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01:45 PM

Palo Alto Networks to Acquire The Crypsis Group for $265M

This is the latest in a series of acquisitions that Palo Alto has made since 2018.

Palo Alto Networks has confirmed plans to acquire incident response firm The Crypsis Group for $265 million in cash. This marks the latest in a series of purchases for the company since 2018.

The Crypsis Group was founded in 2015 to provide incident response, risk management, and digital forensics. It now employs more than 150 security consultants who have responded to more than 1,300 engagements per year. The company runs under ZP Group, which has a portfolio of companies focused on breach response, national security solutions, and IT staffing.

Palo Alto Networks intends to add The Crypsis Group's security consulting and forensics capabilities to its Cortex XDR platform, which already provides prevention, detection, and response. In a statement on the news, the company says these additions will help improve Cortex XDR's ability to gather security telemetry, manage breaches, and initiate response.

Further, experts and insight from The Crypsis Group will help create a "continuous feedback loop" between incident response engagements and product research teams. Over time, Palo Alto Networks plans to integrate the company's processes and technology into Cortex XDR.

Palo Alto Networks has been on a consistent shopping spree for more than two years. It most recently purchased CloudGenix for $420 million in March; in late December 2019, it acquired microsegmentation company Aporeto. Earlier in 2019, it confirmed acquisitions of both PureSec and Twistlock, both companies focused on cloud security.

Read more details here.

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