Palo Alto Networks negotiating purchase of Clutch Security, $500 million cash
Business
Palo Alto Networks is reportedly in talks to acquire Clutch Security for $500 million in cash plus additional milestone-based payouts.
Clutch, a three-year-old startup, helps protect access for AI agents and just last year was valued at $85 million after raising $20 million.
Now, it's almost hitting $10 million in yearly recurring revenue, a big jump in a short time.
Palo Alto Networks's potential 7th acquisition
If the deal goes through, it'll be Palo Alto Networks's seventh acquisition this year, showing how serious they are about tackling cyber threats powered by AI.
The company recently bought Console for the same amount, and other cybersecurity firms like Oasis Security and Astrix have also been snapped up lately as everyone gears up to handle smarter attacks.