Santa Clara, California-based Palo Alto Networks has confirmed that it is acquiring San Jose-based CloudGenix, a firm that is a leader in software-defined wide area networks (SD-WANs). The deal has bee closed for $420 million.
Founded in 2013 by Kumar Ramachandran, Mani Ramasamy, Navneet Yadav, and Venkataraman Anand, CloudGenix allows legacy WAN's to transform into a radically simplified, secure application-defined fabric, and virtualizing heterogeneous underlying transports into a unified hybrid WAN.
CloudGenix has picked up around $99 million in funding with its last investment coming in April last year when the company secured $65 million as part of Series C financing. The backers of the firm include names like CRV, ClearSky, Intel Capital, Mayfield Fund, Bain Capital Ventures, and others.
Palo Alto Networks, on the other hand, is an American multinational cybersecurity company that is registered on the New York Stock Exchange. The firm has secured $65 million in funding so far. The investors of the company include names like Northgate Capital, Icon Ventures, Japan Asia Investment, Lehman Brothers, Greylock Partners, Globespan Capital Partners, Sequoia Capital, and others.
Nikesh Arora, the CEO of Palo Alto Networks, commenting on the deal said, "As the enterprise becomes more distributed, customers want agile solutions that just work, and that applies to both security and networking. Upon the close of the transaction, the combined platform will provide customers with a complete SASE offering that is best-in-class, easy to deploy, cloud-managed, and delivered as a service."
CloudGenix Co-Founder and CEO Kumar Ramachandran through a statement said that “By joining forces with Palo Alto Networks, we will accelerate our ability to serve customers and partners in their network and security transformation."
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