Panda Security to be acquired by WatchGuard
The deal will see technology from both companies merge into a single brand platform
WatchGuard Technologies has agreed to purchase Spanish antivirus software developer Panda Security and integrate its systems into its own security platform to service customers and partners of both companies.
WatchGuard aims to provide a complete cyber security portfolio of products and services for its customers, and will, with time, integrate Panda’s technology into its own systems. This is especially true for the firm’s user-centric threat detection and response tools.
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Panda launched in 1998 as a security firm specialising in developing IT security services, predominantly antivirus software. Its popular Free Antivirus package has long been a favourite for home-based online security, although Pana has expanded its range of services to offer tools for businesses, as well as technology for preventing cyber crime.
Beyond providing user-focused security services, WatchGuard is known for producing secure appliances, such as the recently-reviewed Firebox M670.
“Businesses today face an increasingly sophisticated and evolving threat landscape, scarcity of trained security professionals, and an increasingly porous perimeter,” said WatchGuard’s CEO Prakash Panjwani.
“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.”
Among Panda’s most highly-prized assets is the patented technology TruPrevent, which amounts to proactive capabilities geared towards blocking unknown malware. This is in addition to the Collective Intelligence model it deploys to detect, analyse, and classify viruses in real-time.
The tools Panda is feeding into WatchGuard’s platforms are powered by a combination of automation, AI processes, and analyst-led investigation. The company also recently launched a sophisticated threat hunting service available for enterprises, as well as managed security service providers (MSSPs) who resell Panda services.
“We are thrilled to merge with WatchGuard because of the new scale and portfolio access it provides to Panda Security customers and partners,” said Panda’s 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 agreement, the value of which has been undisclosed, is likely to close in the second quarter of 2020.
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