This post is by Ingrid Lunden from Fundings & Exits – TechCrunch
The pandemic and the world’s big shift to doing (even) more online has put an unprecedented amount of pressure on cybersecurity. Now, it looks like one of the big public players in that space, Palo Alto Networks, has made an acquisition that will help it address that challenge, specifically with security tools designed for those working in DevOps to handle vast volumes of security data more efficiently.
According to our sources and reports, the company is acquiring Bridgecrew, a startup out of Israel that automates the process of network monitoring and security remediation by translating the feedback into code. Its tools are used by fast-scaling, internet-based businesses like Robinhood, BetterHelp and OneMain Financial.
The acquisition was first rumored earlier this month in Israeli press as a deal worth more than $100 million. Two sources confirmed the talks to us at the time but said the deal had not yet been closed. Then, a report this morning in Israel’s Calcalist said the acquisition is now valued at around $200 million, possibly more if you count earn-outs.
Sources close to the startup’s investors confirm to us that the papers have indeed now been signed on the deal, so expect an official announcement soon.
Spokespeople for both companies previously declined to comment on any deal when we asked earlier this month. We are reaching out to both again.
A $200 million price tag would represent a strong return for Bridgecrew and its investors.
The startup, backed by the likes of (Read more...)