Palo Alto Networks will acquire parts of IBM’s QRadar SaaS and become IBM’s preferred cybersecurity collaboration partner.

Palo Alto Networks and IBM have announced a partnership aimed at providing customers with AI-powered security solutions. Palo Alto Networks is acquiring IBM’s QRadar SaaS assets, including intellectual property rights. The transaction is complete and will cost Palo Alto approximately $500 million.

Following the acquisition, Palo Alto Networks will work with IBM to transition QRadar SaaS customers to Cortex XSIAM, a security operations platform with AI-powered threat protection. IBM promises a “seamless and free” migration. Customers who continue to use QRadar on-premises will continue to receive support from IBM. Palo Alto Networks and IBM will offer free migration services to qualified customers.

Strategic use of AI technology

As part of the collaboration, Palo Alto Networks and IBM will establish a joint Security Operations Center (SOC). IBM Consulting will become the preferred provider of managed security services for Palo Alto Networks clients. This center will include a managed SOC and a cyber space where clients can enjoy interactive experiences with Palo Alto Networks security products.

IBM will also implement Palo Alto Networks’ AI technologies internally, including Cortex XSIAM for advanced security operations and Prisma SASE 3.0 for network security based on the zero-trust model. In addition, Palo Alto Networks plans to integrate Watsonx LLMs with Cortex XSIAM to increase automation capabilities.

This article originally appeared on May 16. The text has been updated with the latest information.