Ushers New Age of Analytics-Driven Security
and IT with Addition of Security Orchestration Automation and
Response
Splunk Inc. (NASDAQ: SPLK), first in delivering “aha” moments
from machine data, today announced a definitive agreement to
acquire Phantom Cyber Corporation, a leader in Security
Orchestration, Automation and Response (SOAR). 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.
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Phantom Mission Control (Graphic:
Business Wire)
“Phantom’s employees and technology significantly expand and
strengthen Splunk’s vision for the security nerve center and for
business revolution through IT,” said Doug Merritt, President and
CEO, Splunk. “Splunk is committed to continuously pushing the
limits of technology to help our customers get the answers they
need from their data. I am very excited to reach this definitive
agreement with Phantom and look forward to welcoming the team to
Splunk.”
“Sourabh Satish and I founded Phantom to give SOC analysts a
powerful advantage over their adversaries, a way to automatically
and quickly resolve threats,” said Oliver Friedrichs, Founder and
CEO, Phantom. “Combining SOAR with the industry’s leading big data
platform is a revolutionary advance for security and IT teams and
will further cut down the time it takes them to eliminate threats
and keep the business running. We are thrilled to empower Splunk
customers to solve these important challenges.”
Analytics-Driven Security and SOAR
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. According to Gartner*, “By year-end 2020, 15% of
organizations with a security team larger than five people will
leverage SOAR tools for orchestration and automation reasons, up
from less than 1% today.”
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
● Work smarter and reduce staffing and skills challenges
Automation Beyond Security
Once integrated with the Splunk platform, 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). According to Gartner**, “By
2022, 40% of all large enterprises will combine big data and
machine learning functionality to support and partially replace
monitoring, service desk and automation processes and tasks, up
from 5 percent today.”
Business Outlook
“The majority of purchase price consideration will be paid from
cash on our balance sheet. Total equity consideration plus Phantom
employee retention incentives will result in less than one percent
total dilution from this transaction,” said Dave Conte, chief
financial officer, Splunk.
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 expected dilution to Splunk
stockholders. 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 closing
and integrating the merged business, technologies, personnel and
operations; costs related to the acquisition; 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 Quarterly
Report on Form 10-Q for the quarter ended October 31, 2017, 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.
*Gartner, Innovation Insight for Security Orchestration,
Automation and Response by Claudio Neiva Craig Lawson, Toby Bussa,
Gorka Sadowski, May 30, 2017
**Gartner, Market Guide for AIOps Platforms, Will Cappelli,
Colin Fletcher, Pankaj Prasad, August 03, 2017
Gartner does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner's research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About Splunk Inc.
Splunk Inc. (NASDAQ: SPLK) turns machine data into answers.
Organizations use market-leading Splunk solutions with machine
learning to solve their toughest IT, Internet of Things and
security challenges. Join millions of passionate users and discover
your “aha” moment with Splunk today: http://www.splunk.com.
Social Media: Twitter | LinkedIn | YouTube | Facebook
Splunk, Splunk>, Listen to Your Data, The Engine for Machine
Data, Splunk Cloud, Splunk Light and SPL are trademarks and
registered trademarks of Splunk Inc. in the United States and other
countries. All other brand names, product names, or trademarks
belong to their respective owners. © 2018 Splunk Inc. All rights
reserved.
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Media ContactSplunk Inc.Richard Brewer-Hay,
415-852-5897rbrewerhay@splunk.comorInvestor ContactSplunk
Inc.Ken Tinsley, 415-848-8476ktinsley@splunk.com
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