SANTA CLARA, Calif.,
Sept. 20, 2019 /PRNewswire/
-- Palo Alto Networks (NYSE: PANW), the global cybersecurity
leader, today announced it has completed its acquisition of
Zingbox, an IoT cybersecurity company. The acquisition will
accelerate Palo Alto Networks delivery of IoT security through its
Next-Generation Firewall and Cortex™ platforms.
"We are excited to welcome Zingbox to Palo Alto Networks," said
Nikesh Arora, chairman and CEO of
Palo Alto Networks. "With Zingbox's IoT capabilities, 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 cloud-based service uses AI and machine learning
technologies to help organizations discover, identify, secure, and
optimize connected devices. With the addition of Zingbox, Palo Alto
Networks will offer customers IoT security with best-in-class
visibility and automated in-line prevention.
Zingbox's current product will continue to be available and the
company's co-founders, Xu Zou,
May Wang, and Jianlin Zeng, will join Palo Alto Networks. Palo
Alto Networks paid approximately $75
million in cash, excluding purchase price adjustments, to
acquire Zingbox.
About Palo Alto Networks
Palo Alto Networks, the global cybersecurity leader, is shaping
the cloud-centric future with technology that is transforming the
way people and organizations operate. Our mission is to be the
cybersecurity partner of choice, protecting our digital way of
life. We help address the world's greatest security challenges with
continuous innovation that seizes the latest breakthroughs in
artificial intelligence, analytics, automation, and orchestration.
By delivering an integrated platform and empowering a growing
ecosystem of partners, we are at the forefront of protecting tens
of thousands of organizations across clouds, networks, and mobile
devices. Our vision is a world where each day is safer and more
secure than the one before. For more information, visit
https://www.paloaltonetworks.com
Palo Alto Networks, Cortex, and the Palo Alto Networks logo are
trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions
throughout the world. All other trademarks, trade names, or service
marks used or mentioned herein belong to their respective
owners.
Forward-Looking Statements
This press release contains "forward-looking" statements that
are based on our management's beliefs and assumptions and on
information currently available to management. Such forward-looking
statements include statements regarding the expected benefits of
the acquisition of Zingbox to us, our market position, and our
customers, the expected impact of the acquisition on our offerings,
our expectations regarding our existing and acquired offerings
performing as intended, and our integration plans. These
forward-looking statements are subject to the safe harbor
provisions created by the Private Securities Litigation Reform Act
of 1995. There are a significant number of factors that could cause
actual results to differ materially from statements made in this
press release, including risks associated with new product and
subscription releases, risks associated with managing our rapid
growth; our ability as an organization to successfully integrate
Zingbox and acquire and integrate other companies, products or
technologies in a successful manner; the risks associated with new
products and subscription and support offerings, including the
discovery of software bugs; our ability to attract and retain new
customers; delays in the development or release of new subscription
offerings, or the failure to timely develop and achieve market
acceptance of new products and subscriptions as well as existing
products and subscription and support offerings; rapidly evolving
technological developments in the market for network security
products and subscription and support offerings; length of sales
cycles; and general market, political, economic and business
conditions.
Additional risks and uncertainties are included under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in our annual
report on Form 10-K filed with the Securities and Exchange
Commission ("SEC") on September 9,
2019, which is available on our website at
investors.paloaltonetworks.com and on the SEC's website at
www.sec.gov. Additional information will also be set forth in other
filings that we make with the SEC from time to time. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made or to update the reasons why
actual results could differ materially from those anticipated in
the forward-looking statements, even if new information becomes
available in the future.
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SOURCE Palo Alto Networks, Inc.