Palo Alto buying Herzliya-based Twistlock

Twistlock founders Ben Bernstein and Dima Stopel Photo: PR

The acquisition price is estimated at $450-500 million. Palo Alto is expected to announce a further acquisition today as well.

Cybersecurity company Palo Alto Networks (NYSE: PANW) is making another acquisition in Israel. The company is buying Herzliya-based Twistlock, which develops security solutions for virtual containers, for $450-500 million, sources inform “Globes”.

Palo Alto will probably announce the acquisition today. Since it was founded, Twistlock has raised $63 million. “Globes” has also learned that Palo Alto is about acquire another Israeli startup, for an estimated $50-100 million. The company’s announcement today may include both acquisitions.

Twistlock was founded by Ben Bernstein and Dima Stopel in 2015. Both worked for ten years at Microsoft before founding their company. The main investors and shareholders in Twistlock are private Silicon Valley-based investment office Iconiq Capital;, YL Ventures, a US-Israeli venture capital firm specializing in cybersecurity; US venture capital firms Rally Ventures, TenEleven, and Polaris; and Dell Technologies Capital.

Published by Globes, Israel business news - en.globes.co.il - on May 29, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Twistlock founders Ben Bernstein and Dima Stopel Photo: PR
Twistlock founders Ben Bernstein and Dima Stopel Photo: PR
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