Wednesday, 28 February 2018 23:12

Splunk to acquire Phantom Cyber Corporation for US$350m

By

Machine data aggregator and analytics platform Splunk has announced a definitive agreement to acquire Phantom Cyber Corporation for approximately $US350 million.

Phantom is a four-year-old start-up in Security Orchestration, Automation and Response (SOAR), and the purchase price is subject to adjustment and will be paid in cash and stock. It is a strategic acquisition built on a strong existing foundation: the two companies have partnered since 2016, and Phantom’s products help automate the work of IT security staff, many of its customers already using Splunk to triage incidents within their security operations centres.

Security makes up about 40% to 50% of Splunk’s revenues, and the acquisition bolsters Splunk’s offerings in this space.

The acquisition, announced today, is expected to close during the first half of 2018, subject to customary closing conditions and regulatory reviews and is Splunk’s largest acquisition to date.

SOAR platforms, such as Phantom, improve the efficiency of security operations by automating tasks, orchestrating workflows, improving collaboration, and enabling organisations to respond to incidents at machine speed.

Gartner research indicates 15% of organisations with a security team larger than five people will leverage SOAR tools by the end of 2020, up from 1% today.

With this acquisition, Splunk’s customers will be on top of this, working smarter, advancing cyber-defence and reducing organisational risk using analytics-driven security, and responding faster by accelerating incident response.

“Phantom’s employees and technology significantly expand and strengthen Splunk’s vision for the security nerve centre and for business revolution through IT,” said Doug Merritt, president and chief executive, 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.”

“Sourabh Satish and I founded Phantom to give SOC analysts a powerful advantage over their adversaries, a way to automatically and quickly resolve threats,” said Oliver Friedrichs, founder and chief executive, Phantom.

“Combining SOAR with the industry’s leading big data platform is a revolutionary advance for security and IT teams and will further cut down the time it takes them to eliminate threats and keep the business running. We are thrilled to empower Splunk customers to solve these important challenges.”

Friedrichs will report to Haiyan Song, Splunk’s senior vice-president and general manager of Security Markets.

BUSINESS WORKS BETTER WITH WINDOWS 1O. MAKE THE SHIFT

You cannot afford to miss this Dell Webinar.

With Windows 7 support ending 14th January 2020, its time to start looking at your options.

This can have significant impacts on your organisation but also presents organisations with an opportunity to fundamentally rethink the way users work.

The Details

When: Thursday, September 26, 2019
Presenter: Dell Technologies
Location: Your Computer

Timezones

QLD, VIC, NSW, ACT & TAS: 11:00 am
SA, NT: 10:30 am
WA: 9:00 am NZ: 1:00 pm

Register and find out all the details you need to know below.

REGISTER!

ADVERTISE ON ITWIRE NEWS SITE & NEWSLETTER

iTWire can help you promote your company, services, and products.

Get more LEADS & MORE SALES

Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]

OR CLICK HERE!

David M Williams

David has been computing since 1984 where he instantly gravitated to the family Commodore 64. He completed a Bachelor of Computer Science degree from 1990 to 1992, commencing full-time employment as a systems analyst at the end of that year. David subsequently worked as a UNIX Systems Manager, Asia-Pacific technical specialist for an international software company, Business Analyst, IT Manager, and other roles. David has been the Chief Information Officer for national public companies since 2007, delivering IT knowledge and business acumen, seeking to transform the industries within which he works. David is also involved in the user group community, the Australian Computer Society technical advisory boards, and education.

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments