U.S. security network giant Palo Alto Networks recently announced its intent to acquire Internet of Things (IoT) security outfit Zingbox for US$75 million. The acquisition is set to close in 1Q 2020. The announcement was made during the firm’s financial result reporting where it reported 28% Year-over-Year (YoY) revenue growth for 2019 to $2.9 billion, a successful result of Palo Alto’s bid to extend its Total Addressable Market (TAM) to new markets. The Zingbox acquisition fits right into this strategy.
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