Panda Security Buys German Franchise

Glendale-based Panda Security, a developer of IT security software, said earlier this week that it has acquired its franchise in Germany. Financial terms of the buy were not disclosed. According to Panda, the move is part of a plan to reach into strategic markets and consolidate its position in Europe. According to Panda, the German franchise includes offices in Dusseldorf, Munich, and Hamburg. Panda also has subsidiaries in Spain, France, Germany, Japan, Holland, Belgium, and the United States, and franchisees covering 50 countries. Panda Security is a developer if antivirus and other related software.