Palo Alto Networks (PANW) Tops Q3 EPS by 3c; Announces Acquisition of CirroSecure
Palo Alto Networks (NYSE: PANW) reported Q3 EPS of $0.23, $0.03 better than the analyst estimate of $0.20. Revenue for the quarter came in at $234.2 million versus the consensus estimate of $223.26 million.
Palo Alto Networks sees Q4 2015 EPS of $0.24-$0.25, versus the consensus of $0.24. Palo Alto Networks sees Q4 2015 revenue of $252-56 million, versus the consensus of $247.7 million.
PANW also announced it has acquired CirroSecure, a Silicon Valley-based company with a highly differentiated approach to securing Software as a Service (SaaS) applications.
The Palo Alto Networks Enterprise Security Platform provides the industry's leading ability to safely enable applications and prevent cyber threats from compromising an organization's data and infrastructure. A key attribute of the platform is the ability to secure high risk, unsanctioned applications by providing superior visibility and control.
The addition of the CirroSecure technology to the Palo Alto Networks platform expands this functionality by providing additional security for SaaS applications such as Box, Dropbox, GitHub, Google Drive, and salesforce.com that are highly collaborative, yet often store some of an organization's most sensitive data.
QUOTES
- "The acquisition of CirroSecure brings unique technology and talent to Palo Alto Networks. Their exceptional SaaS security technology expands the capabilities of our proven platform already in use by more than 24,000 customers worldwide. We enable organizations to embrace SaaS as an extension of their IT infrastructure without security concerns and this addition further strengthens the reach and power of our enterprise security platform."- Lee Klarich, senior vice president of Product Management at Palo Alto Networks
- "Reducing risk in SaaS applications is an essential cornerstone of securing enterprise IT infrastructures of the future. We are thrilled to join Palo Alto Networks; they are the clear leaders in the enterprise security market with a game-changing platform designed for the modern and agile computing environment. Our joint technologies provide unparalleled SaaS application security." - Nishant Doshi, CTO of CirroSecure
Until now, the tools haven't existed to effectively manage and secure SaaS applications. The CirroSecure technology offers a highly differentiated approach to securing these applications by providing complete visibility across all user, folder, and file activity while applying deep analytics into day-to-day usage to quickly determine if any policy or data security violations have occurred. These violations are prevented through the use of granular, context-aware policies that allow organizations to quickly quarantine users and data as soon as a violation has occurred to prevent loss of sensitive data.
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