Palo Alto Networks to buy Zingbox – PE Hub
Palo Alto Networks said Sept. 4 that it agreed to buy Zingbox for $75 million. Zingbox, an IoT security company, has raised $31.94 million in venture funding, PitchBook said. Brandon C. Parris and Jessica Isokawa of Morrison & Foerster advised Palo Alto Networks.
SANTA CLARA, Calif., Sept. 4, 2019 /PRNewswire/ – Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, today announced that it has entered into a definitive agreement to acquire Zingbox, an IoT security company, for a total purchase price of $75 million, subject to adjustment, to be paid 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.