Palo Alto Networks (PANW) to Acquire Bridgecrew
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Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced that it has entered into a definitive agreement to acquire Bridgecrew, a developer-first cloud security company. The proposed acquisition will enable "shift left" security, with Prisma® Cloud becoming the first cloud security platform to deliver security across the full application lifecycle.
Palo Alto Networks has made key bets around the shift to cloud and the need for integrated best-in-class security. This unique approach has enabled Prisma Cloud to service more than 1,800 customers, including 70% of the Fortune 100. Today Palo Alto Networks is making a further bet that cloud security must "shift left," with security increasingly performed during the DevOps process.
Bridgecrew is a pioneer in shift left, focusing on infrastructure as code (IaC), where infrastructure configuration is codified during development. The company's developer-first IaC security platform offers developers and DevOps teams a systematic way to enforce infrastructure security standards throughout the development lifecycle. The proposed acquisition will enable Prisma Cloud to provide developers with security assessment and enforcement capabilities throughout the DevOps process.
With the addition of Bridgecrew, Palo Alto Networks will be the first to deliver security across the full application lifecycle. Once integrated, Prisma Cloud customers will benefit from a single platform that will deliver cloud security from build time to runtime, seamlessly connecting security and DevOps teams. This again highlights the need for a comprehensive approach to cloud security that simply can't be achieved with point products.
Bridgecrew's open-source IaC scanner, Checkov, has gained significant early traction with developers, surpassing 1 million downloads in 2020 — its first full year of availability. Also, Bridgecrew's full security platform is seeing good early traction across many cloud-first organizations and several industries. Palo Alto Networks will continue to invest in Bridgecrew's open-source initiatives as part of its ongoing commitment to DevOps security. For further details, see Palo Alto Networks' blog post: Prisma Cloud shifts left with proposed acquisition of Bridgecrew.
Bridgecrew co-founders, Idan Tendler, Barak Schoster and Guy Eisenkot, and their teams will join Palo Alto Networks.
Under the terms of the agreement, Palo Alto Networks will acquire Bridgecrew for approximately $156 million in cash, excluding the value of replacement equity awards, subject to adjustments. The proposed acquisition is expected to close during Palo Alto Networks fiscal third quarter, subject to the satisfaction of customary closing conditions. The acquisition is not expected to have a material impact on the company's financials.
"Shift left security is a must-have in any cloud security platform. Developers don't want to wait until runtime to find out their security is not working, and the CISO charged with protecting the entire organization certainly values higher security from fixing issues earlier in the development lifecycle. We are thrilled to welcome Bridgecrew, and their widely adopted and trusted developer security platform, to Palo Alto Networks. When combined, Prisma Cloud customers will benefit from having security embedded in the very foundation of their cloud infrastructure."- Nikesh Arora, chairman and CEO of Palo Alto Networks
"We have dedicated ourselves to building developer-first tools that bridge the gap between developers and cloud security. By joining Palo Alto Networks, we will be able to bring codified cloud security to the developer community on a wider scale. We look forward to working together to continue shifting cloud security left."- Idan Tendler, co-founder and CEO of Bridgecrew
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