Palo Alto Ups The Ante In IoT Security, To Buy Zingbox
Zacks Investment Research | Sep 05, 2019 10:29PM ET
Palo Alto Networks (NYSE:PANW) recently announced a definitive agreement to acquire the IoT security start-up Zingbox for $75 million. The buyout is expected to close during the first quarter of fiscal 2020, ending October 2019.
The growing number of connected devices among enterprises calls for efficient management and stronger security in their IoT landscape. Currently, IoT focuses mainly on device profiling and inventory, neglecting the need to detect and prevent advanced attacks.
Moreover, in order to bridge this security gap, organizations are forced to use different IoT security products from multiple vendors, making it difficult to manage and look into the security interface, along with appropriating higher costs.
Zingbox’s technology for device and threat identification capabilities will enable Palo Alto to expedite and improve delivery of IoT security to organizations. The combination will allow organizations to enhance visibility and security of their IoT landscape.
Moreover, the acquisition is expected to boost Palo Alto’s Next-Generation Firewall and AI-based security platform — Cortex — by implementing Zingbox's cloud-based service and advanced AI and ML technology into the former’s IoT security offerings.
Palo Alto has been taking various steps to expand its Cortex Architecture capabilities since its inception in February this year. The platform’s APIs were also recently integrated into the acquired assets of Demisto. Its efforts are bearing fruit and attracting large number of notable deals.
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