January 3, 2024 at 11:33AM
SonicWall acquires San Francisco startup Banyan Security, adding zero-trust network access tech to its offerings. The financial terms weren’t disclosed. Banyan Security, which raised $47M over two rounds, enables secure user-to-application connections and defends against real-time threats. The acquisition expands SonicWall’s portfolio to include SSE and ZTNA technologies, aligning with its “best of suite” strategy.
From the meeting notes, it appears that SonicWall has announced the acquisition of San Francisco startup Banyan Security, focusing on zero-trust network access technology. The financial terms of the deal were not disclosed. Banyan Security has raised a total of $47 million over two funding rounds and has developed technology to securely connect users to applications and infrastructure. SonicWall stated that the acquisition strengthens its portfolio with secure service edge (SSE) and zero trust network access (ZTNA) technologies. This aligns with their “best of suite” strategy, which includes network, endpoint, wireless, cloud email, and threat intelligence under a single, multi-tenant portal. Additionally, this acquisition follows SonicWall’s acquisition of Solutions Granted, a managed service security provider.