Panda Security is a Spanish cybersecurity software company that specializes in creating products for IT security. Panda Security started with antivirus software, and the company now also provides and develops cybersecurity software. This includes security products and services for both businesses and home users, as well as protection tools for systems, networks, emails, and other private information. Panda Security employs around 450 people. Overview In 2005, Panda Security was the fourth largest antivirus vendor worldwide, with 3.2% of the marketplace. In November 2015 OPSWAT measured Panda Security's market share to be 3.6%. The company, whose shares were previously 100% held by Mikel Urizarbarrena, announced on 24 April 2007, the sale of 75% of its shares to Southern European investment group Investindustrial and private equity firm Gala Capital. On 30 July 2007 the company changed its name from Panda Software to Panda Security and Urizarbarrena was replaced by Jorge Dinares. Almost one year later, on 3 June 2008, amidst flagging sales, the board of directors voted to replace Dinares with Juan Santana, the CEO. Santana resigned in September 2011 and was replaced by José Sancho as acting CEO. Panda Security is rated in Jan 2018 by Gartner analysts as an Endpoint Protection Visionary. Technological milestones include its launch of security systems, such as the SaaS concept (Security as a Service) or antivirus solutions that provide protection from the cloud (cloud computing) and are based on what Panda calls Collective Intelligence, a security model Panda introduced on the market in 2007. According to its CEO, the main benefit this security model provides is that it allows automatic scanning of threats instead of the manual scans carried out by other companies. The firm has subsidiaries in the US, Italy, Switzerland, Germany, Austria, Belgium, the Netherlands, France, UK, Sweden, Finland, Spain, and Japan. Additionally, it has franchises in another 44 countries. The US subsidiary moved its headquarters to Orlando, Florida in 2009. In late 2009, Panda Security created a partnership with Web of Trust to help fight against the war of viruses. Panda was previously embroiled in a lawsuit with one of its channel partners, External Technologies, Inc. In 2013, Panda prevailed in its lawsuit against External Technologies, recovering a judgment in excess of $100,000 and prevailing on all claims asserted by External against Panda. On 3 August 2010, a new office location in Menlo Park, California was publicly announced by Panda's CEO via