Palo Alto Networks, Inc. completed the acquisition of Aporeto Inc. from Norwest Venture Partners, Wing Venture Partners, Data Collective, Comcast Ventures, National Grid Partners and Telia Ventures for approximately $140 million.
December 22, 2019
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Palo Alto Networks, Inc. (NYSE:PANW) entered into a definitive agreement to acquire Aporeto Inc. from Norwest Venture Partners, Wing Venture Partners, Data Collective, Comcast Ventures, National Grid Partners and Telia Ventures for approximately $150 million on November 25, 2019. Under the terms of the agreement, Palo Alto Networks will pay approximately $150 million in cash to acquire Aporeto, subject to customary adjustments. Post acquisition, Dimitri Stiliadis, co-founder and Chief Technology Officer and Satyam Sinha, co-founder of Aporeto have agreed to join Palo Alto Networks. During fiscal second quarter of 2020, Palo Alto Networks expects a diluted non-GAAP net income per share in the range of $1.11 to $1.13, which incorporates net expenses related to the proposed acquisition of Aporeto, using 100 to 102 million shares. and for fiscal year 2020, Palo Alto Networks expects a diluted non-GAAP net income per share in the range of $4.90 to $5.00, which incorporates net expenses related to the proposed acquisition of Aporeto, using 102 to 104 million shares. The acquisition is subject to the satisfaction of customary closing conditions and is expected to close during Palo Alto Networks fiscal second quarter of 2020. Anthony McCusker of Goodwin Procter LLP advised Aporeto. Sharon Flanagan of Sidley Austin LLP acted as legal advisor to Palo Alto Networks.
Palo Alto Networks, Inc. (NYSE:PANW) completed the acquisition of Aporeto Inc. from Norwest Venture Partners, Wing Venture Partners, Data Collective, Comcast Ventures, National Grid Partners and Telia Ventures for approximately $140 million on December 23, 2019. Consideration for the acquisition of Aporeto consisted of $139.8 million in cash and $4.3 million in replacement awards.
Palo Alto Networks, Inc. specializes in the development and implementation of IT security solutions for the enterprise. The group's activity is organized around three divisions:
- managed security services: data center management and storage of data in the cloud, data backup and recovery process management, real-time management and monitoring of IT infrastructure and applications, etc.;
- development of cybersecurity solutions: software solutions for detecting threats and intrusions, protecting against malicious programs, securing data, networks and computer systems (antivirus, anti-spam, web filtering, firewalls, etc.);
- security consulting services: training and updates on threats before, during and after attacks, risk management, etc.
Net sales are distributed geographically as follows: America (68.5%), Europe/Middle East/Africa (19.7%) and Asia/Pacific (11.8%).
Palo Alto Networks, Inc. completed the acquisition of Aporeto Inc. from Norwest Venture Partners, Wing Venture Partners, Data Collective, Comcast Ventures, National Grid Partners and Telia Ventures for approximately $140 million.
PALO ALTO NETWORKS, INC. 
