SLB and Palo Alto Networks expand collaboration to strengthen cybersecurity for the energy sector

Rhea-AI Summary

SLB (NYSE: SLB) and Palo Alto Networks (NASDAQ: PANW) are expanding their collaboration to strengthen cybersecurity for the energy sector. This partnership combines SLB's cloud and edge technologies with Palo Alto Networks' cybersecurity solutions to address evolving cyber threats in the industry's digital transformation.

Key aspects of the collaboration include:

• SLB integrating Palo Alto Networks' AI-powered cybersecurity platforms into its technology stack
• Enhancing security across SLB's network, cloud, and edge platforms
• Developing solutions for edge products and services
• Enabling secure collaboration for thousands of users on SLB's Delfi digital platform

This partnership aims to strengthen SLB's security infrastructure and drive future enhanced solutions for the energy sector's growing cybersecurity needs.

Positive

• Expansion of cybersecurity collaboration with industry leader Palo Alto Networks
• Integration of advanced AI-powered cybersecurity platforms into SLB's technology stack
• Enhanced security for SLB's network, cloud, and edge platforms
• Development of new solutions for edge products and services
• Potential for improved cybersecurity offerings for SLB's energy sector customers

Negative

• None.

Insights

Tech Expert

The collaboration between SLB and Palo Alto Networks signifies a crucial step in fortifying cybersecurity for the energy sector. By integrating Palo Alto's AI-powered platforms like Prisma SASE, Prisma Cloud and Cortex XSIAM, SLB is enhancing its digital infrastructure to protect against evolving cyber threats.

This partnership is particularly significant as it addresses the unique challenges faced by the energy industry in its digital transformation journey. The focus on edge products and services is noteworthy, as it prepares for the industry's shift towards automated and autonomous operations. This proactive approach could potentially reduce downtime, improve operational efficiency and mitigate financial losses from cyber attacks.

However, the success of this collaboration will depend on how effectively these solutions are implemented and maintained over time. The energy sector's complex systems and critical infrastructure require constant vigilance and adaptation to new threats.

Financial Analyst

This expanded collaboration has positive implications for both SLB and Palo Alto Networks. For SLB, it strengthens its position as a digital partner of choice in the energy sector, potentially leading to increased market share and customer loyalty. The integration of advanced cybersecurity solutions could also reduce operational risks, potentially lowering insurance costs and improving investor confidence.

For Palo Alto Networks, this partnership opens up significant opportunities in the lucrative energy sector. As the industry continues its digital transformation, the demand for cybersecurity solutions is likely to grow substantially. This could translate into increased revenue streams and market expansion for Palo Alto Networks.

Investors should monitor the execution of this collaboration and its impact on both companies' financial performance in the coming quarters. Key metrics to watch include revenue growth, new customer acquisitions and profit margins in the relevant business segments.

Digital transformation in the energy industry continues to drive comprehensive cybersecurity solutions in the face of growing cyber threats

HOUSTON & SANTA CLARA, Calif.--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) and global cybersecurity leader Palo Alto Networks (NASDAQ: PANW) today announced they are expanding their collaboration to strengthen cybersecurity for the energy sector.

The companies will combine SLB’s cloud and edge technologies and domain expertise in the energy industry with Palo Alto Networks’ cross-industry, platform-based cybersecurity solutions. This will not only help SLB remain on the forefront with its own security infrastructure, but also help drive future enhanced solutions to address evolving cyber threats as the industry’s adoption of digital solutions and artificial intelligence accelerates.

“The maturation of our industry’s digital transformation makes cybersecurity paramount to our operations, and the digital solutions we offer to our customers,” said Olivier Le Peuch, chief executive officer, SLB. “Through this collaboration, we will continue to enhance and strengthen our role as our customers’ digital partner of choice.”

As part of the collaboration, SLB will integrate Palo Alto Networks Precision AI™-powered cybersecurity platforms, including Prisma^® SASE, Prisma Cloud and Cortex XSIAM^® in its technology stack. These platforms will enable SLB to achieve comprehensive security across its network, cloud and edge platforms, enabling thousands of domain and AI users on SLB’s Delfi™ digital platform to collaborate in a safe and secure environment. The two companies also will develop and implement solutions for edge products and services, which will be critical as more energy customers move toward automated and autonomous operations.

“Through platformization, organizations can simplify their management processes, reduce their total cost of ownership (TCO), and enhance their security outcomes,” said Nikesh Arora, chairman and chief executive officer, Palo Alto Networks. “Palo Alto Networks commends SLB for their forward-looking approach in shaping the future of the energy industry through secure and innovative solutions. Their vision for modern IT transformation through platformization aligns with our own commitment to safeguarding critical infrastructure and driving technological advancement. Together, we can build a resilient and secure energy ecosystem that meets the challenges of tomorrow."

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About Palo Alto Networks

Palo Alto Networks is the global cybersecurity leader, committed to making each day safer than the one before with industry-leading, AI-powered solutions in network security, cloud security and security operations. Powered by Precision AI, our technologies deliver precise threat detection and swift response, minimizing false positives and enhancing security effectiveness. Our platformization approach integrates diverse security solutions into a unified, scalable platform, streamlining management and providing operational efficiencies with comprehensive protection. From defending network perimeters to safeguarding cloud environments and ensuring rapid incident response, Palo Alto Networks empowers businesses to achieve Zero Trust security and confidently embrace digital transformation in an ever-evolving threat landscape. This unwavering commitment to security and innovation makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2021-2024), with a score of 100 on the Disability Equality Index (2024, 2023, 2022), and HRC Best Places for LGBTQ+ Equality (2022). For more information, visit www.paloaltonetworks.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240818628645/en/

Media

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com

Nicole Hockin – VP, Global Communications

Palo Alto Networks

nhockin@paloaltonetworks.com

Investors

James R. McDonald – SVP of Investor Relations & Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

Ryan Fenwick – Sr. Manager, Investor Relations

Palo Alto Networks

ir@paloaltonetworks.com

Source: SLB

FAQ

What is the purpose of SLB's collaboration with Palo Alto Networks?

The collaboration aims to strengthen cybersecurity for the energy sector by combining SLB's industry expertise and technologies with Palo Alto Networks' cybersecurity solutions to address evolving cyber threats in the industry's digital transformation.

Which Palo Alto Networks platforms will SLB integrate into its technology stack?

SLB will integrate Palo Alto Networks' Precision AI-powered cybersecurity platforms, including Prisma SASE, Prisma Cloud, and Cortex XSIAM, into its technology stack.

How will this collaboration benefit SLB's Delfi digital platform users?

The collaboration will enable thousands of domain and AI users on SLB's Delfi digital platform to collaborate in a safe and secure environment by enhancing comprehensive security across SLB's network, cloud, and edge platforms.

What specific areas will SLB and Palo Alto Networks focus on in their expanded collaboration?

The companies will focus on developing and implementing solutions for edge products and services, which are critical as more energy customers move toward automated and autonomous operations.