Palo Alto Networks Completes Acquisition of Cider Security

Rhea-AI Summary

Palo Alto Networks (NASDAQ: PANW) has completed its acquisition of Cider Security, enhancing its application security capabilities. This acquisition aims to address the growing cybersecurity threat, particularly in software supply chains, projected to face a significant increase in attacks by 2025, according to Gartner. By integrating Cider's technology with its Prisma Cloud platform, Palo Alto seeks to strengthen security measures earlier in the development lifecycle, helping customers mitigate risks associated with CI/CD pipelines. CEO Nikesh Arora emphasized the importance of this technology for identifying and resolving risks effectively.

Positive

• Acquisition of Cider Security enhances Palo Alto's application security capabilities.
• Integration into Prisma Cloud improves security in the development lifecycle.
• Alignment with the rising demand for software supply chain security.

Negative

• Integration of Cider's technology carries potential operational risks.
• Forward-looking statements indicate uncertainties about future financial impacts.

Application threats and vulnerabilities are secured earlier in the development lifecycle with Prisma Cloud, the industry's most comprehensive code-to-cloud platform

SANTA CLARA, Calif., Dec. 20, 2022 /PRNewswire/ -- Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, today announced it has completed its acquisition of Cider Security (Cider), a pioneer in application security (AppSec) and software supply chain security. Modern applications are developed rapidly through continuous integration and continuous delivery (CI/CD) pipelines, but security at this stage of the application lifecycle is inconsistent, siloed or worse: simply absent. According to Gartner®, by 2025, 45% of organizations worldwide will have experienced attacks on their software supply chains, a three-fold increase from 2021¹. With the addition of Cider's cutting-edge capabilities, Palo Alto Networks Prisma® Cloud platform helps customers "shift security left" to proactively prevent threats and vulnerabilities before applications are deployed in production cloud environments.

"We are thrilled to officially welcome Cider Security to Palo Alto Networks," said Nikesh Arora, chairman and CEO, Palo Alto Networks. "Cider's technology provides deep visibility and analysis of the tools and processes that are being used throughout the application development lifecycle, resulting in the ability to identify and remediate critical risks at every step. This is consistent with Prisma Cloud's shift left security strategy, as we continue offering innovative solutions that help protect our customers from emerging threats."

Palo Alto Networks Prisma Cloud is the industry's most complete cloud-native application protection platform, revolutionizing how organizations protect their multicloud environments. In addition to recently adding Software Composition Analysis (SCA) and Secret Scanning capabilities to its Cloud-Native Application Protection Platform (CNAPP), Prisma Cloud's integration of Cider capabilities will bring security to the forefront of the development lifecycle that can alert to potential CI/CD pipeline risks and deliver remediation solutions. With Prisma Cloud, customers bolster their ability to build secure applications and improve security posture, delivered from a single unified platform to secure complex cloud environments. 

Additional Resources

• Learn more about Palo Alto Networks Prisma Cloud
• Follow Palo Alto Networks on Twitter, LinkedIn, Facebook, Instagram and its blog.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions, including, but not limited to, statements regarding the anticipated benefits and impact of the proposed acquisition to Palo Alto Networks and its customers and future financial and operating results, and the ability of Palo Alto Networks to integrate Cider's technology, operations and business. We identify various risks and uncertainties that could affect forward-looking statements in our Annual Report on Form 10-K filed with the SEC on September 6, 2022, which is available on our website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this blog are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Palo Alto Networks
Palo Alto Networks is the world's cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we're committed to helping ensure each day is safer than the one before. It's what makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2022, 2021), Comparably Best Companies for Diversity (2021), and HRC Best Places for LGBTQ Equality (2022). For more information, visit www.paloaltonetworks.com.

Palo Alto Networks, Prisma, and the Palo Alto Networks logo are registered trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. Any unreleased services or features (and any services or features not generally available to customers) referenced in this or other press releases or public statements are not currently available (or are not yet generally available to customers) and may not be delivered when expected or at all. Customers who purchase Palo Alto Networks applications should make their purchase decisions based on services and features currently generally available.

¹ Gartner, How Software Engineering Leaders Can Mitigate Software Supply Chain Security Risk, Manjunath Bhat, Dale Gardner, Mark Horvath, 22 November 2022

 

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SOURCE Palo Alto Networks, Inc.

FAQ

What is the strategic importance of Palo Alto's acquisition of Cider Security?

The acquisition enhances Palo Alto's capabilities in application security and software supply chain security, which are critical in response to increasing cybersecurity threats.

How will Cider Security's technology impact Palo Alto's Prisma Cloud platform?

Cider's technology will enable earlier detection and remediation of security risks in the development lifecycle, bolstering Prisma Cloud's overall security offerings.

What potential risks are associated with the acquisition of Cider Security?

Potential risks include the challenges of integrating Cider's operations and technology, as well as uncertainties regarding the acquisition's financial impact.

What is the projected increase in software supply chain attacks according to Gartner?

Gartner predicts that by 2025, 45% of organizations will experience attacks on their software supply chains, a three-fold increase from 2021.