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On Monday, Palo Alto Networks confirmed it is acquiring the US-based AI security company Protect AI. Protect AI has created a platform for organizations to secure AI models, perform AI red teaming, and ensure AI runtime security.
Palo Alto Networks announced that acquiring Protect AI will enhance its ability to secure the new AI attack surface and improve its Prisma AIRS AI security platform.
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Israeli news site Globes reported that sources estimated the deal to be worth $650-700 million. Palo Alto Networks did not disclose any financial details on Monday.
Protect AI, valued at $400 million in August 2024, raised $60 million in Series B funding, making the amount expected.
Ian Swanson, Co-Founder & CEO, Protect AI said, “Joining forces with Palo Alto Networks will enable us to scale our mission of making the AI landscape more secure for users and organizations of all sizes. We are excited for the opportunity to unite with a company that shares our vision and brings the operational scale and cybersecurity prowess to amplify our impact globally.”
Protect AI CEO, founders, and employees are expected to join Palo Alto Networks once the deal closes. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by Palo Alto Networks’ first quarter of fiscal 2026.’
Anand Oswal, SVP and GM, Palo Alto Networks said, “As AI-powered applications become core to businesses, they bring risks traditional security tools can’t adequately handle. By extending our AI security capabilities to include Protect AI’s innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security. With the addition of Protect AI’s existing portfolio of solutions and team of experts, Palo Alto Networks will be well-positioned to offer a wide range of solutions for customers’ current needs, and also be able to continue innovating on delivering new solutions that are needed for this dynamic threat landscape.”
In 2023, Palo Alto Networks acquired the secure enterprise browser Talon for $625 million and the cloud security startup Dig Security for $400 million.
