Global cybersecurity company Palo Alto Networks (NYSE: PANW) is to acquire Expanse Inc., a attack surface management company.
Under the terms of the agreement, Palo Alto Networks will acquire Expanse for a total purchase price of approximately $670m to be paid in cash and stock and approximately $130m 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.
Co-founded by Dr. Tim Junio and Dr. Matt Kraning, who will join Palo Alto Networks, Expanse provides an internet collection and attribution platform that constantly monitors the global internet to map exposed and untracked assets that comprise customers’ attack surfaces, evaluate and prioritize risk, and provide mitigation. Its 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.
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.
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.