Cybersecurity firm Palo Alto Networks intends to acquire Talon Cyber Security, the company confirmed Monday, in what would be its second purchase of an Israeli startup in the last week.
Talon specializes in enterprise browser technology, which allows organizations to operate applications and services on a single platform. According to an announcement of the deal from Palo Alto Networks, the acquisition is an attempt to shore up security for unmanaged devices — for example, personal devices employees use to access work-related material.
“Talon enables organizations to secure all work activity via an Enterprise Browser, without touching the personal usage of the device or impacting user privacy,” Lee Klarich, chief product officer for Palo Alto Networks, said in a statement. “Today's announcement underscores our continued belief in the strength of the Israeli cybersecurity ecosystem and our commitment to our growing team in Israel."
Last week, the company purchased Dig Security, a cloud safety firm that helps organizations protect sensitive data. Unnamed sources familiar with the negotiations told TechCrunch that Palo Alto Networks will pay $400 million for Dig and another $625 million for Talon.
The deals further bolster Israel’s robust cybersecurity industry, which has been under the spotlight amid the ongoing war with Hamas and a spike in cyberattacks against Israel in the last month.
The Tel Aviv-based Talon was founded in 2021 by Ofer Ben-Noon and Ohad Bobrov and had secured $143 million in funding. Palo Alto Networks is the largest stand-alone cybersecurity company in the world, with a nearly $73 billion market cap and $6.9 billion in revenues in fiscal year 2023.
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James Reddick has worked as a journalist around the world, including in Lebanon and in Cambodia, where he was Deputy Managing Editor of The Phnom Penh Post. He is also a radio and podcast producer for outlets like Snap Judgment.