US security company WatchGuard Technologies has concluded the acquisition of Spanish cybersecurity solutions provider Panda Security.
WatchGuard announced the signing of a definitive agreement to purchase Panda in March 2020. Three months on, 30-year-old company Panda is now a wholly owned subsidiary of WatchGuard.
In a statement released today, the combined company said the completed deal will "enable current and future customers and partners to consolidate their fundamental security services for protection from network to endpoint under a single company."
CEO of WatchGuard Prakash Panjwani said the finalized deal would bring both immediate and long-term benefits.
“Our customers and partners need access to enterprise-grade security built for the unique needs and requirements of the midmarket. WatchGuard is focused on delivering these security services via an MSP-focused security platform that simplifies every aspect of security delivery and solidifying our position as the de facto security solution for the midmarket,” said Panjwani.
“The completed acquisition of Panda Security, and the subsequent integration of its portfolio into WatchGuard Cloud, represents a significant milestone for the company and will result in both immediate and long-term benefits for our customers and partners that will address common challenges with security complexity, rapidly changing network topologies, purchasing models, and more.”
One of the first orders of business for the new combined company will be to provide partners and customers from both companies access to the newly expanded portfolio of security solutions.
By integrating portfolios, the company hopes that partners and customers will benefit from advanced threat detection and response functionality fueled by modern AI capabilities, behavior-profiling techniques, and cutting-edge security event correlation, as well as additional operational benefits such as a centralized management across network and endpoint security.
WatchGuard is headquartered in Seattle, Washington, with offices throughout North America, Europe, Asia Pacific, and Latin America. The company describes itself as a leading global provider of network security and intelligence, secure Wi-Fi, and multi-factor authentication.
Prior to its acquisition by WatchGuard, Panda was owned by Investing Profit Wisely (IPW), an investment company focused exclusively on software publishing companies and based in Spain. Panda is headquartered in Madrid and Bilbao.