Zscaler (ZS) Announces Dismissal of Lawsuits

Zscaler, Inc., (Nasdaq: ZS) the leader in cloud security, today announced the dismissal with prejudice of all patent lawsuits filed by Symantec against Zscaler. The dismissal resulted from the execution of a full and complete settlement agreement between Zscaler and Broadcom, Inc. following Broadcom’s acquisition of the patents underlying the Symantec lawsuits as a part of its purchase of the Symantec enterprise security business. In connection with the settlement, Zscaler will make a payment of $15 million to Broadcom, and Broadcom provides Zscaler with a patent license, release, and covenant not to sue. The other terms of the settlement are confidential.

"We are pleased that we were able to reach an amicable agreement with Broadcom to resolve the lawsuits," said Jay Chaudhry, Chairman and CEO. "While we were confident of our position in the case, we believe this outcome is in the best long-term interest of our stockholders and customers as it allows Zscaler to further focus on delivering our innovative cloud-based security services—empowering enterprises to securely transform to the cloud."

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