Palo Alto Drops Amid Oracle Hookup

Palo Alto Networks (NASDAQ: PANW) saw its shares dwindle Tuesday on word that Oracle (NYSE:ORCL) has chosen Palo Alto Networks VM-Series Next-Generation Firewall (NGFW) as the technology to power the Oracle Cloud Infrastructure (OCI) Network Firewall.

As enterprise customers build new applications or migrate their existing Oracle applications to OCI, they need best-in-class security to help stop new threats and reduce the risk of breaches. Since 2019 Palo Alto Networks and Oracle have been working together to address this need for Oracle Cloud Infrastructure customers.

Palo Alto Networks VM-Series Next-Generation Firewall, which has been available on Oracle Cloud Marketplace, is now joined by the new OCI Network Firewall, a natively integrated offering. Together, Palo Alto Networks and Oracle provide solutions that customers need to help secure their cloud adoption journey.

The OCI Network Firewall is a cloud native firewall service that extends best-in-class NGFW capabilities to protect OCI workloads and helps provide centralized protection against cyberattacks across OCI. With it, customers can quickly turn on and secure their applications and cloud environment with firewall features and scale their security across their cloud deployment.

Palo Alto Chief Product Officer Lee Klarich said, "Oracle has made security foundational and built-in for OCI customers to help them address regulatory compliance requirements, stop security threats and concerns, and prevent security-related outages.

"We are incredibly proud that they have chosen Palo Alto Networks technology to power these new capabilities."

PANW shares fell, however $8.49, or 1.7%, to $491.78, while ORCL shares dipped 37 cents to $69.67.