Panda Security Opens New Cloud Business Unit in Silicon Valley

New division led by security software industry veterans from Panda and Symantec to focus on aggressive market development and expansion of company’s cloud-based solutions

Panda Security has announced the formation of a new Cloud Business Unit that will focus on further accelerating worldwide growth around its cloud-based security services for consumers, small and medium sized businesses (SMBs) and resellers. The new unit will build on a strong momentum with Panda Cloud Antivirus, the world’s fastest growing consumer cloud security service. The group will also focus on market development and expansion for Panda Cloud Protection, featuring Panda Cloud Office Protection, Panda Cloud Email Protection and Panda Cloud Internet Protection for SMBs.

Headquartered in California the Cloud Business Unit will focus initially on the US market, and will collaborate closely with Panda Security USA, based in Orlando, Fl., to support the company’s continued expansion within the United States.

The Panda Cloud Protection product line has also grown well above the industry average growth rate for cloud-based security services. Income from these products grew 65% over the previous year and now represents 15% of the company’s total worldwide revenues. Panda expects this number to exceed 20% by the end of 2011. This compares to industry-wide revenue growth for SaaS, which made up only 10% of total security services revenue in 2009.

“Small and medium businesses are looking for security solutions that will protect them from the more than 55,000 new threats created daily, without slowing down their systems or requiring much maintenance,” says Juan Santana, CEO, Panda Security.  “Panda Security’s cloud solutions were designed to address both the needs of SMBs as well as our channel partners who serve them. The world class team we’ve built in Silicon Valley combined with our aggressive go-to-market, positions Panda very well to capitalize on the growth opportunity within the cloud”, he concludes.

Rick Carlson, president of Panda Security USA is confident of Panda’s success. “Panda Security is well positioned in the United States to take a big piece of the SaaS market with its best-in-class cloud products, support, and channel partner program”, he states. “The Orlando headquarters will benefit greatly by having a team on the ground in Silicon Valley to elevate the Panda brand even further and build on the strong foundation we already have established with SMBs and their managed service providers.”

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