Benzinga | Feb 16, 2021 10:31AM EST

Palo Alto Networks To Acquire Cloud Security Company Bridgecrew For $156M

* Palo Alto Networks Inc (NYSE: PANW) inked an agreement to acquire developer-first cloud security company Bridgecrew for $156 million in cash to deliver security across the full application lifecycle.

* The company's Prisma Cloud customers will gain from a single platform that will deliver cloud security from build time to runtime, impeccably connecting security and DevOps teams upon the addition.

* Bridgecrew's open-source IaC scanner, Checkov, has surpassed 1 million downloads in 2020 in its first full year of accessibility. Its full security platform has witnessed significant early traction across many cloud-first organizations and several industries.

* Palo Alto Networks will continue to capitalize on Bridgecrew's open-source initiatives towards its continuing commitment to DevOps security.

* The company also launched a complete cloud-delivered platform Prisma Access 2.0, including self-healing infrastructure, ML-powered security, cloud secure web gateway (SWG) capabilities, and a reimagined cloud management experience.

* Price Action: PANW shares are down 0.48% at $393.23 on the last check Tuesday.