Palo Alto Networks to acquire Demisto for $560mn
Santa Clara, California-based cybersecurity firm, Palo Alto Networks, announced today that it has entered into a definitive agreement to purchase 100% of the equity owned by Demisto. A leading cybersecurity company, with specialized solutions in the security orchestration, automation and response space, Demisto has reportedly developed a highly effective go-to-market strategy enabling it to grow its customer base by an average of 150 customers, approximately 25% of which belong to the Fortune 500 and include large organizations in healthcare, high technology, financial services and other industry verticals.
Palo Alto Networks will pay a total consideration of US$560mn for Demisto. The figure will be paid in a combination of cash and company stock and is subject to adjustment. Demisto will reportedly continue to execute its strategy of aggressive growth following the expected closure of the deal in Q3 2019.
Demisto will use its orchestration and automation technologies to improve and accelerate Palo Alto Networks Application Framework strategy and assist in the company’s development of immediate threat prevention strategies.
"We are delighted to welcome Demisto into the Palo Alto Networks family. Coupled with our Application Framework, Demisto will help us strengthen our commitment to security teams by delivering a platform that provides higher levels of integration, automation, and innovation to prevent successful cyberattacks,” said Nikesh Arora, chairman and CEO of Palo Alto Networks.
Demisto’s innovative automated playbooks have been used previously to help reduce cybersecurity alerts that require a human review by 95%, sorting through and addressing minor threats using AI and machine learning, allowing humans to focus on the most complex issues facing a system.
Demisto's products will continue to be available to customers and partners after the transaction closes. Demisto founders, Slavik Markovich, Rishi Bhargava, Dan Sarel and Guy Rinat, will join Palo Alto Networks.
Slavik Markovich, CEO of Demisto said: "We have dedicated ourselves to the challenge of automation because we believe that relying on people alone to combat threats will fail against the scale of today's attacks. Palo Alto Networks strategy resonates with our own vision. And we have found a like-minded team that shares our conviction that the future of security is all about automation and AI. We're thrilled to be joining them to help make it a reality.”
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.