SANTA CLARA, Calif. – Palo Alto Network, the global cybersecurity leader, today announced that it has entered into a definitive agreement to acquire CloudGenix, Inc., an industry-leading cloud-delivered SD-WAN provider. Under the terms of the agreement, Palo Alto Networks will pay approximately $420 million in cash to acquire CloudGenix, subject to adjustments. The acquisition is expected to close during Palo Alto Networks' fiscal fourth quarter, subject to the satisfaction of regulatory and customary closing conditions.
As applications continue to move from corporate data centers to the cloud and SaaS, and users require secure access to applications from anywhere in the world, organizations are struggling to manage access for the distributed workforce. Current remote access solutions for the branch and retail offices are complex, costly and often insecure. To support the modern workforce, organizations need access to all applications from all locations, delivered via a global network as a service for accelerated access, and with integrated world-class security from the cloud. This is what the industry calls "secure access service edge," or SASE.
Palo Alto Networks Prisma Access is the industry's most comprehensive SASE platform, delivering a global cloud network with cloud-delivered security for all users. With the proposed acquisition, Palo Alto Networks will integrate CloudGenix's cloud-managed SD-WAN products to accelerate the intelligent onboarding of remote branches and retail stores into Prisma Access. This combination will extend the breadth of the Prisma Access SASE platform, address network and security transformation requirements, and accelerate the shift from SD-WAN to SASE.
CloudGenix has attracted approximately 250 customers, many of which are in the Fortune 1000 and include companies in healthcare, retail, manufacturing, finance, banking, tech and hospitality. CloudGenix was named a 2020 Gartner Peer Insights Customers' Choice for WAN Edge Infrastructure. CloudGenix co-founders, Kumar Ramachandran, Mani Ramasamy and Venkataraman Anand, have agreed to join Palo Alto Networks.
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