PANW - Palo Alto Networks and IBM to Jointly Provide AI-powered Security Offerings; IBM to Deliver Security Consulting Services Across Palo Alto Networks Security Platforms | Benzinga
News Summary:
- IBM to platformize internal security solutions with Palo Alto Networks; Palo Alto Networks will be its preferred cybersecurity partner across network, cloud and SOC
- Palo Alto Networks will incorporate watsonx large language models (LLMs) in Cortex XSIAM to deliver additional Precision AI™ solutions
- IBM will bolster its leading security services to drive a significant book of business in cybersecurity and AI security, featuring Palo Alto Networks platforms in its expanded portfolio
- IBM will train more than 1,000 of its security consultants on migration, adoption and deployment of Palo Alto Networks products
- Palo Alto Networks has agreed to acquire IBM's QRadar Software as a Service (SaaS) assets, and the two companies will partner to offer seamless migration for QRadar customers to Cortex XSIAM
- IBM will accelerate innovation and investment in data security and identity and access management for hybrid cloud and AI; will partner with Palo Alto Networks on security operations, threat management, and DevSecOps
SANTA CLARA, Calif. and ARMONK, N.Y., May 15, 2024 /PRNewswire/ -- Palo Alto Networks (NASDAQ:PANW), the global cybersecurity leader, and IBM (NYSE:IBM), a leading provider of hybrid cloud and AI, today announced a broad-reaching partnership to deliver AI-powered security outcomes for customers. The announcement is a testament to Palo Alto Networks' and IBM's commitment to each other's platforms and innovative capabilities.
The expanding and complex enterprise technology landscape, driven by digital transformation and the rapid growth of AI, presents significant cybersecurity challenges. To address increasingly sophisticated threats and evolving attack surfaces, organizations are prioritizing comprehensive security platforms that are underpinned by AI. Palo Alto Networks and IBM aim to help streamline and transform security operations, stop threats at scale, and accelerate incident remediation for their customers with the complete AI-powered approach that is required. These industry dynamics, paired with today's partnership announcement, present significant opportunities for both companies.
As part of this expanded partnership, Palo Alto Networks has agreed to acquire IBM's QRadar SaaS assets, including QRadar intellectual property rights, subject to customary closing conditions. Upon closing, Palo Alto Networks and IBM will facilitate the migration of QRadar SaaS clients to Cortex® XSIAM®, the leading next-generation security operations (SOC) platform, with advanced AI-powered threat protection supported by 3,000 out-of-the-box detectors. On-premise (on-prem) QRadar clients who wish to remain on QRadar on-prem will continue to receive IBM features and support including security, usability and critical bug fixes, as well as updates to existing connectors and the ability to expand consumption. For both QRadar SaaS and on-prem clients who chose to migrate to Cortex XSIAM, the companies, along with their ecosystem of business partners, will closely collaborate to enable a smooth transfer, with IBM and Palo Alto Networks offering no-cost migration services to qualified customers. As part of this agreement, IBM will receive incremental payments from Palo Alto Networks for QRadar on-prem clients who choose to migrate to the Cortex XSIAM platform.
Nikesh Arora, Chairman and CEO, Palo Alto Networks:
"The security industry is at an inflection point where AI will transform businesses and deliver outcomes not seen before. It's a moment to accelerate growth and innovation. Together with IBM, we will capitalize on this trend, combining our leading security solutions with IBM's pioneering watsonx AI platform and premier services to drive the future of security platformization with complete, AI-powered, secure-by-design offerings."
Arvind Krishna, Chairman and CEO, IBM:
"Strategic partnerships like the one we're announcing today with Palo Alto Networks bring with them significant benefits across the industry. Advanced ...