Palo Alto Networks (NASDAQ:PANW) has announced a major partnership with International Business Machines Corporation (NYSE:IBM) to provide AI-powered security solutions for customers.

The partnership, announced on May 15, 2024, involves Palo Alto Networks acquiring IBM’s QRadar SaaS assets.

This move is part of a broader alliance aimed at leveraging Palo Alto Networks' and IBM’s capabilities to enhance security outcomes through advanced AI technology.

The transaction is expected to close by the end of September 2024, heralding a new era of AI-powered cybersecurity solutions.