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Palo Alto to buy cloud services firm for $420 million

Cybersecurity firm Palo Alto Networks said on Tuesday it would acquire Silicon Valley-based cloud services company CloudGenix Inc for about $420 million in cash. The deal is expected to close during Palo Alto’s fiscal fourth quarter. CloudGenix co-founders Kumar Ramachandran, Mani Ramasamy and Venkataraman Anand will join Palo Alto.

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