Palo Alto Networks mulls buying AI security co for $700m

Sources inform “Globes” that on Palo Alto’s radar is Protect AI.

Palo Alto Networks (Nasdaq: PANW) is set to buy AI cybersecurity company Protect AI for an estimated $650-700 million, sources inform “Globes.” According to PitchBook, Protect AI raised money last July at a company valuation of $460 million.

Although Israel has many cybersecurity companies in this field, including Prompt, Lasso, Apex and AIM, Palo Alto Networks, founded by CTO Nir Zuk, is choosing to make this substantial acquisition in the US – with at least two prominent companies in the field reportedly on its radar. One is Protect AI, a US cybersecurity company founded by local entrepreneurs, but with several Israelis involved – including Shlomo Kramer, a serial cybersecurity investor as an angel investor, and Israeli BigID CEO Dmitri Sirota as a former advisor and seed investor in the company’s first financing round in 2022. Protect AI’s investors include several prominent funds with Israeli partners in senior positions – Evolution Partners, who partners include Yuval Ben-Itzhak and Advisors 01, who partners include David Fischer, the son of former Bank of Israel Governor Stanley Fischer.

Published by Globes, Israel business news – en.globes.co.il – on April 9, 2025.