SEATTLE and MADRID – March 9, 2020 – WatchGuard Technologies, a leading global provider of network security and intelligence, secure Wi-Fi and multi-factor authentication, today announced that it has entered into a definitive agreement to acquire Panda Security, a leading global provider in advanced endpoint protection. Once the integration is complete, our 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 led the industry in developing innovative solutions that simplify the delivery and management of advanced enterprise-grade network security, delivered to midmarket enterprises via a strong global ecosystem of partners. The company proudly 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. Under its current leadership team, WatchGuard has continued to deliver on its vision of providing a complete security portfolio of products and services that protect users both inside and beyond the network perimeter, including secure Wi-Fi solutions, multi-factor authentication, and now most recently, user-focused security services. The acquisition of Panda Security fuels that vision and expands the company’s portfolio of user-centric threat detection and response products and services.
“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 revolutionizing the advanced endpoint protection space for businesses and consumers alike. Uniquely powered by a combination of automated, AI-driven processes and security analyst-led investigation services, Panda Security was the first endpoint protection platform (EPP) vendor to offer a 100% attestation service, certifying the legitimacy and safety of all running applications. 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 our 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, and Uría Menéndez as legal advisor, to Panda Security in this transaction.
About Panda Security
Celebrating its 30th anniversary in 2020, Panda Security is a leading global provider of advanced cybersecurity solutions. The company offers a full portfolio of user-centric security products and services for protecting people, devices, and the networks they connect to from malicious websites, malware, spam, and other targeted attacks. With offerings for businesses and consumers alike, Panda Security offers advanced endpoint protection, sophisticated threat hunting services, and more. Designed for maximum protection with minimal complexity, the company packages its robust portfolio of security services to take the guesswork out of endpoint security.