Palo Alto seeks $75m acquisition of Zingbox

Cybersecurity player Palo Alto Networks is to acquire IoT security company Zingbox in a $75m cash deal.

The acquisition is expected to close during Palo Alto Networks' fiscal first quarter of 2020.

It is said that that Zingbox’s cloud-based service, AI and machine learning technology for device and threat identification capabilities will accelerate Palo Alto Networks delivery of IoT security through its firewall and Cortex platforms. 

"The proliferation of IoT devices in enterprises has left customers facing an enormous gap in protection against cybersecurity attacks," said Nikesh Arora, chairman and CEO of Palo Alto Networks.

"With the proposed acquisition of Zingbox we will provide a 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." 

Xu Zou, CEO of Zingbox, added: "Our vision has always been to ensure that organisations realise the full benefits of IoT devices without sacrificing security. By joining forces with Palo Alto Networks we will be able to secure connected devices at scale to help organisations embrace digital transformation."

Share this story