Palo Alto Networks has completed the acquisition of serverless security company PureSec. With the acquisition, the company aims to better secure the customer journey to multicloud environments and expand its Prisma cloud security strategy, Yahoo writes. Palo Alto Networks (hereinafter referred to as Palo Alto) paid 47 million dollars in cash for the acquisition.

The acquisition of PureSec was already announced at the end of May, together with the planned acquisition of security company Twistlock. PureSec’s technology is integrated into Palo Alto’s cloud security platform, Prisma. This allows Palo Alto to add end-to-end serverless application security to its capabilities.

More and more companies are switching to the cloud, but the transition to the cloud with workloads comes with various security issues. The use of different security solutions makes the management complex, so it is often better to avoid this.

According to Gartner, 50 percent of enterprises will accidentally expose some of their IaaS storage services, network segments, applications or APIs to the Internet by 2021. This is a doubling of the 25% in 2018. This makes it clear that there is a high demand for multicloud security solutions. That’s what the Prisma platform has to offer: it brings together all of Palo Alto’s cloud security solutions under one name and platform.

Competition

However, there is a lot of competition in this market. For example, Fortinet’s FTNT Security Fabric architecture is a comprehensive suite of security solutions that is getting more and more traction. Thanks to the worldwide demand for Security Fabric services, the suite is also being expanded further and further.

In addition, Cisco’s CSCO cloud security solutions are growing as a result of various business decisions. For example, in October last year, Cisco acquired Duo Security for $2.35 billion to improve its security portfolio for the cloud.

However, Palo Alto believes that there is enough room for multiple players in a market that, according to the company, will be worth 24 billion dollars in 2020.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.