Palo Alto Networks to Acquire Cloud Security Company Twistlock
Twistlock develops cybersecurity software for serverless, cloud, and container-based applications
NYSE-listed cybersecurity company Palo Alto Networks Inc. has agreed to acquire Portland-headquartered cloud security company Twistlock Ltd. for several hundreds of millions of dollars, according to one person familiar with the matter who spoke to Calcalist on condition of anonymity.
Founded in 2015 by Israeli entrepreneurs and former Microsoft engineers Dima Stopel and Ben Bernstein, Twistlock develops cybersecurity software for serverless, cloud, and container-based applications. Twistlock maintains a research and development operation in Herzliya, a town in the Tel Aviv area.
Twistlock has raised $63 million to date, from investors including San Francisco-based venture capital firm ICONIQ Capital LLC, Dell EMC, YL Ventures, Ten Eleven Ventures LLC, Rally Ventures Management LLC, and Polaris Venture.
Santa Clara-headquartered Palo Alto Networks was co-founded by Nir Zuk, one of the first employees of current rival Check Point Software Technologies Ltd.
Palo Alto reported revenues of $711.2 for the second quarter of fiscal 2019 (ending January 31, 2019), a 30.35% year-over-year increase, and is currently being traded at a market capitalization of $20.47 billion.