Planned acquisition expands analytics and automation capabilities; enables company to continue accelerating its Application Framework strategy



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SANTA CLARA, Calif., Feb. 19, 2019 -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced that it has entered into a definitive agreement to acquire Demisto, a leading security company in the security orchestration, automation and response (SOAR) space. Under the terms of the agreement, Palo Alto Networks will acquire Demisto for a total purchase price of $560 million, subject to adjustment, to be paid in cash and stock. The proposed acquisition is expected to close during Palo Alto Networks fiscal third quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.

The addition of Demisto's orchestration and automation technologies will accelerate Palo Alto Networks Application Framework strategy and serve as a critical step forward in the company's aim to deliver immediate threat prevention and response for security teams. Demisto's automated playbooks have helped reduce alerts that require human review by as much as 95 percent, allowing security teams to focus on the most complex threats. This well-developed approach will bring Palo Alto Networks closer to using AI and machine learning to help further automate significant parts of the company's customers' security operations.

Demisto has developed a highly effective go-to-market strategy that has enabled it to attract more than 150 customers, a quarter of which are in the Fortune 500 and include large organizations in healthcare, high technology, financial services and other industry verticals. Demisto plans to continue executing against the company's aggressive growth plans and leverage Palo Alto Networks distribution to achieve its ambitious goals. At the same time, Demisto will work closely with the Palo Alto Networks team to strengthen its existing integration with the Application Framework.

"We are delighted to welcome Demisto into the Palo Alto Networks family. Coupled with our Application Framework, Demisto will help us strengthen our commitment to security teams by delivering a platform that provides higher levels of integration, automation, and innovation to prevent successful cyberattacks."  
- Nikesh Arora, chairman and CEO of Palo Alto Networks

"We have dedicated ourselves to the challenge of automation because we believe that relying on people alone to combat threats will fail against the scale of today's attacks. Palo Alto Networks strategy resonates with our own vision. And we have found a like-minded team that shares our conviction that the future of security is all about automation and AI. We're thrilled to be joining them to help make it a reality." -  Slavik Markovich, CEO of Demisto

Demisto's products will continue to be available to customers and partners after the transaction closes.  Demisto founders, Slavik Markovich, Rishi Bhargava, Dan Sarel and Guy Rinat, will join Palo Alto Networks.  

Conference Call Information

Palo Alto Networks will host a conference call for analysts and investors to discuss the acquisition today at 8:30 a.m. Eastern time/5:30 a.m. Pacific time. Open to the public, investors may access the call by dialing 1-877-260-1479 or 1-334-323-0522 and using conference ID 1060649. A live audio webcast of the conference call will also be accessible from the "Investors" section of our website at investors.paloaltonetworks.com. Following the webcast, an archived version will be available on our website for one year. A telephonic replay of the call will be available three hours after the call, will run for ten days, and may be accessed by dialing 1-888-203-1112 or 1-719-457-0820 and entering the passcode 1060649.

About Demisto

Demisto's Security Orchestration, Automation and Response (SOAR) Platform combines orchestration, incident management and interactive investigation into a seamless experience. Demisto's orchestration engine automates security product tasks and weaves in human analyst tasks and workflows. Demisto Enterprise, powered by its machine learning technology, acquires knowledge from the real-life analyst interactions and past investigations to help SOC teams with analyst assignment suggestions, playbook enhancements, and best next steps for investigations. The platform (and you) get smarter with every analyst action. For more information, visitwww.demisto.com or email info@demisto.com.

About Palo Alto Networks

We are the global cybersecurity leader, known for always challenging the security status quo. Our mission is to protect our way of life in the digital age by preventing successful cyberattacks. This has given us the privilege of safely enabling tens of thousands of organizations and their customers. Our pioneering Security Operating Platform emboldens their digital transformation with continuous innovation that seizes the latest breakthroughs in security, automation, and analytics. By delivering a true platform and empowering a growing ecosystem of change-makers like us, we provide highly effective and innovative cybersecurity across clouds, networks, and mobile devices.

Palo Alto Networks and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United Statesand in jurisdictions throughout the world. All other trademarks, trade names or service marks used or mentioned herein belong to their respective owners.

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