The Crypsis Group

The Crypsis Group — the consulting company founded in 2015 specializing in holding actions for response to cyber attacks, risk management and digital criminalistics.

History

2020: Palo Alto Networks purchased Crypsis Group

On August 24, 2020 the The Crypsis Group company announced sale of the business of Palo Alto Networks. Transaction amount was $265 million. The buyer will pay the transaction by means of money (without attraction of own actions).

"As malefactors continue to improve methods of the attacks, the risk of a loss of reputation and a financial position of the companies increases. The organizations wishing further development of the business need reliable partners who will be able to react to cyberincidents quickly and effectively and also, making use of the knowledge and experience, to prevent possible future attacks" — contains in the statement.

Palo Alto Networks buys the company on protection of the enterprises against cyber attacks for $265 million

The product portfolio of Palo Alto Networks contains the platform for response to incidents and protection against the hacker attacks under the name Cortex XDR. It is supposed that the The Crypsis Group command will join development of this product.

In particular, Palo Alto Networks expects to carry out more profound incident analysis and to use results of this analysis which will be made by engineers of The Crypsis Group, for further improvement of the Cortex XDR platform.

As of the end of August, 2020 in a The Crypsis Group command over 150 information security experts who in a year investigate about 1.3 thousand one of the most difficult incidents worked. In 2019 and 2020 the company was recognized by one of the best specialists rendering services of investigation of cyberincidents. The rating was by the Enterprise Security magazine.

"Acquisition of The Cryptic Group considerably will strengthen our positions as solution provider in the field of cyber security. Having combined efforts, we will be able to help clients not only to predict and prevent cyber attacks, but also to mitigate effects of any invasions which they can face" — said in Palo Alto Networks.[1]

Notes