Palo Alto Networks has entered into definitive agreements to acquire container security provider Twistlock and serverless security company PureSec.
The acquisitions are part of Palo Alto Networks’ cloud security strategy, with the two companies’ offerings to be integrated into Palo Alto Networks’ Prisma security suite.
“Our vision for a cloud-native security platform is a natural fit with Palo Alto Networks cloud strategy. We have liked-minded teams, and we’re looking forward to accelerating our ability to serve customers and partners on their cloud-native journey together,” said Ben Bernstein, Twistlock’s co-founder and CEO, who’ll be joining Palo Alto Networks along with fellow co-founder Dima Stopel as part of the acquisition.
“PureSec’s vision has always been to ensure that all serverless applications will be secured at the very highest level,” said Shaked Zin, co-founder and CEO of PureSec. “By joining forces with Palo Alto Networks, we will undoubtedly be able to make that a reality much faster. We are humbled and excited about this opportunity.”
Twistlock, which had brought in $63.1 million in funding since Bernstein and Stopel founded it in 2015, is getting the lion’s share of the acquisition price, with the price currently set at approximately $410 million.
The acquisition price for PureSec, which had raised $10 million in seed and Series A funding since being founded in 2016, wasn’t initially disclosed, but Palo Alto Networks’ most recent quarterly report puts it at $47 million.
Both acquisitions are expected to close during Palo Alto Networks’ Q4 this year.
“Today marks another exciting step forward in our commitment to offering our customers the industry’s most complete cloud security offering,” said Nikesh Arora, Palo Alto Networks’ chairman and CEO. “We believe that our acquisition of these leading companies will significantly enhance our ability to be the cybersecurity partner of choice for our customers, while expanding our capabilities and strengthening our Prisma cloud security strategy.”
The announcement is part of a string of hiring and M&A decisions where cloud expertise seems to have been a major factor, and comes just a few months after Palo Alto Networks spent $560 million on security automation provider Demisto. Both cloud and automation/AI are being hailed as potential ways to simplify cybersecurity – and given the increasing pressure to provide assurances of ‘adequate’ security, the growing concerns about burnout in infosec roles, and the much-discussed cybersecurity skills gap, anything that can make the CISO’s life easier is sure to meet with a warm welcome.