Acquisition of Security Orchestration, Automation and Response Leader Propels Analytics-Driven Security and IT
SAN FRANCISCO – April 9, 2018 – Splunk Inc. (NASDAQ: SPLK), first in delivering “aha” moments from machine data, today announced that it has closed the acquisition of Phantom Cyber Corporation, a leader in Security Orchestration, Automation and Response (SOAR). Phantom’s SOAR platform helps organizations improve the efficiency of their Security Operations Center (SOC) by automating tasks, orchestrating workflows, improving collaboration and enabling incident response at machine speed. For more information, visit the Phantom website to register and download Phantom Community edition for free.
The aggregate purchase price for the transaction was approximately $350 million, excluding working capital and other adjustments, paid in cash and restricted common stock.
“Today marks an exciting new era for Splunk and Phantom customers, partners and employees,” said Doug Merritt, President and CEO, Splunk. “The combination of Splunk’s machine data platform with Phantom’s SOAR technology will accelerate a new age of analytics-driven security and expand Splunk’s vision as the security nerve center for SOCs around the world.”
Automation and orchestration are integral parts of security customers’ SOC strategies to accelerate incident response while addressing the security skills shortage. Phantom’s SOAR platform offers automation capabilities that will also assist IT teams in solving challenges in a widening range of use cases, including Artificial Intelligence for IT Operations (AIOps).
For more information about Splunk and Phantom, visit the Splunk website.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the expected benefits of the acquisition of Phantom, the impact of the acquisition on Splunk’s products and services, the capabilities of Phantom’s products and services and the expected benefits of the combined offerings. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: difficulties encountered in integrating the business, technologies, personnel and operations; costs related to the acquisition and integration; market acceptance of the acquisition and resulting products and services; Splunk’s inability to realize value from its significant investments in its business, including product and service innovations; and general market, political, economic and business conditions.
Additional information on potential factors that could affect Splunk’s financial results is included in the company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018, which is on file with the U.S. Securities and Exchange Commission. Splunk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.