Databricks to expand security business through acquisition of Panther Labs
Databricks has agreed to acquire cybersecurity company Panther Labs. The acquisition would be the company’s third security acquisition, while new funding is reportedly being discussed as potentially valuing the company at 1,650billion dollars and 1,750billion dollars. The possibility of pursuing an initial public offering (IPO) next year has also been mentioned.
Databricks has agreed to acquire cybersecurity company Panther Labs. The deal is drawing attention because it reflects the company’s move to rapidly expand its AI-powered security capabilities.
The acquisition price was not disclosed. The deal is Databricks’ third cybersecurity acquisition.
According to reports, Databricks continues to pursue a strategy of building AI security solutions that use autonomous agents to defend against attacks.
The industry views this acquisition as a move made with competition from established security companies such as CrowdStrike and Splunk in mind.
The company is preparing a new funding round, and there is speculation that this round could value Databricks at 1,650billion dollars to 1,750billion dollars.
Some have also reported that Databricks may pursue an initial public offering (IPO) next year.
Specific plans for integrating Databricks and Panther Labs, as well as the detailed terms of the acquisition, have not yet been disclosed.
Once additional disclosures are released, the acquisition amount and the product integration schedule are expected to be confirmed.
Sources: Benzinga
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