Splunk has announced a definitive agreement to acquire Phantom Cyber Corporation, a security orchestration, automation and response (SOAR) vendor. Under the terms of the agreement, Splunk will acquire Phantom for a total purchase price of approximately $350 million, subject to adjustment, to be paid in cash and stock.
The acquisition is expected to close during the first half of 2018, subject to customary closing conditions and regulatory reviews. Oliver Friedrichs, founder and CEO, Phantom will report to Haiyan Song, senior vice president and general manager of security markets, Splunk.
SOAR platforms improve the efficiency of security operations by automating tasks, orchestrating workflows, improving collaboration, and enabling organizations to respond to incidents at machine speed. Customers will be able to use Splunk technology for orchestration and automation as an integral part of their Security Operations Center (SOC) platform to accelerate incident response while addressing the skills shortage. The combination will help SecOps teams to advance cyber defense and reduce organizational risk using analytics-driven security; respond faster by accelerating incident response; and work smarter and reduce staffing and skills challenges.
Once integrated with the Splunk platform, the company says, IT teams will be able to leverage these automation capabilities to help solve automation challenges in a widening range of use cases, including Artificial Intelligence for IT Operations (AIOps). For more information, go to www.splunk.com.