Palo Alto Networks acquires The Crypsis Group in $265m deal

Cybersecurity company Palo Alto Networks has acquired incident response and risk management consultant The Crypsis Group in a deal worth $265m.

The deal will enable Palo Alto Networks to improve its platform with deeper incident response and proactive assurance.

In line with the deal, The Crypsis Group CEO Bret Padres will join Palo Networks.

The combined technology will enable the Palo Alto solution to collect rich security telemetry, manage breaches and initiate rapid response actions. The company will also now be capable of offering incident response and forensic consulting capabilities.

Palo Alto Networks chairman and CEO Nikesh Arora said, “We are excited to welcome The Crypsis Group to Palo Alto Networks.

“This is a team that has handled the most difficult and complex security incidents. The addition of their consulting services will not only strengthen Cortex XDR and help us protect customers from future cyberattacks but also assist in mitigating the potential impact resulting from a breach.”

Last year, Palo Alto acquired IoT security company Zingbox in a deal worth $75m. Through the acquisition, Palo was able integrate Zingbox’s services to help clients improve the visibility and security of IoT devices.

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