Splunk closes acquisition of Phantom
Splunk Inc. of San Francisco, CA announced on April 9 that it has closed the acquisition of Phantom Cyber Corporation, a leader in Security Orchestration, Automation and Response (SOAR) based in Palo Alto, CA. Phantom’s SOAR platform helps organizations improve the efficiency of their Security Operations Center (SOC) by automating tasks, orchestrating workflows, improving collaboration and enabling incident response at machine speed. For more information, visit the Phantom website to register and download Phantom Community edition for free.
The aggregate purchase price for the transaction was approximately $350 million, excluding working capital and other adjustments, paid in cash and restricted common stock.
“Today marks an exciting new era for Splunk and Phantom customers, partners and employees,” said Doug Merritt, president and CEO, Splunk. “The combination of Splunk’s machine data platform with Phantom’s SOAR technology will accelerate a new age of analytics-driven security and expand Splunk’s vision as the security nerve center for SOCs around the world.”
Automation and orchestration are integral parts of security customers’ SOC strategies to accelerate incident response while addressing the security skills shortage. Phantom’s SOAR platform offers automation capabilities that will also assist IT teams in solving challenges in a widening range of use cases, including Artificial Intelligence for IT Operations (AIOps).