SILICON VALLEY — Palo Alto Networks, the global cybersecurity leader, announced that it has entered into a definitive agreement to acquire The Crypsis Group, a leading incident response, risk management and digital forensics consulting firm. A Pillsbury team led by Corporate and M&A partner Matt Swartz advised The Crypsis Group on the transaction.

Under the terms of the agreement, Palo Alto Networks will acquire The Crypsis Group for a total purchase price of $265 million, subject to adjustment. The proposed acquisition is expected to close during Palo Alto Networks' fiscal first quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.

Palo Alto Networks provides best-in-class prevention, detection and response capabilities through Cortex XDR. The addition of The Crypsis Group's security consulting and forensics capabilities will strengthen Cortex XDR's ability to collect rich security telemetry, manage breaches and initiate rapid response actions. The Crypsis Group's experts and insights will also fuel the Cortex XDR platform with a continuous feedback loop between incident response engagements and product research teams to prevent future cyberattacks. The company expects to integrate The Crypsis Group's processes and technology into Cortex XDR to further enhance its ability to safeguard organizations at every stage of the security lifecycle.

The Crypsis Group currently operates as part of the ZP Group, an organization with a portfolio of companies specializing in breach response, national security solutions and IT staffing.

In addition to Matt Swartz, the Pillsbury team advising Crypsis included Jarrod Murphy, Keith Ranta, Brian Blum, Alvin Dunn, Mario Dottori, Bianca Bowen, Justin Krawitz, Tara Shankar, Alex Kwon and Ian Carlin.