Palo Alto Networks in advanced negotiations to acquire Dig Security in $300-$400 million deal
Palo Alto Networks in advanced negotiations to acquire Dig Security in $300-$400 million deal
Palo Alto is closing on two acquisitions of Israeli startups, with negotiations currently also ongoing to purchase Talon Cyber Security for $600-$700 million
Palo Alto Networks is in advanced negotiations to purchase Israeli startup Dig Security in a deal valued at $300-$400 million, Calcalist has learned. This potential deal comes on the back of advanced negotiations also currently taking place between the U.S. cyber giant and another Israeli cyber startup, Talon Cyber Security. Calcalist revealed last week that Palo Alto was closing on a $600-$700 million acquisition of Talon.
Dig Security, which develops cloud data security solutions, secured a $34 million Series A investment in September 2022. The round was led by San-Francisco-based venture capital firm, SignalFire, with participation from Felicis Ventures, Okta Ventures and Team8. Dig’s Series A brought its total funding to $45 million less than a year after its Seed round in October 2021. Its Seed round included CrowdStrike, through its Falcon Fund, and CyberArk, alongside Merlin Ventures.
Dig Security and Palo Alto refused to comment on the story.
Dig was founded in 2021 by Dan Benjamin, Ido Azran and Gad Akuka, three veteran entrepreneurs who’ve previously founded successful companies that were acquired by major firms. They also gained experience at tech giants including Google and Microsoft.
Dig uses a comprehensive threat model for cloud data attacks that detects, analyzes and instantly responds to cloud data threats to minimize business impact and damage with an average mean-time-to-detection (MTTD) of less than a minute.
