Palo Alto Networks on Wednesday announced that it has entered a definitive agreement to acquire cloud security company RedLock for roughly $173 million in cash.
The acquisition is expected to be completed in Palo Alto Networks’ first fiscal quarter. RedLock co-founders Varun Badhwar and Gaurav Kumar will join Palo Alto Networks as part of the deal.
RedLock’s AI-powered Cloud 360 platform helps organizations protect their public cloud environments by providing deep visibility, threat detection, risk prioritization, remediation, and incident response capabilities.
Palo Alto Networks already provides a wide range of security services for cloud environments. Its offering was expanded earlier this year following the acquisition of Evident.io for $300 million in cash.
It now plans on combining Evident and RedLock technologies to provide a single offering that encompases cloud security analytics, continuous security, threat detection, and compliance monitoring. The new offering is expected to become available early next year.
“We are thrilled to add RedLock’s technology to our cloud security offerings,” said Nikesh Arora, chairman and CEO of Palo Alto Networks. “The addition of their technologies allows us to offer the most comprehensive security for multi-cloud environments, including Amazon Web Services, Google Cloud Platform and Microsoft Azure, and significantly strengthens our cloud strategy going forward.”