Cloud security software developer Evident.io, which had raised about $49m from investors including GV, has agreed to an acquisition by Palo Alto Networks for $300m in cash.

Cybersecurity software producer Palo Alto Networks agreed on Wednesday to acquire US-based cloud security technology developer Evident.io for $300m in cash, allowing internet and technology group Alphabet to exit.

Evident’s core product, the Evident Security Platform, continuously monitors deployments in cloud computing platforms such as Microsoft Azure or Amazon Web Services to detect and manage security risks.

The company’s technology will enhance Palo Alto Networks’ existing application programming interface-based security offering, and co-founders Tim Prendergast and Justin Lundy will join…