Splunk to acquire Phantom

Splunk is all set to Phantom Cyber Corporation for approximately $350 million. Phantom is a leader in Security Orchestration, Automation and Response (SOAR) marketplace and once the acquisition is complete the founder and CEO for Phantom, Oliver Friedrichs will report to the senior vice president and general manager of security markets at Splunk, Haiyan Song.

“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 at Splunk.

Merritt said, “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.”

“Sourabh Satish and I founded Phantom to give SOC analysts a powerful advantage over their adversaries, a way to automatically and quickly resolve threats. 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.” said Friedrichs.