Palo Alto Networks buys cybersecurity company Morta; companies don’t disclose terms
SANTA CLARA, Calif. (AP) — Security software provider Palo Alto Networks said Monday that it has acquired Morta Security, a cybersecurity company, to bulk up its offerings for companies.
Silicon Valley-based Morta Security has been operating in “stealth mode,” meaning it has not disclosed much information about itself in order to avoid alerting competitors about a product or other activity. The startup was founded about two years ago and has been working to develop technology that will help large businesses defend their networks from advanced cyberattacks.
The companies did not disclose terms of the deal.
Shares of Palo Alto Networks picked up 40 cents to $57.84 during the trading day and rose $3.26, or 5.6 percent, to $61.10 in aftermarket trading.
There have been prominent examples lately of companies suffering from hacks.
At the turn of the New Year, hackers reportedly published the usernames and phone numbers of 4.6 million users of Snapchat, a disappearing-message service. That breach came two weeks after Target Corp. was hit with a massive data security breach that affected as many as 40 million debit and credit card holders.
Software giant Symantec has said cyberattacks against U.S. businesses jumped 42 percent in 2012, and banks have listed cyberattacks as a significant threat to their businesses.
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