Summary by Futu AI
Palo Alto Networks, Inc. announced the completion of its acquisition of IBM's QRadar Software as a Service (SaaS) assets on September 4, 2024, as per a press release issued by the company. The acquisition, which was finalized on August 31, 2024, is part of a strategic partnership between Palo Alto Networks and IBM to provide customers with advanced threat prevention and security operations. The deal includes a no-cost migration service for eligible customers to transition from QRadar to Palo Alto Networks' Cortex XSIAM platform, facilitated by IBM Consulting. IBM will also deploy Palo Alto Networks' security platforms for its own workforce and adopt Palo Alto Networks' AI and automation solutions. The acquisition aims to enhance security operations and threat response for customers by integrating multiple SOC tools into a single AI-powered platform. Palo Alto Networks is recognized as a leader in cybersecurity, offering AI-powered solutions in network security, cloud security, and security operations.