Palo Alto Networks to acquire IBM's QRadar SaaS assets; forms AI security partnership

Palo Alto Networks Inc

Palo Alto Networks agreed to acquire IBM's QRadar SaaS assets, including IP rights; closing expected by end of September 2024.
IBM will be Palo Alto Networks' preferred MSSP, train >1,000 consultants on Palo Alto products, and adopt Cortex XSIAM and Prisma SASE 3.0 internally for 250,000 employees.
Palo Alto Networks will integrate IBM's watsonx LLMs into Cortex XSIAM to enhance automation and AI capabilities.
IBM will expand internal use of Palo Alto Networks platforms; joint SOC and Cyber Range to be established.
Financial terms of the QRadar acquisition were not disclosed; transaction subject to regulatory approvals.

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