Palo Alto Networks Strikes $800M Deal for Expanse; Nikesh Arora Quoted

Palo Alto Networks Strikes $800M Deal for Expanse; Nikesh Arora Quoted
Nikesh Arora Chairman and CEO Palo Alto Networks

Santa Clara, California-based Palo Alto Networks (NYSE: PANW) has agreed to acquire attack surface management company Expanse for approximately $800M as part of efforts to grow cybersecurity offerings.

Palo Alto Networks said Wednesday it will pay $670M in cash and stock and about $130M in replacement equity awards to buy Expanse and expects to close the transaction during its fiscal second quarter, subject to regulatory approvals and other customary closing conditions.

Expanse Co-founders Tim Junio and Matt Kraning will join Palo Alto Networks upon the deal’s closing.

Nikesh Arora, chairman and CEO of Palo Alto Networks, said the company will integrate Expanse’s platform into its Cortex product suite to provide organizations with an outside and inside view of their attack surfaces.

Expanse designed its platform to help customers prioritize and mitigate security risks by monitoring the internet to map untracked and exposed assets and providing an outside view of the enterprise’s attack surface. The company’s customers include government agencies and organizations in the technology, health care, entertainment and financial industries.

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