Palo Alto Networks has acquired cyber-security company CirroSecure to expand its security platform.
Adding CirroSecure technology to the Palo Alto Networks Enterprise Security Platform is intended to enable it to extend visibility down to the individual file, folder and user operating within a SaaS application. CirroSecure technology applies deep analytics to determine if there are any DLP or compliance-related policy violations, using granular context-aware policies, violations can trigger an immediate response such as the quarantine of a user or data.
In his corporate blog, Scott Gainey, VP of product marketing and programs at Palo Alto Networks commented that the deal contributed to "the expansion of our platform's ability to safely enable the applications that form the backbone of today's businesses".
"Increasingly organisations are turning to SaaS applications such as Box, Dropbox, or salesforce.com that are highly collaborative in nature, yet often store some of an organisation's most sensitive data. Securing these sanctioned applications requires a new level of visibility and control that, up to this point, hasn't existed within the industry," he said.
Palo Alto Networks Inc's third-quarter figures showed revenue growth up 55 percent to US$234 million (£153 million), and losses had fallen to US$ 46 million (£30 million) compared to a loss of US$ 147 million (£96 million) a year earlier. While the cost of the deal was not made public, shares in Palo Alto Networks fell one percent in after-hours trading after ending the regular session down two percent.
Major breaches, particularly in the US, have boosted interest in internet security companies and Palo Alto's stock had doubled over the past 12 months to a high of US$ 165.09. Q4 revenue of US$ 248 million is forecast with earnings of 24 cents per share.
CirroSecure has 24,000 customers worldwide: the combined offering is expected to be available via a new subscription-based Palo Alto Networks service in the second half of 2015.