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Palo Alto Networks to acquire Evident.io

Palo Alto Networks is paying $300 million in cash for the cloud security and compliance firm.

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(Image: Palo Alto Networks)

Palo Alto Networks on Wednesday announced it's acquiring Evident.io, a cloud security and compliance firm, for $300 million in cash.

The deal is expected to close over Palo Alto's fiscal third quarter, and Evident.io's co-founders, Tim Prendergast and Justin Lundy, will join Palo Alto.

Evident.io is a leader in public cloud infrastructure security and will extend Palo Alto Networks' API-based security capabilities. Their combined capabilities will give customers continuous monitoring, storage security, and compliance validation and reporting.

"We believe enterprises will become even more cloud-centric in the future and require prevention methods that have been designed for the cloud," said Mark McLaughlin, chairman and CEO of Palo Alto Networks, in a statement.

"With Evident as part of our platform, Palo Alto Networks will be the only vendor that can deliver a holistic cloud offering to address the critical security needs of today's enterprise customers as they journey to the cloud," McLaughlin added.