Splunk has signed an agreement to acquire Phantom Cyber, a leader in Security Orchestration, Automation and Response (SOAR) for approximately $350 million.
Oliver Friedrichs, Founder and CEO, Phantom will report to Haiyan Song, senior vice president and general manager of security markets, Splunk.
Analytics-Driven Security and SOAR
SOAR platforms improve the efficiency of security operations by automating tasks, orchestrating workflows, improving collaboration, and enabling organizations to respond to incidents at machine speed. According to Gartner*, “By year-end 2020, 15% of organizations with a security team larger than five people will leverage SOAR tools for orchestration and automation reasons, up from less than 1% today.”
Customers will be able to use Splunk® technology for orchestration and automation as an integral part of their Security Operations Center (SOC) platform to accelerate incident response while addressing the skills shortage.
The combination will help SecOps teams to:
- Advance cyber defense and reduce organizational risk using analytics-driven security
- Respond faster by accelerating incident responseWork smarter and reduce staffing and skills challenges.