The company said it entered into an Asset Purchase Agreement with IBM on May 15, 2024 and agreed to acquire IBM's QRadar SaaS assets, including QRadar intellectual property rights. Closing is subject to customary closing conditions, including regulatory approvals.

1. 01

   The company said it entered into an Asset Purchase Agreement with IBM on May 15, 2024 and agreed to acquire IBM's QRadar SaaS assets, including QRadar intellectual property rights. Closing is subject to customary closing conditions, including regulatory approvals.

2. 02

   The company said it expects the transaction portion to close by the end of September 2024, subject to regulatory approvals and other customary closing conditions. Financial terms of the transaction have not been disclosed.

3. 03

   The company said it will work with IBM to support the migration of QRadar SaaS clients to Cortex XSIAM after closing, and will offer no-cost migration services to qualified customers. IBM will receive incremental payments from the company for QRadar on-prem clients who choose to migrate to the Cortex XSIAM platform.

4. 04

   The company said it announced an AI-powered security partnership with IBM and plans to integrate watsonx large language models (LLMs) into Cortex XSIAM. IBM will train more than 1,000 security consultants on the company's products and expand its deployment of Cortex XSIAM and Prisma SASE 3.0 to safeguard more than 250,000 of its global workforce.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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