“Our customers and partners need access to enterprise-grade security built for the unique needs and requirements of the mid-market. WatchGuard focuses on providing these security services through an MSP-focused security platform that simplifies all aspects of security delivery and solidifies our position as the de facto security solution for the mid-market,” explains Prakash Panjwani, CEO of WatchGuard Technologies. “The complete acquisition of Panda Security, and the subsequent integration of its portfolio into WatchGuard Cloud, represents a significant milestone for the company and will generate both immediate and long-term benefits for our customers and partners in addressing the common challenges of security complexity, rapidly evolving network topologies, purchasing models, and more.”
The combined company’s immediate goal is to provide partners and customers of both companies with access to the newly expanded portfolio of security solutions. Once the portfolios are integrated, partners and customers will benefit from advanced threat detection and response functionality powered by modern artificial intelligence (AI) capabilities, behavioral profiling techniques, and state-of-the-art security event correlation, as well as additional operational benefits such as centralized network and endpoint security management.
Panda Security Early Access Program:
WatchGuard distributors will enjoy immediate access to Panda Adaptive Defense 360, which includes both the Endpoint Protection Platform (EPP) and Endpoint Detection and Response (EDR) capabilities, and the Advanced Reporting Tool products through the Panda Security Early Access Program, launched on June 1, 2020. This new program will quickly put these exciting new products in the hands of WatchGuard partners for internal training and deployment, as well as for marketing to end users.
“We believe Panda’s team and technology are a perfect fit with and complement WatchGuard’s culture and objectives,” Panjwani noted. “Working together through the final stages of a major acquisition and implementing integration efforts during a global pandemic has been a unique experience. Although we’ve been physically separated while working remotely, the shared experience has accelerated our approach and further confirmed that WatchGuard and Panda will be a powerful combination.”.
“I am pleased to join the WatchGuard board of directors and continue advising on day-to-day operations to help build an integrated company that provides the best security solution on the market, spanning from the network to the endpoint,” said Juan Santamaría Uriarte, CEO of Panda Security. “In its 30 years as a company, Panda has developed a strong culture of passion, dedication, and commitment to excellence with our customers and among our own team. WatchGuard’s culture and approach are a reflection of our own, and as we begin a new chapter as members of the WatchGuard team, I am excited about everything we will accomplish together.”.
As part of the transaction, Investing Profit Wisely (IPW) will join Vector Capital and Francisco Partners as a shareholder in WatchGuard Technologies. Juan Santamaría Uriarte will join the WatchGuard board of directors. WatchGuard was represented in the transaction by Paul Hastings LLP and Cuatrecasas, Gonçalves Pereira LLP. Jefferies International acted as exclusive financial advisor to Panda Security, and Uría Menéndez acted as legal advisor to the sellers of Panda Security in this transaction.
