05:22 PM EDT, 05/15/2024 (MT Newswires) -- Palo Alto Networks ( PANW ) has agreed to acquire International Business Machines' ( IBM ) QRadar software-as-a-service assets as part of a broader partnership, the companies said late Wednesday.

IBM ( IBM ) will receive incremental payments from Palo Alto for QRadar on-premise clients who opt to migrate to the company's Cortex XSIAM platform, the companies said.

The deal is expected to close by the end of September. Financial terms weren't disclosed.

They said IBM Consulting will be a preferred managed security services provider for existing and future Palo Alto customers.

As part of the partnership, IBM ( IBM ) plans to expand its deployment of Palo Alto artificial intelligence-powered security platforms internally, adopting Cortex XSIAM for next-gen security operations and Prisma SASE 3.0 for zero-trust network security, the companies said.

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