Palo Alto Networks is buying security assets from IBM to expand customer base
Palo Alto Networks is buying cloud security software assets from IBM as part of a broader partnership that will give the cybersecurity company access to more consultants and a bigger customer base.
In a joint press release on Tuesday, the companies said Palo Alto is acquiring IBM's QRadar cloud software for an undisclosed sum and migrating existing customers to its security platform, Cortex Xsiam. IBM will train over 1,000 of its consulting employees on Palo Alto's products.
Consolidation has been ramping up in the security software industry as companies gear up for a swarm of attacks spawned by artificial intelligence. In March, Cisco closed its $28 billion acquisition of Splunk, the networking company's largest deal ever, snapping up the leading provider of security information and event management (SIEM) software.
Earlier on Wednesday, two other companies in the SIEM market, Exabeam and Thoma Bravo's LogRhythm, announced plans to merge.
