This is Palo Alto’s second major cybersecurity acquisition in Israel in the past week. On Tuesday, the Santa Clara, Calif.-based company announcement it is acquiring cloud data security company Dig Security for about $400 million.
Talon, co-founded in 2019 by Ofer Ben-Noon and Ohad Bobrov, had raised approximately $143 million from investors including Team8, Ouverture Capital, Evolution Equity, Lightspeed Venture Partners and Cyverse Capital. According to sources, Talon was approached by Palo Alto and is not seeking a buyout.
The acquisitions come as Israel’s tech industry has been heavily impacted by the ongoing conflict between Israel and Gaza militants that began last month. With technology accounting for 18% of from Israel According to GDP, many tech workers have been called into the military reserve or volunteered, shutting down much of the nation’s tech work.
Palo Alto investors say cybersecurity remains a growth area despite the Israeli conflict.
“The need for cybersecurity has not diminished given what is happening; in fact, it’s the opposite. With the advancement of new systems and geopolitical changes, the need for cybersecurity is growing even more,” said Lior Simon, general partner of Cyberstarts, an Israel-based cyber investor.
Talon has developed an “enterprise browser” platform to secure remote work by controlling access to applications and websites. The platform provides visibility into all work-related online activity across employees’ personal and work devices.
“The average business uses hundreds of SaaS and web applications, which means most work is now done primarily through the browser,” said Lee Klarich, director of product at Palo Alto Networks. “Talon enables organizations to secure all work activities through an enterprise browser, without impacting personal device use or affecting user privacy. »
The Talon platform will integrate with Palo Alto’s Prisma SASE cloud security service.
The Talon platform will integrate with Palo Alto’s Prisma SASE cloud security service. SASE (Secure Access Service Edge) provides cloud-based network security for remote users.
Anand Oswal, senior vice president and general manager of Palo Alto’s Firewall as a Platform business, said the combination of Prisma SASE and Talon “will transform the way organizations address the challenges of modern, connected digital environments.” Today “.
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