Palo Alto Networks Buys Crypsis Group for $265M
August 25, 2020
Palo Alto Networks has entered into a definitive agreement to acquire The Crypsis Group, a leading incident response, risk management and digital forensics consulting firm. Under the terms of the agreement, Palo Alto Networks will acquire The Crypsis Group for a total purchase price of $265 million, subject to adjustment, to be paid in cash. The proposed acquisition is expected to close during Palo Alto Networksí fiscal first quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.
As threat actors continue to professionalize and grow in sophistication, the
risk of revenue and reputational impact of a security breach increases
dramatically. In order to focus on the health and growth of their business,
organizations need trusted partners to not only quickly and efficiently respond
to and contain attacks but also leverage their learning and insight to prevent
Nikesh Arora, chairman and CEO, Palo Alto Networks said, "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. 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."
Justin Jordan, chairman and CEO of ZP Group concluded, "Bret Padres and the Crypsis leadership team have built a world-class incident response and digital forensics company. I cannot think of a better organization to leverage and scale the services that Crypsis offers than Palo Alto Networks."
The Crypsis Groupís more than 150 security consultants have handled some of the
most complex and significant cybersecurity incidents, responding to more than
1,300 security engagements per year. Named one of the Top 10 Digital Forensics
Services Companies of 2019 and 2020 by Enterprise Security magazine, The Crypsis
Group has served more than 1,700 organizations across the healthcare, financial
services, retail, e-commerce and energy industries. The firmís CEO, Bret Padres,
will join Palo Alto Networks.