Palo Alto Networks announces the acquisition of Israeli startup Talon Cyber Security
Palo Alto Networks announces the acquisition of Israeli startup Talon Cyber Security
As exclusively revealed on Sunday in Calcalist, the deal is estimated to be around $625 million. “The announcement underscores our continued belief in the strength of the Israeli cybersecurity ecosystem”, stated Palo Alto executive
Global cybersecurity company Palo Alto Networks today announced that it has entered into a definitive agreement to acquire Israeli startup Talon Cyber Security, the developer of a corporate browser. The valuation of the deal was not reported in the official announcement of the companies; however, as it was already published exclusively on Sunday in Calcalist, it is estimated to be around $625 million.
As part of the deal, the company's 130 employees are expected to receive an estimated $70-80 million, resulting in a substantial number of employees receiving compensation exceeding $1 million each. In their latest fundraising round, the company was valued at $350 million, which ensures a significant return for all company investors.
Ofern Ben Noon speaking to Calcalist at Mind The Tech NY in 2022.
(Photo: Calcalist)
“Today's announcement underscores our continued belief in the strength of the Israeli cybersecurity ecosystem and our commitment to our growing team in Israel”, said Lee Klarich, Chief Product Officer for Palo Alto Networks.
Ofer Ben-Noon, Co-Founder and CEO at Talon said: “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."
Talon Cyber Security was founded in 2021 and currently employs 130 people, with 85 based in Israel and the rest in the United States. Founded by entrepreneurs Ofer Ben-Noon and Ohad Bobrov, Talon won the RSA Conference's prestigious Innovation Sandbox contest in 2022. The co-founders will continue leading their teams when they join the Prisma SASE team at Palo Alto Networks after closing. Talon's Enterprise Browser provides a solution that, when combined with Prisma SASE, will enable users to securely access business applications from any device, including mobile and other non-corporate devices, while delivering seamless user experiences.
Talon, which has raised a total of $126 million to date, announced a $100 million Series A round in August 2022. Evolution Equity Partners led the round, with participation from Ballistic Ventures, CrowdStrike's Falcon Fund, Merlin Ventures, SYN Ventures, and previous investors including CrowdStrike co-founder and CEO George Kurtz, Lightspeed Venture Partners, Sorenson Ventures, and Team8. Liran Grinberg, Co-Founder and Managing Partner of Team8, has been a part of Talon's board alongside fellow Team8 Co-Founder Nadav Zafrir since the company's inception.
The TalonWork browser simplifies endpoint security by serving as a secure access point to corporate applications and data on any device, managed or unmanaged, and on any operating system. With Talon, security teams benefit from deep visibility into browser and application activity, as well as native security features like authentication, data loss prevention, and Zero Trust controls.
Palo Alto, founded in 2005 by Israeli Nir Zuk, is currently traded on Wall Street with a market cap of $75 billion, making it the world's largest cybersecurity company in terms of market cap. Palo Alto's Israeli R&D center is its second largest outside of its California headquarters. The Israeli center primarily focuses on developing its main products, including Cortex, which automates cyber incident management, and Prisma, designed for cloud security.
