View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cybersecurity
February 27, 2018

Splunk boosts security analytics portfolio with $350m startup acquisition

Splunk hopes to build a stronger portfolio in the Security Orchestration, Automation and Response (SOAR) field. 

By James Nunns

Splunk has made the biggest acquisition in its history with a deal that hopefully won’t give the company with nightmares.

The acquisition of Phantom Cyber Corporation, for approximately $350 million, will give the analytics company a stronger portfolio in the Security Orchestration, Automation and Response (SOAR) field.

The idea behind the technology is to improve the efficiency of security operation by automating tasks, orchestrating workflows, improving collaboration, and giving organisations the ability to respond to incidents at ‘machine speed’.

Splunk’s vision for the ‘security nerve centre’ is said to be enhanced by the Phantom acquisition, giving the company not just new tech to bolster its own offering, but staff as well.

“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.”

Data analytics & AI targeted as cure to customer challenges
The Golden Age of Wi-Fi Data
Data scientists in high demand as salaries beat national average

The acquisition is expected to close during the first half of 2018, subject to closing conditions and regulatory reviews. The move will see Oliver Friedrichs, Founder and CEO, Phantom report to Haiyan Song, the SVP and GM of security markets at 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.”

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Topics in this article : , ,
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.