Palo Alto Networks announces intent to acquire CloudGenix
The acquisition is expected to close during Palo Alto Networks’ fiscal fourth quarter
Palo Alto Networks has announced that it has entered into a definitive agreement to acquire CloudGenix, a cloud-delivered SD-WAN provider. Under the terms of the agreement, Palo Alto Networks will pay approximately $420 million in cash to acquire CloudGenix, subject to adjustments. The acquisition is expected to close during Palo Alto Networks’ fiscal fourth quarter, subject to the satisfaction of regulatory and customary closing conditions.
"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.
Palo Alto Networks Prisma Access delivers 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.
“CloudGenix’s vision has been to revolutionise 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.