Security and firewall vendor Palo Alto Networks has agreed to purchase US-based public cloud security and compliance specialist Evident.io for US$300 million (A$381 million) to make it easier for enterprise cloud users to keep their deployments are compliant and secure.
The vendor said Evident.io would extend its API-based security capabilities by analysing services and account setting configurations against strict security and compliance controls. The deal is expected to close by April 30, with Evident.io's co-founders joining Palo Alto Networks.
"We believe enterprises will become even more cloud-centric in the future and require prevention methods that have been designed for the cloud," Mark McLaughlin, chairman and chief executive of Palo Alto Networks, said.
"With Evident as part of our platform, Palo Alto Networks will be the only vendor that can deliver a holistic cloud offering."
Legacy security tools tend not to work well in the public cloud, forcing organisations to lean heavily on manual inspection and audits to validate security and compliance, according to Palo Alto Networks. However, this can be time-consuming, error-prone, and outpaced by the dynamic nature of the cloud.
Security, DevOps and compliance teams, therefore, need an automated and frictionless approach to securing public cloud workloads, according to Palo Alto Networks. And once Evident.io is integrated with the company's existing cloud security offering, customers will be able to use a single approach for continuous monitoring, storage security, and compliance validation and reporting.
As a result, Palo Alto Networks said security, DevOps and compliance teams will be able to: develop and deploy new cloud applications faster; speed up deployments by simplifying developer and security operations; and continuously validate cloud deployment for compliance.
"The combined capabilities of Evident.io and Palo Alto Networks will provide customers with the confidence they need to run better, faster, and more securely in the cloud," Tim Prendergast, Evident.io's co-founder and chief executive, said in a statement. Prendergast and co-founder Justin Landy will both join Palo Alto Networks.
Shares of Palo Alto Networks remained unchanged at US$188.45 in after-hours trading Tuesday. The deal comes just two days after privileged account security vendor CyberArk purchased Vaultive to boost proactive cloud security controls for privileged accounts and cloud administrators.
Evident.io was founded in 2013, and today employs 112 people, according to LinkedIn. The company has raised US$49.1 million in five rounds of venture funding, with In-Q-Tel and GV (formerly Google Ventures), respectively, leading the two most recent rounds.
The Evident Security Platform (ESP) enables companies of all sizes to minimize their attack surface and improve their overall cloud security posture from a single dashboard. ESP continuously identifies and assesses security risks in AWS and Microsoft Azure deployments, provides security staff with expert remediation guidance, and enables painless security auditing and compliance reporting.
"The deal combines the best public cloud infrastructure security company, Evident.io, with the industry's leader in public cloud security, Palo Alto Networks," Prendergast wrote in a letter posted to the company's website. "Together, our technologies will form the world's most advanced cloud security offering."
Organisations are increasingly using multiple public cloud accounts and providers to take advantage of the different strengths from the individual cloud providers, wrote Chris Morosco, a Palo Alto Networks product marketing director for cloud security and other technologies, in a blog post on Tuesday afternoon. Lagging security tools will only add complexity and slow down application deployment, he added.
"The Evident.io team has built a reputation for innovating for the cloud and solving tough challenges," Morosco wrote in the blog post. "With their know-how and technology, we will significantly expand our cloud security capabilities."