Cybersecurity technology provider Palo Alto Networks has agreed to acquire US-based cloud security software developer RedLock for approximately $173m, in a deal that will enable computing equipment maker Dell to exit.
Founded in 2015, RedLock has built a software platform called RedLock Cloud 360 which uses artificial intelligence to bring together security data from a wide range of sources to identify and combat cyber threats to cloud software platforms.
The company emerged from stealth mode in March 2017 with $12m of funding from Dell Technologies Capital, Dell’s corporate venturing arm, as well as venture capital firms Sierra Ventures and Storm Ventures.
Nikesh Arora, Palo Alto Networks’ chairman and chief executive, said: “We are thrilled to add RedLock’s technology to our cloud security offerings.
“The addition of their technologies allows us to offer the most comprehensive security for multi-cloud environments, including Amazon Web Services, Google Cloud Platform and Microsoft Azure, and significantly strengthens our cloud strategy going forward.”
The deal came five months after Palo Alto Networks closed the $300m acquisition of another cloud security software developer, Evident.io, enabling GV, an investment vehicle for internet and technology conglomerate Alphabet, to exit.
