Palo Alto to acquire Expanse

Santa Clarita, CA-based Palo Alto Networks announced November 11 that it has entered into a definitive agreement to acquire Expanse Inc., a leader in attack surface management. Under the terms of the agreement, Palo Alto Networks will acquire Expanse for a total purchase price of approximately $670 million to be paid in cash and stock and approximately $130 million in replacement equity awards, each such amount subject to adjustment. The proposed acquisition is expected to close during Palo Alto Networks fiscal second quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.

“We are thrilled to add the Expanse platform to our Cortex product suite. By integrating Expanse’s attack surface management capabilities into Cortex after closing, we will be able to offer the first solution that combines the outside view of an organization’s attack surface with an inside view to proactively address all security threats. We believe this will be a game-changer in security operations,” said Nikesh Arora, chairman and CEO of Palo Alto Networks

As companies embark on digital transformation, they often leave critical IT assets exposed to the internet, creating vulnerable points that attackers can exploit. This exposure has only accelerated with the rapid shift to the cloud and remote working.

“Expanse’s mission is to discover and mitigate risks for our customers that no one else can find. The world’s largest and most complex organizations trust Expanse to continuously discover, inventory, monitor, and report against their dynamically changing attack surface. Matt and I look forward to joining forces with Palo Alto Networks to help secure the internet for enterprises and governments around the world,” said Tim Junio, co-founder and CEO of Expanse.

Expanse’s internet collection and attribution platform constantly monitors the global internet to map exposed and untracked assets that comprise customers’ attack surfaces, evaluate and prioritize risk, and provide mitigation. Expanse’s data provides CISOs with a view of the enterprise from the outside, representing the view an attacker sees as they probe for points of weakness. Once combined, the Expanse platform will significantly enrich the Cortex™ product suite and create the ability to stitch together external, internal and threat data to provide organizations with a complete, integrated view of the enterprise.

Expanse customers include Fortune 500 organizations in the financial, healthcare, entertainment and technology industries as well as mission-critical government organizations, including the U.S. military. Expanse co-founders, Dr. Tim Junio and Dr. Matt Kraning, will join Palo Alto Networks.

Source: Palo Alto Networks