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Palo Alto Networks’ stock price has been increasing due to strong earnings and high demand for cybersecurity services. The company is now taking advantage of this positive momentum to make some strategic acquisitions.
Palo Alto, an American company, is in talks to buy two Israeli security startups for about $1 billion, according to Calcailtech, an Israeli newspaper. This move is aimed at expanding Palo Alto’s array of services, reflecting their commitment to further enhancing their portfolio.
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The focus is on Talon Cyber Security, a company that has created an advanced Cybersecurity for safeguarding distributed workforces. An investment of $600 million to $700 million is being considered. Additionally, Dig Security, a leading expert in protecting data within public clouds, is being evaluated for an investment of $300 million to $400 million. Palo Alto, with a current market capitalization approaching $70 billion, is a publicly traded company.
Both startups are less than three years old, and in both instances, these outcomes would significantly exceed their current valuations.
Talon has managed to secure an impressive $143 million in funding, while Dig, on the other hand, has raised a comparatively modest $45 million. Their investors include Entrée Capital, Evolution Equity, LightSpeed, Signal Fire, Okta, CrowdStrike, Samsung, and Felicis, respectively. They also have common investors, Team8 and Cyverse Capital, who specialize in cybersecurity.
TechCrunch, Calcalistech
