Palo Alto Networks Announces Intent to Acquire Zingbox
September 2019 by Emmanuelle Lamandé
Palo Alto Networks announced that it has entered into a definitive agreement to acquire Zingbox, an IoT security company, for a total purchase price of $75 million, subject to adjustment, to be paid in cash. The proposed acquisition is expected to close during Palo Alto Networks fiscal first quarter of 2020, subject to the satisfaction of customary closing conditions.
Zingbox’s cloud-based service and advanced AI and machine learning technology for device and threat identification capabilities will accelerate Palo Alto Networks delivery of IoT security through its Next-Generation Firewall and Cortex™ platforms. Organizations will gain the ability to improve the visibility and security of their IoT landscape. Once combined, Palo Alto Networks will offer IoT security with visibility and automated in-line prevention, all integrated with the Next-Generation Firewall and Cortex platforms.
Zingbox’s products will continue to be available to customers after the transaction closes. The company’s co-founders, Xu Zou, May Wang, and Jianlin Zeng, will join Palo Alto Networks.