Palo Alto Networks to buy Zingbox for $75 million to beef up IoT security

Palo Alto Networks is set to acquire IoT security provider Zingbox for a total purchase amount of $75 million (£61m), the company has announced.With this acquisition, Palo Alto Networks will be able to accelerate the delivery of IoT security through its Next-Generation Firewall and Cortex platforms by leveraging Zingbox's cloud-based service and advanced artificial intelligence and machine learning technology for device and threat identification capabilities. Once both are integrated, the Zingbox technologies will help Palo Alto Networks to provide strong IoT security with best-in-class visibility and automated in-line prevention, the company added. The proliferation of IoT devices in enterprises has left customers facing an enormous gap in protection against cybersecurity attacks. With the proposed acquisition of Zingbox, 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,” said Nikesh Arora, Palo Alto Networks CEO and chairman in a statement.