WatchGuard has reached agreement on the acquisition of Panda Security, one of Europe’s largest antivirus vendors. It is not known how much money is involved in the acquisition.
Panda Security is particularly well known for its antivirus software, of which free versions are also available. The portfolio also includes services for companies. To support this, it uses a combination of automation, artificial intelligence processes and research capabilities. In addition, Panda Security provides an advanced threat hunting service.
WatchGuard, in turn, has a strong focus on securing corporate networks. Typical WatchGuard products include firewalls, but also secure wifi appliances.
“Companies today face an increasingly sophisticated and evolving threat landscape and a scarcity of trained security professionals,” WatchGuard-CEO Prakash Panjwani said. As a result, IT decision-makers would see advanced endpoint protection, network security and multi-factor authentication, for example, as top investment priorities.
By bringing the companies together, they want to enable customers and partners to consolidate their security foundation under a single brand. “Together, we look forward to building a security platform that bridges the network and the user perimeter,” Panda Security-CEO Juan Santamaria says.
The aim is to finalise the agreement in the second quarter of 2020.
The security market has been consolidating recently. Security suppliers want to be able to address a broad security issue. One noteworthy acquisition that took place, for example, was Carbon Black, which was acquired by VMware for 2.1 billion dollars (1.9 billion euros). Palo Alto Networks in turn bought Demisto for 560 million dollars (491 million euros).