There has been a recent spate of acquisitions here in Portland. Some Portland companies acquiring. Some Portland companies getting acquired. This is one of the latter. With recent Portland transplant Twistlock getting acquired for $410 million.
Under the terms of the agreement, Palo Alto Networks will pay approximately $410 million in cash, subject to adjustments, to acquire Twistlock. Twistlock, the container security leader, combines vulnerability management, compliance, and runtime defense for cloud-native applications and workloads. The company serves more than 290 customers, with more than a quarter on the Fortune 100 list. Twistlock co-founders, Ben Bernstein and Dima Stopel, will join Palo Alto Networks.
Needless to say, there was coverage. So here’s your roundup.
The Santa Clara, Calif.-based platform security giant said it will pay $410 million to buy Portland, Ore.-based Twistlock, while terms of the PureSec acquisition are not being disclosed. Adding Twistlock and Tel Aviv, Israel-based PureSec to the Palo Alto Networks Prisma cloud security suite will put the company in a unique position to secure modern applications throughout their entire lifecycle.
GeekWire: Palo Alto Networks shells out $410M for Portland’s Twistlock and its container security technology
Twistlock is headquartered in downtown Portland, but it does a lot of its engineering work in Israel, which has a well-deserved reputation in the tech world for producing top-notch cybersecurity companies and engineers. Palo Alto Networks also announced Wednesday that it had acquired PureSec, an Israel-based security company focused on serverless computing.
Portland Business Journal: Palo Alto Networks acquires Portland cybersecurity startup for $410M
Twistlock was founded in 2015 and has raised a total of $63.1 million from investors. Last year, on the heels of a $33 million raise the company moved its headquarters from San Francisco to Portland. Prior to the headquarters shift, the company had a growing Portland office with several executives out of fellow Portland software-maker Puppet.
Twistlock has raised a little over $63 million, according to Crunchbase data, so that price tag presumably gives its investors quite a nice rate of return, but Palo Alto probably sees what everyone else is seeing, and having a container security piece in its toolkit is going to be a highly valuable asset.
Twistlock, an online security startup that moved its headquarters to Portland just last summer, sold Wednesday for $410 million in cash. It’s among the biggest deals ever for a young Portland tech company.