Palo Alto Networks Expands IoT Security through Acquisition

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By Michela Menting | 3Q 2019 | IN-5610

 

Zingbox Acquisition

NEWS


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.

Banking on AI

IMPACT


Palo Alto Networks has built its reputation as one of the leaders in cybersecurity from a network perspective. The firm has one of the best firewall solutions currently in the market. It has extended its security capabilities to the cloud (Prisma), 5G/IoT offerings, and most ...

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