US cybersecurity company Palo Alto Networks (Nasdaq: PANW), founded by Israeli Nir Zuk, today announced that it has entered into a definitive agreement to acquire Israeli enterprise browser company Talon Cyber Security. No financial details were disclosed but sources believe that the deal is valued at $625 million, in cash and with a share component.
Founded in 2021 by CEO Ofer Ben-Noon and Ohad Bobrov, Talon's Enterprise Browser provides an innovative, cutting-edge solution that, when combined with Prisma SASE enables users to securely access business applications from any device, including mobile and other non-corporate devices, while delivering seamless user experiences. Talon has 130 employees, who are all expected to join Palo Alto Networks development center in Israel. The company raised $100 million in August 2022 at a valuation estimated at below $1 billion.
Ben-Noon said, "The proliferation of distributed work models has created a dynamic threat landscape that legacy solutions are ill-equipped to handle. We built Talon to bring powerful last-mile security to organizations, addressing the significant customer needs for secure access across all devices while catering to emerging customer and user preferences for browser-based productivity. Talon's Enterprise Browser is purpose-built to deliver seamless, familiar user experiences on top of enterprise-grade protection that goes hand-in-hand with the great security that Prisma SASE offers today."
Palo Alto Networks CPO Lee Klarich added, "The average enterprise uses hundreds of SaaS and web applications1, meaning that most work is now done primarily via the browser. Talon enables organizations to secure all work activity via an Enterprise Browser, without touching the personal usage of the device or impacting user privacy. Integrating Talon with Prisma SASE will enable Palo Alto Networks to securely connect all users and devices to all applications, including private applications, and apply consistent security no matter who the user is and what device they use for work. Today's announcement underscores our continued belief in the strength of the Israeli cybersecurity ecosystem and our commitment to our growing team in Israel."
This is Palo Alto networks second Israeli acquisition this month. Last week Palo Alto announced that it is acquiring cloud security startup Dig Security. The company will reportedly pay $300-400 million for Dig Security, which provides Data Security Posture Management (DSPM).
Published by Globes, Israel business news - en.globes.co.il - on November 6, 2023.
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