Palo Alto Networks has entered into a definitive agreement to acquire IoT security company Zingbox for $75 million. The acquisition is expected to close during the first quarter of 2020, subject to customary closing conditions.
Zingbox’s cloud-based service and AI and machine learning technology for device and threat identification capabilities will accelerate Palo Alto Networks delivery of IoT security through its next-generation Firewall and Cortex platforms, the company said in a statement.
Zingbox’s products will continue to be available to customers after the transaction closes, says the companies.
Zingbox co-founders, Xu Zou, May Wang, and Jianlin Zeng, will be joining Palo Alto Networks.
[Image courtesy: Zingbox]