United States. WatchGuard Technologies has closed the acquisition of advanced endpoint protection provider, Panda Security.
WatchGuard announced the signing of a definitive agreement to purchase Panda in March 2020. Panda is now a wholly-owned subsidiary of WatchGuard.
"Our customers and partners need access to enterprise-grade security built for the unique needs and requirements of midsize businesses. WatchGuard is focused on providing these security services through an MSP-centric security platform that simplifies all aspects of security delivery and consolidates our position as the de facto security solution for midsize businesses," said Prakash Panjwani, CEO of WatchGuard Technologies.
The combined company's immediate focus is to provide partners and customers with access to the new and expanded portfolio of security products and solutions. Once portfolios are integrated, partners and customers benefit from advanced threat detection and response functionality powered by modern AI capabilities, behavioral profiling techniques, and advanced security event correlation, as well as additional benefits, including centralized management across network and endpoint security.
Panda Security Early Access Program
WatchGuard resellers will have immediate access to Panda Adaptive Defense 360, which includes both the endpoint protection platform (EPP) and endpoint detection and response (EDR) capabilities, and Advanced Reporting Tool products through the Panda Security Early Access program that was changed on June 1, 2020.
This program accelerates these new products in the hands of WatchGuard partners quickly for in-house training and deployment, as well as for resale to end users.
"We believe Panda's people and technology were the perfect complement to WatchGuard's culture and goals," Panjwani said.
"I am pleased to join WatchGuard's board of directors and continue to advise on day-to-day operations to help build an integrated company that provides the industry's best security solution from the network to the endpoint," said Juan Santamaría Uriarte, CEO of Panda Security.
As part of the transaction, Investing Profit Wisit Wisely (IPW) joined Vector Capital and Francisco Partners as a shareholder of WatchGuard Technologies. Juan Santamaría Uriarte will join WatchGuard's board of directors. WatchGuard was in the situation of Paul Hastings LLP and Cuatrecasas, Gonçalves Pereira LLP. In addition, Jefferies International acted as sole financial advisor to Panda Security, and Uría Menéndez acted as legal advisor to the Panda Security vendors in this company.
