Cybersecurity company Palo Alto Networks (Nasdaq: PANW) has entered into a definitive agreement to acquire AI cybersecurity company Protect AI. “Globes” was the first to report earlier this month that Palo Alto Networks, founded by CTO Nir Zuk, was set to buy the US company for an estimated $650-700 million.
Palo Alto Networks said that this strategic acquisition is a commitment to remaining at the forefront of next-generation cybersecurity innovation, and expanding its capabilities to protect the dynamic new attack surface created by the explosion of AI.
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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, whose partners include Yuval Ben-Itzhak and Advisors 01, whose partners include David Fischer, the son of former Bank of Israel Governor Stanley Fischer.
Palo Alto Networks SVP and GM Anand Oswal said, “As AI-powered applications become core to businesses, they bring risks traditional security tools can’t adequately handle. By extending our AI security capabilities to include Protect AI’s innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security. With the addition of Protect AI’s existing portfolio of solutions and team of experts, Palo Alto Networks will be well-positioned to offer a wide range of solutions for customers’ current needs, and also be able to continue innovating on delivering new solutions that are needed for this dynamic threat landscape.”
Published by Globes, Israel business news – en.globes.co.il – on April 28, 2025.
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