Palo Alto Networks Eyes Two Startup Acquisitions Totaling Up To $1B: Reports
– Kyle Alspach
Palo Alto Networks is reportedly looking to acquire two startups in a deal worth up to $1 billion.
The potential acquisitions would help the cybersecurity giant bolster its cloud security capabilities and expand its presence in mobile and network security.
The two companies Palo Alto is reportedly considering are Apigo, a cloud security specialist that provides secure application programming interface (API) management, and Zingbox, which offers an Internet of Things (IoT) security solution.
While specifics of the deal have not been announced, industry watchers say the $1 billion price tag would make it one of the largest acquisitions in the cybersecurity industry this year.
Palo Alto has been aggressive in making acquisitions as it looks to expand its portfolio of products and extend its dominance in the security market.
In August, the company bought RedLock, an security analytics vendor, for $173 million.
It had also acquired Twistlock, an application security vendor, in 2018 for an undisclosed sum.
The acquisitions of Apigo and Zingbox would help Palo Alto compete with its rivals in the cloud security space, as well as expand its own portfolio to cover mobile and IoT security.
Both of these areas are growing in importance as modern organizations move more of their business operations to the cloud and adopt a range of new connected devices.
Link: https://www.crn.com/news/security/palo-alto-networks-eyes-two-startup-acquisitions-totaling-up-to-1b-reports