Panda Security acquired by WatchGuard Technologies

Network security, secure Wi-Fi, and multi-factor authentication business WatchGuard Technologies has agreed a deal to acquire Spanish endpoint protection provider Panda Security.

Posted Monday, March 16th 2020
Panda Security acquired by WatchGuard Technologies

Juan Santamaria Uriarte

A WatchGuard statement said Panda Security was the first endpoint protection platform (EPP) vendor to offer a 100 per cent attestation service, certifying the legitimacy and safety of all running applications.

The transaction is subject to regulatory approvals, and is expected to close in the second quarter of this year.

Panda Security was advised by Uría Menéndez and Jefferies International on the deal, while WatchGuard was advised by Cuatrecasas and Paul Hastings.

WatchGuard’s products and services are used around the world by nearly 10,000 security resellers and service providers to protect more than 80,000 customers.

Juan Santamaria Uriarte, CEO of Panda Security, said: “We are thrilled to merge with WatchGuard because of the new scale and portfolio access it provides to our customers and partners. 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.”

Prakash Panjwani, CEO of WatchGuard, said: “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. 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.”