Watchguard gets its claws into Panda Security
Merger will create a 'powerful security platform', WatchGuard says
Network security vendor WatchGuard has acquired 30-year-old end-point protection provider Panda Security for an undisclosed sum.
WatchGuard said the combination of the two firms will create a "powerful security platform that bridges the network and user perimeter".
CEO of WatchGuard Prakash Panjwani said: "Businesses today face an increasingly sophisticated and evolving threat landscape, scarcity of trained security professionals, and an increasingly porous perimeter.
"As a result, network security, advanced end-point 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."
Bilbao-based Panda sells both commercial and consumer-focused end-point protection, while WatchGuard specialises in mid-market network security.
The vendor is distributed in the UK by QBS Software.
Dave Stevinson, managing director at QBS, told CRN:"We have been impressed by both Panda's technology and the management's vision.
"This will be one of many consolidations in the Cybersecurity space and makes natural sense."
The deal is subject to regulatory approval and is expected to close in Q2 this year.
Panda CEO Juan Santamaria Uriarte said: "We are thrilled to merge with WatchGuard because of the new scale and portfolio access it provides to Panda Security customers and partners.
"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."