The newly acquired company, Aporeto, is a 2016 founded company that is a known machine identity-based microsegmentation company. The company functions by using identity-based access control to secure workloads across all infrastructures.
By acquiring this organization, Palo Alto majorly aims at strengthening the Prisma suite of cloud security services, which it launched earlier this year. The deal is expected to come to a total close during the second quarter of the Palo Alto’s fiscal year.
“Our solid Q1 performance, particularly in the Americas, gives us confidence that we have the right formula for global sales leadership as demonstrated by improved productivity and sales hiring over the last six months,” CEO Dheeraj Pandey said in a statement. “We have also seen momentum in key areas of our business, including the transition to subscription and an improved 28% attach rate of new products onto our core HCI platform.”
As an individual company, Palo Alto has recorded extreme growth and increase in market sales and revenue, especially in this last quarter. Its Non-GAAP net income for the quarter was $104.8 million, or $1.05 per diluted share. Revenue came to $771.9 million, up 18 percent year-over-year.
Palo Alto Networks’ multi-platform approach to security is clearly resonating with our customers. Our Next-Gen Security offerings performed extremely well in our first fiscal quarter, bolstering our confidence in our long-term prospects for Prisma and Cortex,” CEO Nikesh Arora said in a statement. “At our recent Ignite conference, we introduced significant product enhancements, including Cortex XDR 2.0, SD-WAN and DLP capabilities for Prisma Access and the integration of Twistlock and PureSec into Prisma Cloud, that should sustain this momentum.”