WatchGuard to acquire Panda Security
Network security and intelligence vendor WatchGuard Technologies has entered into a definitive agreement to acquire Panda Security, a global provider of endpoint protection.
Once the integration is complete, customers and partners will have access to a security platform that bridges the network and user perimeter.
WatchGuard's focus has been on simplifying delivery and management of advanced enterprise-grade network security which is delivered to midmarket enterprises via a global ecosystem of partners.
The company offers the single-SKU delivery of a full stack of advanced network security solutions, including GAV, IPS, VPN, sandboxing, and advanced threat detection, correlation, and response.
The acquisition of Panda Security expands the company's portfolio of user-centric threat detection and response products and services.
"Businesses today face an increasingly sophisticated and evolving threat landscape, scarcity of trained security professionals, and an increasingly porous perimeter," says WatchGuard CEO Prakash Panjawi.
"As a result, network security, advanced endpoint protection, multi-factor authentication, secure networking, and threat detection and response capabilities are consistently ranked as top security investment areas by IT decision-makers and IT solution providers who serve them.
"By bringing the companies together, we enable our current and future customers and partners to consolidate their fundamental security services under a single brand, backed by the innovation and quality that is a core part of both companies' DNA.
Panda Security utilised a combination of automated, AI-driven processes and security analyst-led investigation services to become the first endpoint protection platform (EPP) vendor to offer a 100% attestation service, certifying the legitimacy and safety of all running applications.
The company also recently launched a threat hunting service available for direct enterprise consumption and for managed security service providers (MSSPs) who resell Panda Security services.
"In the short term, the acquisition of Panda Security makes best-in-class endpoint detection and response, threat hunting, endpoint AV, email security, patching, and data compliance and encryption accessible to our customer base through a trusted vendor and their IT solution provider of choice," adds Panjwani.
"Longer term, our customers and partners will enjoy the additional benefits that come from these solutions being tightly integrated with the core WatchGuard offering.
"We are thrilled to merge with WatchGuard because of the new scale and portfolio access it provides to our customers and partners," says Panda Security CEO Juan Santamaria.
"We are also excited to see our innovative product portfolio be delivered via WatchGuard's strong global network of partners. Together, we look forward to building a security platform that bridges the network and user perimeter, with capabilities that are unmatched in the cybersecurity market.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in Q2 2020.
WatchGuard was represented in the transaction by Paul Hastings LLP and Cuatrecasas, Gonçalves Pereira LLP.
