Palo Alto Networks to acquire Zingbox for $75m.

Palo Alto Networks, the global cybersecurity leader, agreed to acquire Zingbox, an IoT security company, for $75m in cash. The proposed acquisition is expected to close during Palo Alto Networks fiscal first quarter of 2020, subject to the satisfaction of customary closing conditions. "The proliferation of IoT devices in enterprises has left customers facing an enormous gap in protection against cybersecurity attacks. With the proposed acquisition of Zingbox, we will provide a first-of-its-kind subscription for our Next-Generation Firewall and Cortex platforms that gives customers the ability to gain control, visibility, and security of their connected devices at scale." – Nikesh Arora, chairman and CEO of Palo Alto Networks.