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Palo Alto agrees to buy CloudGenix for $420M

Cybersecurity company Palo Alto Networks Inc. agreed to acquire CloudGenix Inc. for about $420 million in cash.

The deal is expected to close during Palo Alto Networks' fiscal fourth quarter, subject to the satisfaction of regulatory and customary closing conditions, according to a March 31 news release.

CloudGenix develops and operates a software-defined enterprise wide-area network, or SD-WAN, for hybrid clouds and a mobile workforce.

Palo Alto Networks will use the deal to integrate CloudGenix's cloud-managed SD-WAN to accelerate the intelligent onboarding of remote branches and retail stores into Prisma Access.