Palo Alto Networks Inc. agreed to buy Talon Cyber Security Ltd., marking the second acquisition of an Israeli peer within a week.
The deal is valued at about $625 million, according to a person familiar with the plans who asked not to be identified discussing information that’s not public.
The US company, which last week announced the takeover of Israeli startup Dig Security, will integrate three-year-old Talon’s browser technology into its network. Co-founders Ofer Ben-Noon and Ohad Bobrov will continue to lead their teams, according to a statement Monday.
Palo Alto Networks is pursuing an aggressive deal strategy to boost its data security capabilities and its SASE or Secure Access Service Edge offerings.
Integrating Talon would “enable Palo Alto Networks to securely connect all users and devices to all applications, including private applications, and apply consistent security no matter who the user is and what device they use for work,” Chief Product Officer Lee Klarich said in a statement Monday.
In August, the company projected stronger billings for the year than Wall Street anticipated, easing fears that a slowdown in demand may weigh on results. That outlook was regarded as a potential bright spot for the cybersecurity industry. Companies such as Fortinet Inc. and Check Point Software Technologies Ltd. had reported earnings that pointed to a pullback across the space, hurt by a broader reining in of tech spending and an uncertain economic outlook.
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