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Palo Alto Networks surely loves buying security startups. Today, she added to her growing collection when she announced her intention to acquire Zingbox, the IoT security startup, for $ 75 million.
The company had raised $ 23.5 million, according to Crunchbase data. The three founders, Xu Zou, May Wang and Jianlin Zeng, will join Palo Alto after the official sale.
With Zingbox, the company gets IoT security assets, which is becoming increasingly important at the time companies deploy sensors and smart devices connected to the Internet. Although these tools can greatly benefit customers, they often carry a huge security risk.
Zingbox, founded in 2014, offers Palo Alto a modern cloud-based solution, built on a subscription model, as well as talented engineers to help further develop the solution. Nikesh Arora, President and CEO of Palo Alto Networks, certainly sees that.
"The proliferation of IoT devices in enterprises has left customers facing a huge gap in protection against cybersecurity attacks. With the Zingbox Acquisition Project, we will provide a one-of-a-kind subscription to our next-generation firewall and firewall platforms, enabling customers to gain control, visibility and security their devices connected to large scale, "said Arora. in a report.
This is the fourth safety startup that the company has purchased this year. She acquired two companies, PureSec and Twistlock, the same day last spring. Earlier this year, she bought Demisto for $ 560 million. All of these acquisitions aim to build the company's portfolio of modern security solutions without having to create such tools internally.
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