Cybersecurity vendor Palo Alto Networks has announced its second acquisition in a week by purchasing enterprise browser security start-up Talon Cyber Security for a reported $625m.
The deal was confirmed earlier today and will see the team from Israeli company Talon integrated into Palo Alto’s Prisma secure access service edge (SASE) cloud security team. No figure has been disclosed for the value of the acquisition, but Bloomberg reports that it is worth $625m, citing a source with knowledge of the transaction.
How Palo Alto Networks will integrate Talon
Palo Alto says the purchase will help it address the issue of maintaining security standards amid the rise of bring your own device (BYOD), where workers use third-party laptops and other devices to access cloud-based tools and platforms for their work. This has become increasingly popular since the Covid-19 pandemic, but such devices can be difficult for security teams to police.
Talon’s Enterprise Browser platform allows users to “securely access business applications from any device, including mobile and other non-corporate devices”, a Palo Alto Networks statement said. The company hopes this will bring a new dimension to its SASE offering, Prisma, which combines network security and security as a service.
Anand Oswal, SVP and general manager at Palo Alto Networks, said: “While BYOD offers an advantage for productivity, it is also a source of significant security risk. Talon’s Enterprise Browser empowers security teams with deep visibility and control over all work-related SaaS and web activity on all devices, including personal and unmanaged endpoints.
“SASE solutions must evolve to secure unmanaged devices with the same consistent security applied to managed devices so that users can securely access business applications using any device from any location.”
Tel Aviv-based Talon was founded by Ofer Ben-Noon and Ohad Bobrov, and has raised about $143m, including a $100m series-A funding round last year. The company’s website lists customers including enterprise data platform Snowflake and US restaurant chain Landry’s.
Ben-Noon said that he believes the “proliferation of distributed work models has created a dynamic threat landscape that legacy solutions are ill-equipped to handle”.
He added: “Not only is Palo Alto Networks the ideal partner for us to accelerate our journey, but their commitment to innovation in Israel is inspiring and an excellent match for Talon’s mission of creating the best outcomes possible for customers and our employees.”
Palo Alto Networks adds to Dig Security purchase
News of the acquisition comes a week after Palo Alto Networks announced it was buying another Israeli company, Dig Security, which specialises in keeping data in the cloud safe. Again, the purchase price was not disclosed but has been reported to be around $400m.
Speaking about the Dig purchase, Lee Klarich, chief product officer for Palo Alto Networks, said: “As companies build AI-enabled applications, there will be a substantial increase in the amount of data transferred to the cloud. Dig’s highly innovative technology helps safely enable this shift, and its dedicated team will complement and help advance Palo Alto Networks’ strengths across cloud security.
“The announcement of our intent to join forces with Dig reinforces our longstanding commitment to our team in Israel and to continue growing our footprint with its talented and dedicated cybersecurity professionals.”
The company has also been investing in its existing teams around the world, and in October opened a new UK headquarters at London’s Bishopsgate, and stating that it plans to create 485 cybersecurity jobs there over the next five years.