Palo Alto Networks has completed its acquisition of application security and supply chain security company Cider Security, according to a prepared statement. The company in November 2022 announced plans to purchase Cider for $195 million.
Cider allows Palo Alto Networks Prisma Cloud users to "shift security left" to protect against security threats and vulnerabilities before their applications are deployed in production cloud environments, the companies said. The company offers security capabilities that allow these users to stay up to date on continuous integration/continuous delivery (CI/CD) pipeline risks. In addition, Cider enables Prisma Cloud users to leverage one platform to build applications and safeguard their cloud environments.
Palo Alto Networks, Google Cloud Partner for Zero Trust Network Access, Application Security
Finalizing the Cider acquisition comes after Palo Alto Networks in December 2022 partnered with Google Cloud to deliver a zero trust network access (ZTNA) 2.0 solution. Organizations can use the Palo Alto Networks-Google Cloud ZTNA 2.0 solution to protect their applications, the companies said.
The ZTNA 2.0 solution utilizes Google Cloud's BeyondCorp Enterprise zero trust solution in conjunction with Palo Alto Networks' Prisma Access security service edge (SSE) solution, the companies noted. It lets hybrid users secure access to SaaS, cloud and on-premises applications from managed and unmanaged devices. The solution also detects and remediates threats to users, applications and data, inspects application traffic and secures access to data centers, branch offices and mobile users.
Palo Alto Networks Boosts Revenue in 1QFY23
Previously, Palo Alto Networks recorded $1.6 billion in total revenue in the first quarter of fiscal year 2023, up 25% year over year. Palo Alto Networks attributed its 1QFY23 financial performance to "customers continuing to increase their commitments to security platforms ... and simplify their security architecture," CEO Nikesh Arora said.
Palo Alto Networks is focused on "expanding the breadth of offerings ... pace of innovation to continue to drive share gains in the cybersecurity market," Arora noted. The company is projecting its total revenue to fall in the range of $1.63 billion to $1.66 billion in 2QFY23, which would represent a year-over-year increase between 24% and 26%.
