Palo Alto Networks (NYSE: PANW), a global cybersecurity company, is to acquire Twistlock, the leader in container security.
Under the terms of the agreement, Palo Alto Networks will pay Twistlock approximately $410 million in cash, subject to adjustments.
The acquisition, expected to close during the company’s fiscal fourth quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions, will enable Palo Alto Networks to extend its Prisma™ cloud security strategy.
Prisma, used by approximately 9,000 customers worldwide, helps enable a secure journey to the cloud by providing organizations with visibility across the entire cloud environment while governing access, protecting data, and securing applications regardless of location.
With the addition of Twistlock to the Prisma cloud security suite, Palo Alto Networks will be uniquely positioned to secure today’s modern applications throughout the entire life cycle, enabling organizations to deliver innovations that are secure, reliable, and scalable.
Co-founded by Ben Bernstein and Dima Stopel, who will join Palo Alto Networks, Twistlock is a container security company which combines vulnerability management, compliance, and runtime defense for cloud-native applications and workloads. The company currently serves more than 290 customers, with more than a quarter on the Fortune 100 list.