Splunk acquires Phantom Cyber for US$ 350 million (£255 million)
Splunk acquires Phantom Cyber for US$ 350 million (£255 million)

Splunk has entered into an agreement to acquire Phantom Cyber Corp. in a US$ 350 million (£255 million) cash and stock deal.

The deal for Phantom, which works in the Security Orchestration, Automation and Response space, is expected to close during the first half of 2018 subject to all regulatory review. In the new arrangement Oliver Friedrichs, founder and CEO of Phantom will report to Haiyan Song, senior vice president and general manager of security markets, Splunk.

“Phantom's employees and technology significantly expand and strengthen Splunk's vision for the security nerve center and for business revolution through IT,” said Doug Merritt, president and CEO, Splunk. “Splunk is committed to continuously pushing the limits of technology to help our customers get the answers they need from their data. I am very excited to reach this definitive agreement with Phantom and look forward to welcoming the team to Splunk.”