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Earnings Outlook: Palo Alto Networks has transformed itself with more than $1 billion in acquisitions

Palo Alto Networks Inc. has undergone two major management shifts and announced five acquisitions in the past year, transforming the security-software company as its industry responds to an ever-shifting landscape.

Palo Alto PANW, +1.54% announced last week it is acquiring Demisto for $560 million, its fifth acquisition of the past 12 months. Demisto is a so-called SOAR — or security orchestration, automation and response — company that uses machine learning to aid in automating cybersecurity functions.

Palo Alto announced it was buying cloud-threat defense company RedLock for $173 million in cash in October, a $100 million acquisition of Israel-based endpoint detection and response company Secdo in April, a $300 million acquisition of public-cloud infrastructure security company Evident.io a month before that, and a $105 million deal in February 2018 for LightCyber, a company specializing in so-called “Behavioral Attack Detection solutions” that pick up on attacks that slip past more traditional security controls.

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