Palo Alto Networks Announces Definitive Agreement to Acquire Cider Security | Financial Buzz

Palo Alto Networks Announces Definitive Agreement to Acquire Cider Security

Palo Alto Networks (NASDAQ: PANW) reported signature on a definitive agreement to acquire Cider Security.  This acquisition supports Palo Alto Networks Prisma Cloud’s platform approach to secure the full application security lifecycle from code to cloud.  “Any organization using public cloud has an application infrastructure with hundreds of tools and applications that can access their code and yet, they have limited visibility to their configuration or if they are secured,” says Lee Klarich, Chief Product Officer for Palo Alto Networks. “Cider has made it possible to connect into infrastructure, analyze the tools, and identify the risks, as well as how to remediate them. We are acquiring Cider for their innovation that will help enable Prisma Cloud to provide this capability that anyone doing cloud operations has to have.”

“We designed an AppSec platform that allows engineering to continue to move fast, without making compromises on security. It’s only fitting that we join Palo Alto Networks, a company built upon landmark cybersecurity ‘firsts’. There couldn’t be a better fit for Cider,” said Guy Flechter, CEO at Cider Security. “By scanning and securing the CI/CD pipeline, we can help identify where there may be vulnerabilities in your code. Prisma Cloud will now be the ultimate solution for code to cloud security.”

Under the terms, Palo Alto Networks will acquire Cider Security for USD 195 Million in cash.  This proposed acquisition is expected to close during the company’s second quarter of fiscal 2023.

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