Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, today announced that it has entered into a definitive agreement to acquire cloud security start-up Dig Security, an innovative provider of Data Security Posture Management (DSPM).
Today, almost 70% of organizations already have data stored in the public cloud1. With increased interest and adoption of generative AI, sensitive data is often even more spread out across cloud services, including distributed databases, vector databases, PaaS services, and more. Organizations need help identifying sensitive data, effectively managing user access, and implementing robust security measures to protect against internal and external threats. Simultaneously, the relentless surge in the volume and impact of cloud data breaches persists2, causing significant damage to enterprises. This underscores the critical role that DSPM will play within a comprehensive cloud security strategy.
Dig's DSPM solution enables organizations to discover, classify, monitor, and protect sensitive data across all cloud data stores, which will give Palo Alto Networks' customers visibility into and control of their multi-cloud data estate. After the close of the proposed acquisition, Dig's capabilities will be seamlessly integrated into the Prisma® Cloud platform to provide near real-time data protection from code to cloud. Dig was founded by entrepreneurs Dan Benjamin, Ido Azran, and Gad Akuka. They will continue leading their teams in joining the Prisma Cloud team at Palo Alto Networks after closing.
Lee Klarich, Chief Product Officer for Palo Alto Networks:
"As companies build AI-enabled applications, there will be a substantial increase in the amount of data transferred to the cloud. Dig's highly innovative DSPM technology helps safely enable this shift, and its dedicated team will complement and help advance Palo Alto Networks' strengths across cloud security. The announcement of our intent to join forces with Dig reinforces our longstanding commitment to our team in Israel and to continue growing our footprint with its talented and dedicated cybersecurity professionals."
Ankur Shah, SVP Products, Prisma Cloud for Palo Alto Networks:
"Data protection was the top priority for cloud security cited in the 2023 The State of Cloud-Native Security Report. Upwards of 75% of respondents noted that the number of point tools they use creates blind spots. Dig lets security teams see and secure their data across multi-cloud environments. This visibility and security is becoming increasingly important in the age of generative AI. Dig's innovation, coupled with Prisma Cloud's leading code-to-cloud intelligence highlighted in the recent Darwin release, will create what CISOs need to drive complete cloud security and data protection with a single, integrated, cloud-native platform."
Dan Benjamin, Co-Founder & CEO, Dig Security:
"Modern cloud applications leverage a broad set of data stores to meet the complex needs of businesses. We developed an award-winning DSPM solution to alleviate this strain by providing a centralized offering to monitor and manage the security of these cloud data stores. Integrating Dig's technology with Prisma Cloud will enable customers to effectively manage the security of their diverse data stores in modern cloud applications and reduce the risk of data breaches. My co-founders and I look forward to continuing our innovation journey with Palo Alto Networks to make the world safer."