Palo Alto Network closes $75m acquisition of Zingbox
Palo Alto Networks, the US-based information security firm, has completed the acquisition of Zingbox, an Internet of things (IoT) cybersecurity company.
The deal is set to accelerate Palo Alto Networks delivery of IoT security through its next-generation firewall and Cortex platforms, and totalled $75 million in cash, excluding purchase price adjustments, to acquire Zingbox.
"We are excited to welcome Zingbox to Palo Alto Networks," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "With Zingbox's IoT capabilities, we will provide a first-of-its-kind subscription for our Next-Generation Firewall and Cortex platforms that gives customers the ability to gain control, visibility, and security of their connected devices at scale.”
Zingbox's cloud-based service uses AI and machine-learning technologies to help organisations discover, identify, secure, and optimise connected devices. With the addition of Zingbox, Palo Alto Networks will offer customers IoT security with best-in-class visibility and automated in-line prevention.
Zingbox's current product will continue to be available and the company's co-founders, Xu Zou, May Wang, and Jianlin Zeng, will join Palo Alto Networks.
In December of last year, Palo Alto Networks was selected by CenturyLink to enhance its security offerings. Leveraging Palo Alto Networks’ next-generation firewalls, with advanced threat detection and visibility, CenturyLink says that it is responding to the demand for greater agility in premises security.