Operational intelligence and analytics company Splunk has signed a definitive agreement to acquire Palo Alto-based security technology company Phantom for $350 million. Oliver Friedrichs, founder and CEO, Phantom, will report to Haiyan Song, senior vice president and general manager of security markets with Splunk, said the companies in a statement.

Splunk first partnered with Phantom in 2016, demonstrating how their security orchestration and playbook automation complemented Splunk’s adaptive response.

The acquisition is expected to close during the first half of 2018, subject to customary closing conditions.

[Image courtesy: Phantom]