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WatchGuard Technologies to acquire Panda Security

WatchGuard Technologies has announced that it has entered into a definitive agreement to acquire Panda Security.

Once the integration is complete, WatchGuard says the joint customer and partner community will “benefit from a powerful security platform that bridges the network and user perimeter, touting the same combination of innovative security features and simplified packaging, deployment and management capabilities that both companies are known for today”. 

For over 20 years, WatchGuard has developed innovative solutions designed to simplify the delivery and management of advanced enterprise-grade network security, delivered to midmarket enterprises via a strong global ecosystem of partners.

The company offers the single-SKU delivery of a full stack of advanced network security solutions, including GAV, IPS, VPN, sandboxing, and advanced threat detection, correlation, and response.

“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 endpoint 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,” said Prakash Panjwani, CEO of WatchGuard.

“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.”

Panda Security has spent the last 30 years revolutionising the advanced endpoint protection space for businesses and consumers. Panda Security was the first endpoint protection platform (EPP) vendor to offer a 100% attestation service. The company also recently launched a sophisticated threat hunting service available for direct enterprise consumption and for Managed Security Service Providers (MSSPs) who resell Panda Security services. 

“In the short term, the acquisition of Panda Security makes best-in-class endpoint detection and response, threat hunting, endpoint AV, email security, patching, and data compliance and encryption accessible to our customer base through a trusted vendor and their IT solution provider of choice,” continued Panjwani.

“Longer term, our customers and partners will enjoy the additional benefits that come from these solutions being tightly integrated with the core WatchGuard offering.”

“We are thrilled to merge with WatchGuard because of the new scale and portfolio access it provides to Panda Security customers and partners,” said Juan Santamaria Uriarte, CEO of Panda Security.

“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.”

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in Q2 2020. WatchGuard was represented in the transaction by Paul Hastings LLP and Cuatrecasas, Gonçalves Pereira LLP. Additionally, Jefferies International acted as sole financial advisor to Panda Security in this transaction.

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