Palo Alto Networks to buy Zingbox for $75m
September 11, 2019
Californian cyber-security company Palo Alto Networks is to acquire IoT security start-up Zingbox, for $75m.
The number of connected devices in enterprises is growing exponentially, yet most of these devices are unmanaged and pose a security risk. Current IoT point products mostly focus on device profiling and inventory, not on detecting or stopping sophisticated attacks. Organisations are forced to integrate multiple IoT security products across different vendors, introducing complexity, higher cost and manual effort.
San Francisco-based Zingbox’s cloud-based service and AI and machine learning technology for device and threat identification capabilities should accelerate Palo Alto Networks’ delivery of IoT security through its Firewall and Cortex platforms. Organisations could 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 Firewall and Cortex platforms.
"The proliferation of IoT devices in enterprises has left customers facing an enormous gap in protection against cyber-security attacks,” said Nikesh Arora, chairman and CEO of Palo Alto Networks. “With the proposed acquisition of Zingbox, 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 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. The acquisition is expected to close early next year, subject to the satisfaction of customary closing conditions.
"Our vision has always been to ensure that organisations realise the full benefits of IoT devices without sacrificing security,” said Xu Zou, CEO of Zingbox. “By joining forces with Palo Alto Networks, we will be able to secure connected devices at scale to help organisations embrace digital transformation."
Founded in 2014, Zingbox is an IoT lifecycle management provider with a cloud based service to discover, identify, secure and optimise devices using AI and machine learning. The company’s device-specific AI-powered machine learning platform uses real-time deep behavioural learning technology for IoT devices.