The companies say they will ‘facilitate the migration’ of QRadar SaaS customers to Palo Alto Networks’ Cortex XSIAM platform once the deal closes.

Palo Alto Networks said Wednesday that it has reached a deal to acquire IBM’s QRadar software-as-a-service assets, as part of the cybersecurity giant’s drive to bring more customers onto its Cortex XSIAM platform.

Terms of the deal weren’t disclosed. It’s expected to close by the end of September.

[Related: Palo Alto Networks To ‘Change How Cybersecurity Is Done’ With AI Launch: CPO Lee Klarich]

XSIAM (extended security intelligence and automation management) is Palo Alto Networks’ AI-powered platform for security operations teams, which competes with SIEM (security information and event management) products and debuted in late 2022. IBM, meanwhile, launched its new QRadar Suite for security analysts a year ago.

The companies said Wednesday they will “facilitate the migration” of QRadar SaaS customers to Palo Alto Networks’ fast-growing XSIAM platform once the acquisition closes.

The deal was the second security operations consolidation deal announced just on Wednesday, following the disclosure earlier in the day that SIEM vendors LogRhythm and Exabeam plan to merge.

The planned acquisition also follows Cisco’s $28 billion acquisition of SIEM stalwart Splunk and growing competition in the market from vendors including Microsoft and CrowdStrike.

In a news release, Palo Alto Networks said the planned acquisition of IBM’s QRadar SaaS assets will include rights to QRadar intellectual property.

“Upon closing, Palo Alto Networks and IBM will facilitate the migration of QRadar SaaS clients to Cortex XSIAM,” the companies said in the release.

On-premises QRadar customers “who wish to remain on QRadar on-prem will continue to receive IBM features and support including security, usability and critical bug fixes, as well as updates to existing connectors and the ability to expand consumption,” IBM said in the release. “For both QRadar SaaS and on-prem clients who chose to migrate to Cortex XSIAM, the companies, along with their ecosystem of business partners, will closely collaborate to enable a smooth transfer, with IBM and Palo Alto Networks offering no-cost migration services to qualified customers.”

Additionally, as part of the deal, Palo Alto Networks will make “incremental payments” to IBM “for QRadar on-prem clients who choose to migrate to the Cortex XSIAM platform.”

The QRadar acquisition deal was disclosed among a number of announcements made Wednesday by Palo Alto Networks and IBM, related to their expanded partnership.

Other moves announced by the companies Wednesday included that Palo Alto Networks will integrate IBM’s watsonx Large Language Model technology into XSIAM, while IBM will train “more than 1,000” security consultants around activities related to Palo Alto Networks offerings, such as adoption, migration and deployment of the vendor’s products.

Additional components of the expanded partnership include the planned opening of a joint Security Operations Center by the companies. And IBM now aims to “drive a significant security book of business with Palo Alto Networks” as well, the company said in the release.