Splunk plans to purchase security orchestration and automation pioneer Phanton Cyber Corp. for $350 million in cash and stock, the data analytics company said today.
Phantom's security orchestration, automation, and response (SOAR) technology will be integrated with Splunk's big data analytics platform as a way to streamline incident response in security operations centers. Oliver Friedrichs, founder and CEO of Phantom, will report to Splunk's senior vice president and general manager of security markets Haiyan Song.
The acquisition is scheduled to close in the first half of this year, subject to regulatory and other closing conditions.
"Phantom’s employees and technology significantly expand and strengthen Splunk's vision for the security nerve center and for business revolution through IT," Doug Merritt, Splunk president and CEO said in a statement. "Splunk is committed to continuously pushing the limits of technology to help our customers get the answers they need from their data. I am very excited to reach this definitive agreement with Phantom and look forward to welcoming the team to Splunk."
Read more about the acquisition here.
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