Palo Alto Networks’ Israeli buying spree: 12 startups among 24 major acquisitions since 2014
Koi becomes the latest in a 12-year buying spree centered on Israel’s cyber sector.
When Palo Alto Networks acquired Israeli cybersecurity startup Koi on Tuesday for $400 million, it marked more than another addition to its product portfolio. It was the 12th Israeli company the cybersecurity giant has purchased since 2014, part of a broader tally of 24 significant acquisitions over the past 12 years.
The pattern is unmistakable: as Palo Alto has expanded into cloud security, endpoint protection, DevSecOps, and identity management, Israeli startups have repeatedly featured at the center of its strategy.
Palo Alto’s Israeli dealmaking began in 2014 with the acquisition of Cyvera for $200 million. It returned in 2017 to acquire LightCyber for $105 million, followed by Secdo in 2018 for $100 million.
In 2019, the pace accelerated. The company acquired Twistlock for $410 million, PureSec for roughly $47 million, and Demisto for $560 million.
The buying continued in the following years: Bridgecrew (2021, $156 million); Cider Security (2022, $300 million); Dig Security (2023, $400 million); and Talon Cyber Security (2023, $625 million).
In 2025, Palo Alto completed its largest Israeli acquisition to date: CyberArk, in a $25 billion deal. This week, it added Koi to the list in a $400 million transaction.
Taken together, these 12 Israeli acquisitions account for half of Palo Alto’s 24 significant global deals since 2014.
Israel is not merely a source of acquisitions but a central operational hub for the company. Prior to the CyberArk purchase, Palo Alto employed about 1,600 people in Israel. The CyberArk acquisition added around 1,000 employees to that footprint.
Its Israeli R&D center has expanded rapidly and now occupies 22 floors of Tel Aviv’s Alon Tower.
During a visit to Israel in December, CEO Nikesh Arora addressed questions about whether the company’s commitment to Israel might weaken following founder Nir Zuk’s departure from day-to-day leadership.
“One of the things I’ve learned in life is that you can’t separate the company from its founder,” Arora said. “Our commitment to Israel has not changed despite the fact that Nir is not actively at Palo Alto. Nir still lives in Palo Alto, in the culture, the products, the spirit. He’s still a major shareholder, still available, and still has an office here. He wanted to come back and build something new.”
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Arora emphasized that the company’s investment decisions speak for themselves.
“I’m the one signing the checks, and if that weren’t the case, we wouldn’t have hired 750 people here in recent years. Some of our most successful products are born, designed, developed, and delivered by teams in Israel.”
He acknowledged the complexity of operating in the country but framed it as a strength rather than a liability.
“Israel is not the simplest country to operate, and not the easiest people. But it has some of the most passionate people, who can handle adversity better than most people in the world, and despite the adversity, bring their best to work every day and try to do a great job.
“I have never found the team from Israel not willing to accept feedback and desire to build the best product in the world, that trumps everything.”
