Cybersecurity player Palo Alto Networks outlined an expanded arrangement with global energy technology company SLB intended to cover a digitally transformed power industry, along with separately revealing earnings growth in the year to end-July.
SLB and Palo Alto Networks jointly stated the digital transformation of the energy sector necessitated upgraded cybersecurity products, which they plan to meet by combining their resources.
Their expanded arrangement involves combining SLB’s know-how in cloud and edge technologies, along with its domain expertise, with Palo Alto Networks’ cybersecurity platforms.
The companies expect to produce cybersecurity systems capable of tackling evolving threats spurred by industrial adoption of digital and AI technologies.
An SLB technology stack combined with Palo Alto Networks’ cybersecurity systems will enable the company to “achieve comprehensive security across its network, cloud and edge platforms”. This will be open to “thousands of domain and AI users” to bolster security when they collaborate.
Nikesh Arora, chair and CEO of Palo Alto Networks, said companies can use a platform approach to simplify management processes, cut total cost of ownership and boost security.
SLB CEO Olivier Le Peuch expects the collaboration to cement the company’s position as a “digital partner of choice”.
The executive said a maturing digital transformation of the energy sector “makes cybersecurity paramount to our operations and the digital solutions we offer to our customers”.
Numbers
The companies’ announcement came on the same day Palo Alto Networks revealed net income in its fiscal 2024 (the year to 31 July) hit $2.6 billion compared with $439.7 million in fiscal 2023, on revenue of $8 billion, up from $6.9 billion.
Arora pointed to “strong execution” on its platform strategy in its fiscal Q4, with CFO Dipak Golechha highlighting operating margin increases and “strong” cash generation.
The post Palo Alto, SLB power-up energy sector security appeared first on Mobile World Live.
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