Quick Take
Palo Alto Networks (PANW) has announced the proposed acquisition of CloudGenix for $420 million in cash.
CloudGenix has developed software defined wide area networking [SD-WAN] technologies.
With the deal, PANW bolsters its Prisma offering for retail branches and remote office locations.
The stock looks reasonably priced at its current level, so my bias is cautiously Bullish as continued trends toward distributed work grow in the future.
Target Company
San Jose, California-based CloudGenix was founded to provide SD-WAN technologies enabling enterprises to more effectively deploy and manage distributed applications to all locations