We’re moving away from investigating an attack once every few hours or once every few days to investigating 10s of millions or 100s of millions of potential attacks every second. Humans can’t do that we need machine learning.Read More Source link
This was not the release tech bulls wanted ahead of the most anticipated report of earnings season. Shares of cybersecurity company Palo Alto crashed as much as 20% after it slashed its revenue forecast for the year, sparking concerns that tech euphoria may be misguided and that customers are reining in tech spending. Here’s what the company just reported for the just concluded fiscal Q2 ended Jan 31: Sales rose 19% to $1.975 billion beating estimates of $1.97 billion, and in line with the company’s Nov guidance of $1.955BN-$1.985BN. Product revenue grew more slowly than service and support sales, underscoring an ongoing shift at the company. Adjusted EPS rose to $1.46 a share, also beating estimates of $1.30, and above the company’s November guidance of $1.29-$1.31 While the historicals were solid, it was the company’s guidance that shocked investors: PANW reported that sales in 2024 will be $7.95BN-$8BN this fiscal year, a decline from the previous projection of as much as $8.2 billion, and also a big miss to analyst estimates of $8.18 billion. The top …
Palo Alto Networks has just confirmed one more major piece of security startup M&A out of Israel: it has acquired Talon Cyber Security, a specialist in building enterprise browsers for securing distributed workforces sources. Source say the deal is valued at $625 million. This is PA’s second Israeli security acquisition within a week: last Tuesday, Palo Alto Networks announced that it was scooping up cloud data specialist Dig Security, for a price that sources close to the deal tell TechCrunch was around $400 million. As with Dig, Talon will be integrated with Palo Alto’s Prisma cloud security division. We first reported that the two deals were in the works in September, after hearing for weeks beforehand that it was about to make some big acquisitions to beef up its security bench. Talon — cofounded by Ofer Ben-Noon and Ohad Bobrov — had raised around $143 million, with its investors including Team8 (a specialist cyber investor in Israel), Entrée Capital, Evolution Equity, LightSpeed, and Cyverse Capital. Sources tell us Talon was approached proactively and was not …
We reported in September that Palo Alto was getting ready to make yet more security acquisitions out of Israel, specifically of Dig Security and Talon. Today, some confirmation of one of those has arrived: the U.S. security giant said it would be acquiring Dig. The company is not disclosing the financial terms but our sources say it is in the region of $400 million. The deal is a key development for tech right now in Israel. This is a huge part of the country’s economy, and it has in many ways completely frozen in the wake of current political events: Israel is in the middle of a major retaliatory attack on Gaza as it seeks to root out Hamas after the latter group broke through walls and killed 1,400 Israelis and took hundreds back as hostages as they retreated. The whole conflict has spilled out into becoming a global concern given how many people are now also being killed in Gaza, and the wider ramifications for everyone as a result. In the meantime, much of the …
Palo Alto Networks’ stock price has been on the rise on the back of strong earnings and growing demand for cybersecurity services, and now the company is using that momentum to do a little shopping. TechCrunch has confirmed with multiple sources that Palo Alto is in advanced negotiations to buy not one, but two, security startups out of Israel for around $1 billion altogether to expand its portfolio of services. Specifically, it is looking at Talon Cyber Security — which has developed an enterprise browser aimed at security distributed workforces — for between $600 million and $700 million; and Dig Security — a specialist in securing data across public clouds — for between $300 million and $400 million. Palo Alto is publicly traded and currently has a market cap of close to $70 billion. Both startups are under three years old, and in both cases these would be strong outcomes compared to their existing valuations. Talon has raised around $143 million, and Dig has raised only around $45 million. Respectively, their investors include Entrée Capital, …
