Palo Alto Networks to Acquire CloudGenix for USD 420 Million in Cash | Financial Buzz

Palo Alto Networks to Acquire CloudGenix for USD 420 Million in Cash

Palo Alto Networks (NYSE: PANW) reported entry into a definitive agreement to acquire CloudGenix, Inc.  Palo Alto Networks will pay USD 420 Million in cash to acquire CloudGenix.  This transaction is expected to close in the fourth quarter.  Applications are venturing from corporate data centers to the cloud and software as a service are requiring secure access to applications from anywhere in the world as organizations struggle to manage access for distributed workforces. 

World class security from the cloud will allow organizations and modern workforce access to all applications from all locations. 

Palo Alto Networks Prisma™ Access is the industry’s most comprehensive SASE platform, delivering a global cloud network with cloud-delivered security for all users. With the proposed acquisition, Palo Alto Networks will integrate CloudGenix’s cloud-managed SD-WAN products to accelerate the intelligent onboarding of remote branches and retail stores into Prisma Access. This combination will extend the breadth of the Prisma Access SASE platform, address network and security transformation requirements, and accelerate the shift from SD-WAN to SASE.

“As the enterprise becomes more distributed, customers want agile solutions that just work, and that applies to both security and networking. Upon the close of the transaction, the combined platform will provide customers with a complete SASE offering that is best-in-class, easy to deploy, cloud-managed, and delivered as a service.”
– Nikesh Arora, chairman and CEO, Palo Alto Networks

“CloudGenix’s vision has been to revolutionize branch offices through cloud-delivered Autonomous WANs. With CloudGenix, enterprises gain cloud-scale economics for the branch office with the freedom to use any WAN, any cloud, and best-of-breed infrastructure services. We thank our customers for making us an industry leader in enterprise SD-WAN. By joining forces with Palo Alto Networks, we will accelerate our ability to serve customers and partners in their network and security transformation.”
– Kumar Ramachandran, co-founder and CEO, CloudGenix