Palo Alto Networks acquiring Cider Security for $300 million
Calcalist learned that Palo Alto Networks Cybersecurity is buying Cider Security, an Israeli startup in cybersecurity, for $300 million.
The negotiations began Calcalist The deal was announced last month, and will be made official when Palo Alto’s latest results are released. The deal includes $200 million in cash as well as $100 million of Palo Alto stock.
Cider Security has raised $38 Million to date. The company develops the AppSec operating systems. Tiger Global Management managed a $32 Million Series A. Joining the round was the lead investor from Cider Security’s $6 million Seed financing, Glilot Capital Partners, with participation from Glilot’s early growth fund, Glilot+.
100 Cider employees are currently located on three continents. Guy Flechter, Daniel Krivelevich founded Cider in late 2020. Cider’s platform provides a unified view of the entire engineering ecosystem, providing security teams with an understanding and comprehensive view of the technologies, systems, and processes unique to every engineering environment. Security teams receive a customized set of controls and solutions that optimize security and ensure full resilience throughout the entire CI/CD process, from code to deployment.
Palo Alto has previously purchased seven Israeli startups. The most recent was the $156 million acquisition of Bridgecrew Technologies, an Israeli-founded cybersecurity company. Palo Alto was founded in 2012 by Israeli Nir Zuk. It acquired Israeli company Cybera for $200 million. This resulted it setting up its Israel subsidiary. It bought LightCyber 2017 for $105million, and Secdo 2018 for $100million. It acquired Twitslock in 2019 for $410 million, PureSec at around $100 million and Demisto at $500 million.