Palo Alto Networks acquires Crypsis Group for 265 million dollars

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Palo Alto Networks acquires Crypsis Group, a specialist in fighting cybercrime. The acquisition of 265 million dollars (224 million euros) mainly strengthens Palo Alto Networks’ Cortex XDR product.

The acquisition provides Palo Alto Networks with a vendor that specialises in services such as incident response, risk management and digital forensic services. These services are mainly purchased within the healthcare, financial services, retail, e-commerce and energy sectors.

Expansion Cortex product

The acquisition will mainly strengthen Palo Alto Networks‘ Cortex XDR product. Among other things, Cortex XDR collects enriched security telemetry, handles network breaches and initiates rapid response actions. In addition, the experts and insights will further fill up the Cortex AXDR platform with constant feedback with the product teams on the incident response activities that have been carried out. This data can then be used to prevent future cyberattacks, according to Palo Alto Networks.

Multiple acquisitions

Palo Alto Networks will pay a total of 265 million dollars in cash for the acquisition. Crypsis Group has more than 150 employees. The acquisition of Crypsis Group is not the first acquired security specialist this year by Palo Alto Networks. Previously, Zingbox, cloud security specialist Aporteo and the vendor of network management solutions CloudGenix were acquired.

Tip: Palo Alto Networks wants to be the central point for corporate networks