Another acquisition of US-based Palo Alto Networks in Israel: Acquires Twistlock, which develops security solutions for virtual containers. The price of the deal has not yet been disclosed, but it is estimated at $450-500 million. This is the sixth acquisition of Palo Alto in Israel.
Founded in 2015 by CEO Ben Bernstein and research and development director Dima Stopel, who previously worked together at the Microsoft development center in Israel in the area of information security. The company currently has 100 employees and its development center is located in Israel.
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Twistlock has raised $63 million since to date from Silicon Valley’s private investment firm ICONIQ Capital, the Israeli-American venture capital fund specializing in Cyber YL Ventures, US venture capital funds TenEleven Rally Ventures, Polaris Partners, and Dell Technologies Capital.
According to Bernstein, Twistlock makes $10 million a year and serves 200 companies, including over a quarter of Fortune 100 companies such as InVision, Aetna, AppsFlyer, McKesson, Wix, Walgreens, AWS and USAA.
A virtual container-based work environment is considered a hot field in the cloud software development world. The technology enables the installation of applications or parts of them effectively, whether isolated from the operating system or on the same server.
Virtual containers are a feature of operating systems that allows any application to operate in isolation – as if it were the only one operating. Thus, hundreds of applications can run parallel without interrupting each other, even in the transition between different servers. The greater the use of technology, the greater the need to provide information security solutions dedicated to the field. Twistlock is one of two Israeli companies that provide such a solution, alongside Aqua Security.
Palo Alto, Check Point’s largest competitor, was founded in 2006 by Israeli businessman Nir Zuk which is traded at a company value of $20.5 billion. The company completed a large round of financing last year when it issued convertible bonds worth $1.5 billion, and stated in its prospectus that it would use the funds for general business purposes as well as strategic transactions.
has made several acquisitions: in February 2018, the company acquired Israeli startup Damisto for $ 560 million in cash and shares. Demisto develops automated tools for managing enterprise security.
In addition, Palo Alto has acquired Cyvera in 2014; Lightcyber in 2017; Evident for $300 million, and RedLock for $173 million in 2018, both of which were designed to strengthen it in cloud services security. In April 2019, it acquired Secdo for $100 million, which is able to continuously monitor information from all computers in the organization.
Palo Alto is also about to buy another Israeli start-up, which is estimated at $50-100 million, and today’s announcement could include the deal.
