Palo Alto Networks (NYSE: PANW), a global cybersecurity company, is to acquire Bridgecrew, a San Francisco, CA-based developer-first cloud security company.
Under the terms of the deal, not expected to have a material impact on the company’s financials, Palo Alto Networks will acquire Bridgecrew for approximately $156m in cash, excluding the value of replacement equity awards, subject to adjustments. The proposed acquisition is expected to close during Palo Alto Networks fiscal third quarter, subject to the satisfaction of customary closing conditions.
The acquisition will enable Prisma Cloud to provide developers with security assessment and enforcement capabilities throughout the DevOps process. Once integrated, Prisma Cloud customers will use a single platform that will deliver cloud security from build time to runtime, connecting security and DevOps teams.
Co-founded by Idan Tendler, Barak Schoster and Guy Eisenkot, who, with their teams will join Palo Alto Networks, Bridgecrew provides an IaC security platform that offers developers and DevOps teams a systematic way to enforce infrastructure security standards throughout the development lifecycle. Its open-source IaC scanner, Checkov, has gained early traction with developers, surpassing 1 million downloads in 2020 — its first full year of availability. Also, Bridgecrew’s full security platform is seeing early traction across many cloud-first organizations and several industries.
Palo Alto Networks will continue to invest in Bridgecrew’s open-source initiatives as part of its ongoing commitment to DevOps security.
Led by Nikesh Arora, chairman and CEO, Palo Alto Networks a global cybersecurity leader addressing the world’s greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration.
FinSMEs
19/02/2021