Palo Alto acquires incident response firm Crypsis Group
The $265m acquisition will see Palo Alto integrate the company's expertise and technology into its own Cortex XDR platform
Palo Alto Networks has acquired an incident response and digital forensics consultancy in a deal worth $265 million (roughly £202 million), a move designed to bolster its own enterprise security oversight platform.
The Crypsis Group, which offers data breach response, digital investigations and cyber risk management services, will be integrated with Palo Alto Networks in order to strengthen its Cortex XDR services.
While Cortex XDR already provides prevention, detection and incident response capabilities, Palo Alto will be hoping to add Crypsis’ consultancy and forensics services into the mix. This would allow the platform to collect telemetry data, manage data breaches and initiative rapid response actions.
"The proposed acquisition of The Crypsis Group will significantly enhance our position as the cybersecurity partner of choice, while expanding our capabilities and strengthening our Cortex strategy,” Palo Alto Networks’ CEO and chairman Nikesh Arora said.
“By joining forces, we will be able to help customers not only predict and prevent cyberattacks but also mitigate the impact of any breach they may face."
Palo Alto is planning to integrate the expertise and technical insights provided by Crypsis to establish a continuous feedback loop between incident response units and product research teams in order to better safeguard clients. The processes and technology built by Crypsis will also be integrated into this division.
Crypsis employs 150 security consultants who handle more than 1,300 complex and significant cyber security engagements each year, the company claims. It has also serviced more than 1,700 organisations across a number of sectors including health care, financial services, energy and e-commerce.
The company’s CEO Bret Padres will also join Palo Alto Networks, although his role in the new organisational structure has not yet been fully defined.
Palo Alto Networks offers security services through Cortex XDR to give clients full visibility over their security architecture, as well a comprehensive portfolio of tools and services to prevent intrusion and learn from any incidents that do occur.
The firm recently announced a partnership with Deloitte, in which several Palo Alto platforms including Cortex XDR and Cortex XSOAR will be integrated into the company’s managed security services portfolio for customers worldwide.
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