Palo Alto to Acquire Israeli Software Supply Chain Startup
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Palo Alto to Purchase Israeli Software program Provide Chain Startup
By Ryan Naraine on November 17, 2022
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Cybersecurity powerhouse Palo Alto Networks on Thursday introduced plans to spend $195 million in money to amass Israeli startup Cider Safety, a deal that provides software program provide chain safety capabilities to its Prisma Cloud platform.
Palo Alto Networks stated the transaction will enhance its ambitions to have Prisma Cloud present the trade’s most complete provide chain safety answer as a part of its code-to-cloud safety platform.
For Cider Safety, an early-stage startup with roots in Tel Aviv, the deal comes lower than a 12 months after its public launch with $38 million in enterprise capital financing.
Cider Safety was backed by Tiger International Administration, Glilot Capital Companions and Glilot’s early development fund, Glilot+.
The corporate’s expertise promised instruments for safety groups to orchestrate and implement end-to-end CI/CD safety.
[ READ: Endor Labs Joins Race to Secure Software Supply Chain ]
“We designed an AppSec platform that permits engineering to proceed to maneuver quick, with out making compromises on safety,” stated Cider Safety chief government Man Flechter.
“There could not be a greater match for Cider. By scanning and securing the CI/CD pipeline, we may help establish the place there could also be vulnerabilities in your code. Prisma Cloud will now be the final word answer for code to cloud safety,” he added.
In a observe accompanying the disclosure of the acquisition, Palo Alto Networks stated it’s investing in instruments to safe the software program provide chain.
“The stakes are excessive in relation to software program provide chain safety. A single insecure step or misconfigured device can expose the whole group,” the corporate stated, positioning its Prisma Cloud platform as “the trade’s most complete provide chain safety answer, delivered as a part of its code-to-cloud safety platform.”
Palo Alto Networks stated the proposed acquisition is predicted to shut through the second quarter of fiscal 2023
Associated: AppSec Agency Cider Safety Raises $38 Million in VC Funding
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Associated: Endor Labs Joins Race to Safe Software program Provide Chain
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