A definitive agreement has been signed by Palo Alto Networks, a global provider of cybersecurity solutions, to acquire Cider Security, a pioneer in application security (AppSec) and software supply chain security from Israel.
Palo Alto Networks will purchase Cider Security in accordance with the terms of the agreement for approximately $195 million in cash, excluding the value of replacement stock awards, subject to revaluation. If all standard closing conditions are met, the proposed purchase should conclude during Palo Alto Networks’ second quarter of fiscal 2023.
Palo Alto will add Cider Security to its Prisma Cloud platform. As a pioneer in the field of cloud security, Prisma Cloud offers businesses protection for their multi-cloud environments by using a platform approach rather than a collection of disparate cloud security products.
The acquisition would contribute to the platform strategy used by Palo Alto Networks Prisma Cloud to secure the whole application security lifecycle, from code to cloud. With the addition of its recently revealed Software Composition Analysis (SCA) capabilities, Prisma Cloud’s code-to-cloud security platform would now offer one of the most complete supply chain security solutions in the market.
Unifying Cloud and Application Security
“Any organization using public cloud has an application infrastructure with hundreds of tools and applications that can access their code and yet, they have limited visibility to their configuration or if they are secured,” said Lee Klarich, Chief Product Officer at Palo Alto Networks. “Cider has made it possible to connect into infrastructure, analyze the tools, and identify the risks, as well as how to remediate them. We are acquiring Cider for their innovation that will help enable Prisma Cloud to provide this capability that anyone doing cloud operations has to have.”
Cider Security would further Palo Alto Prisma Cloud’s mission by unifying cloud and application security with a unique approach that cannot be achieved by point solutions.
“We designed an AppSec platform that allows engineering to continue to move fast, without making compromises on security. It’s only fitting that we join Palo Alto Networks, a company built upon landmark cybersecurity ‘firsts.’ There couldn’t be a better fit for Cider,” said Guy Flechter, CEO at Cider Security. “By scanning and securing the CI/CD pipeline, we can help identify where there may be vulnerabilities in your code. Prisma Cloud will now be the ultimate solution for code to cloud security.”