Palo Alto Networks Confirms PureSec Acquisition

Palo Alto Networks is on a cloud security shopping spree as it builds out its new Prisma cloud security strategy. This week the company confirmed acquisitions of PureSec and Twistlock.

PureSec, an Israeli startup founded in 2016, was created under the premise that serverless architecture demands a new approach to application security. Its serverless security tool aims to help its customers build, maintain, and secure serverless applications. PureSec co-founders Shaked Zin, Ory Segal, and Avi Shulman will join Palo Alto Networks as part of the acquisition.

The transaction value for the acquisition was not officially disclosed; however, Israeli business publication Globes reports the price tag is $60 million to $70 million. Meantime, Palo Alto Networks confirmed it will pay $410 million for container security firm Twistlock in an all-cash transaction.

Portland, Ore.-based Twistlock was founded in 2015 and most recently completed its Series C, bringing it to a total of $63 million in funding. It offers a container security platform and has 290 customers, 25% of which are in the Fortune 100. Palo Alto Networks reports Twistlock's co-founders, Ben Bernstein and Dima Stopel, will also be joining the company following the close of the deal.

Technologies from PureSec and Twistlock are intended to bolster Palo Alto Networks' cloud security suite, Prisma, also announced this week. The platform is designed to help businesses connect offices and employees to the cloud, and develop and deploy SaaS applications, with a combination of newly acquired tools and rebranded products from Palo Alto Networks.

Both transactions are expected to close during Palo Alto Networks' fiscal fourth quarter.

Read more details here.