SANTA CLARA, Calif., March 24, 2014 /PRNewswire/ -- Palo Alto Networks® (NYSE: PANW), today announced a definitive agreement to acquire Cyvera, a privately held cybersecurity company located in Tel-Aviv, Israel. Under the terms of the agreement, Palo Alto Networks will acquire all of the outstanding capital stock of Cyvera for an aggregate purchase price of approximately $200 million. The acquisition is expected to close during the second half of fiscal 2014, subject to customary closing conditions and regulatory reviews.
Named a cool vendor in security by Gartner in 2013 ("Cool Vendors in Security: Infrastructure Protection 2013")*, Cyvera, which has 55 employees, has developed a highly innovative offering that protects enterprises from cyber threats by using a unique approach to block unknown, zero-day attacks on the endpoint.
The addition of this unique capability to the Palo Alto Networks enterprise security platform will extend customers' ability to safely enable applications and protect users against known and unknown cyber threats on any device, across any network.QUOTES:
- "This event marks a key milestone in our strategic enterprise security vision. It extends our next-generation security platform with a very innovative approach to preventing attacks on the endpoint. It enables us to accelerate the delivery of the market's only highly integrated and automated enterprise security platform spanning network, endpoints, and the cloud. For customers, this translates into the most sophisticated and automated threat prevention for their entire organization." - Mark McLaughlin, President and CEO of Palo Alto Networks
- "Much like Palo Alto Networks set out to disrupt the network security market with its next-generation security platform, we founded Cyvera to revolutionize protection for the endpoint – one of the most vulnerable frontiers for cyber attacks. We are pleased to join the Palo Alto Networks team and together help enterprise customers tackle the advanced threats they face today." - Uri Alter and Netanel Davidi, co-founders and co-CEOs of Cyvera