Palo Alto Networks to Acquire Chronosphere for $3.35 Billion (2)

Palo Alto Networks Inc. announced on Wednesday that it was acquiring Chronosphere Inc. for $3.35 billion to boost its AI-enabled cybersecurity offerings.

Chronosphere, which was founded in 2019 and based in New York, helps customers wade through huge volumes of information and “focus on data and insights that matter to reduce data complexity, optimize costs and remediate issues faster,” according to its website.

“Chronosphere was built to scale for the data demands of the AI era from day one,” said Palo Alto Networks Chief Executive Officer Nikesh Arora in Wednesday’s statement.

Arora told Bloomberg TV on Thursday that the acquisition ...