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Palo Alto Networks is buying security assets from IBM to expand customer base

May 16, 2024
CNBC
Contributed by: Drex DeFord
Summary
Palo Alto Networks is acquiring cloud security software assets from IBM as part of a broader partnership to expand its access to consulting services and customers. The acquisition involves IBM's QRadar cloud software, with existing customers to be migrated to Palo Alto's Cortex Xsiam platform within three months. The deal is part of a trend of consolidation in the cybersecurity industry, which includes high-profile merges like Cisco’s acquisition of Splunk. IBM will train 1,000 consultants to use Palo Alto products and incorporate its Watsonx language models into Cortex Xsiam. The transaction is expected to close by the end of September, pending regulatory approval.
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