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Palo Alto Networks to acquire cloud services infrastructure protection provider

Palo Alto Networks Inc. has agreed to acquire Evident.io Inc. for a total purchase price of $300 million

The all-cash acquisition is expected to close during Palo Alto Networks' fiscal third quarter.

Evident.io's co-founders, Tim Prendergast and Justin Lundy, will join Palo Alto Networks following the completion of transaction.

Evident.io is a provider of security and compliance automation for public cloud networks.