Palo Alto Networks pays 500 million dollars for agentic IT startup Console
TechCrunch reports Palo Alto Networks paid 500 million dollars in cash and stock for Console, an agentic IT help-desk startup, citing two people with knowledge of the deal; Console's tools already handle routine work like password resets. The Elec reports Palo Alto Networks announced the deal on September 1 without disclosing terms, folding Console into its Cortex security-operations platform as part of an acquisition run that also brought in Chronosphere, CyberArk, Portkey and Koi this year.
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TechCrunch's sourced price meets The Elec's undisclosed terms
TechCrunch reports two people with knowledge of the deal put the price at 500 million dollars in cash and stock for Console, a two-year-old agentic IT startup whose tools handle routine work such as password resets and granting access to applications like Figma and Miro. The Elec reports Palo Alto Networks announced the acquisition on September 1 without disclosing financial terms, and that the company plans to integrate Console's technology into Cortex, its platform for detecting, investigating and responding to security threats across PCs, servers, networks and cloud environments.[1], [2]
Console's investors cash out at a fast markup
TechCrunch reports Console was last valued at 157 million dollars, after a 23 million dollar Series A co-led by DST Global and Thrive Capital, which had also led a 6.2 million dollar seed round; founder Andrei Serban previously built Fuzzbuzz, which Rippling bought. Chief executive Nikesh Arora, himself an angel investor in Console, said the startup gives Cortex the arms and legs to deliver autonomous security outcomes across the enterprise.[1]
The deal fits a run toward autonomous security operations
The Elec reports Palo Alto Networks chief executive Nikesh Arora said security teams should no longer manage dashboards and ticket queues to help people work faster, describing the shift as delivering autonomous security outcomes directly from natural-language instructions. The outlet notes the company's subscription business already runs at 9.1 billion dollars a year and targets 20 billion dollars by fiscal 2030, and that Console, founded in San Francisco in May 2024, follows Palo Alto Networks' earlier 2026 acquisitions of Chronosphere, CyberArk, Portkey and Koi.[2]
