Palo Alto Networks to Acquire Cloud Security Company Twistlock

NYSE-listed cybersecurity company Palo Alto Networks Inc. has agreed to acquire Portland-headquartered cloud security company Twistlock Ltd. for several hundreds of millions of dollars, according to one person familiar with the matter who spoke to Calcalist on condition of anonymity.

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Founded in 2015 by Israeli entrepreneurs and former Microsoft engineers Dima Stopel and Ben Bernstein, Twistlock develops cybersecurity software for serverless, cloud, and container-based applications. Twistlock maintains a research and development operation in Herzliya, a town in the Tel Aviv area. 

Twistlock's co-founders Dima Stopel (left) and Ben Bernstein. Photo: Michael J. Tucker

Twistlock has raised $63 million to date, from investors including San Francisco-based venture capital firm ICONIQ Capital LLC, Dell EMC, YL Ventures, Ten Eleven Ventures LLC, Rally Ventures Management LLC, and Polaris Venture.

Santa Clara-headquartered Palo Alto Networks was co-founded by Nir Zuk, one of the first employees of current rival Check Point Software Technologies Ltd.

Palo Alto reported revenues of $711.2 for the second quarter of fiscal 2019 (ending January 31, 2019), a 30.35% year-over-year increase, and is currently being traded at a market capitalization of $20.47 billion.