Cybersecurity company Palo Alto Networks (NASDAQ: PANW) has signed a decisive agreement to acquire AI cybersecurity company Protect AI. “Globes” was the first person to report earlier this month that Palo Alto Networks, founded by CTO Nir Zuk, was planning to purchase the US company for an estimated $650 million.
Palo Alto Networks said this strategic acquisition is a commitment to staying at the forefront of next-generation cybersecurity innovation and expanding its capabilities to protect the dynamic new attack surface created by the AI explosion.
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Palo Alto Networks Buy AI Security Co for $700 Million
The US cybersecurity company founded by local entrepreneurs, protects AI involving several Israeli people, including Shlomo Kramer, a serial cybersecurity investor as an angel investor, and Israeli CEO Dmitri Shirota includes former advisors and seed investors, including fundraisers for First Finale on Acres in 2022. Partners include partners including David Fisher, the son of former Israeli Banking Bank Stanley Fisher, including Yuval Ben-Itzhak and Advisors 01.
Palo Alto Networks SVP and GM Anand Oswal said, “When AI-powered applications are at the heart of an enterprise, they can pose risks that traditional security tools cannot handle properly. By extending the security capabilities of AI and including innovative solutions for AI, businesses can add AI applications. Alto Networks is well positioned to provide a wide range of solutions for the current needs of their customers, and can continue to innovate in delivering the new solutions needed for this dynamic threat situation.”
Published by Globes, Israel Business News – En.globes.co.il – April 28, 2025.
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