The company had raised $23.5 million, according to Crunchbase data. The three co-founders, Xu Zou, May Wang and Jianlin Zeng, will be joining Palo Alto after the sale is official.
With Zingbox, the company gets IoT security chops, something that is increasingly important as companies deploy internet-connected smart devices and sensors. While these tools can greatly benefit customers, they also often carry a huge security risk.
Zingbox, which was founded in 2014, gives Palo Alto a modern cloud-based solution built on a subscription model along with engineering talent to help build out the solution further.