California-based cybersecurity powerhouse Palo Alto Networks announced Tuesday that it has entered into a definitive agreement to acquire The Crypsis Group, a McLean-based incident response, risk management and digital forensics consulting firm, in a $265 million, all-cash transaction.
The firm’s CEO, Bret Padres, will join Palo Alto Networks. The Crypsis Group currently operates as part of the McLean-based ZP Group, an organization with a portfolio of companies specializing in breach response, national security solutions and IT staffing.
“The proposed acquisition of The Crypsis Group will significantly enhance our position as the cybersecurity partner of choice, while expanding our capabilities and strengthening our Cortex strategy. By joining forces, we will be able to help customers not only predict and prevent cyberattacks but also mitigate the impact of any breach they may face,” said Nikesh Arora, chairman and CEO of Palo Alto Networks, in a statement.
