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Splunk closes acquisition of Phantom Cyber Corporation

InfrastructureSecurity & Privacy

Former CEO and founder of Phantom Cyber Corporation expects the company to further expand into the security and IT market after being acquired by Splunk Inc.

“We had almost 10,000 community users, over 200 apps, and support for over 1,000 APIs. Splunk will allow us to supercharge that,” said Oliver Friedrichs in a April 9 blog post on Splunk’s website.

Splunk, which produces software for searching, monitoring, and analyzing machine-generated big data, closed the acquisition of Phantom Cyber Corporation April 9. In the short term, business will remain the usual, suggested Friedrichs.

“The Phantom team will work with our counterparts at Splunk to support both new and existing customers,” he said.

In the long term, however, Friedrichs said their goal is to speed up the adoption of security operations platforms in the market. They also expect to see their automation capabilities solving automation challenges outside of security. Friedrichs pointed to a recent a report from Gartner that says by 2022, 40 per cent of all large enterprises will combine big data and machine learning functionality to support and partially replace monitoring, service desk and automation processes and tasks, up from five per cent today.

“We want to drive adoption of automation and orchestration beyond just security,” he explained.