Palo Alto Networks (NASDAQ: PANW), a Santa Clara, CA-based cybersecurity company, acquired Cider Security, a Tel Aviv-Yafo, Israel-based provider of application security (AppSec) and software supply chain security solutions.
The amount of the deal was approximately $195m in cash, excluding the value of replacement equity awards, subject to adjustment. The proposed acquisition is expected to close during Palo Alto Networks’ second quarter of fiscal 2023, subject to the satisfaction of customary closing conditions. The deal is not expected to have a material impact on the company’s financials.
With the acquisition, Palo Alto Networks will support its Prisma Cloud’s platform approach to securing the application security lifecycle from code to cloud. Combined with its Software Composition Analysis (SCA) capabilities, Prisma Cloud will now provide a comprehensive supply chain security solution as part of its code-to-cloud security platform.
Led by CEO Guy Flechter, Cider Security provides security and engineering teams across the globe with an AppSec Operating System to secure their engineering ecosystem through complete, continuous visibility.
FinSMEs
18/11/2022