Palo Alto Networks and Apiro deal is on the verge of closing: The value of the transaction should reach about 600 million dollars

Posted on Sep 19, 2022 by Ifi Reporter

Palo Alto Networks and Apiro deal is on the verge of closing. The value of the transaction should reach about 600 million dollars or slightly less, as Calcalist learned. Last week it was revealed in Calcalist that the American cyber giant is about to purchase the Israeli cyber company and now it becomes clear that the deal should be closed in the immediate time frame.
Afiero's platform makes it possible to speed up the software development processes in the organization and reduce the risk involved automatically by combining three technologies: building an inventory of all the applications and code components in the organization, understanding the knowledge of the developers and identifying the essential changes in the code and their business risk.
Afiero has raised only $35 million so far, so the expected return to its founders and shareholders is huge. The only fundraising for the company was led by two leading funds from Silicon Valley - Greylock and Kleiner Perkins - and other investors in the company, including cyber entrepreneurs Miki Bodai, Rakesh Lonker, Amichai Shulman and the founders of Demisto, which was sold to Palo Alto, which include Slavik Markovich, Guy Rinat and Dan Sheral. The investment in the company on behalf of Kleiner Perkins was led by Ted Schlein - a senior partner in the fund who previously invested in Palo Alto Networks and others.
Apiero was founded in 2019 by Idan Plotnik and Jonathan Elder, graduates of the Mtsov cyber unit. Plotnik was the founder and CEO of Orato, which was sold to Microsoft for $200 million, and Jonathan was a development team manager and architect in the company. Apiero currently employs about 100 people.
To date, Palo Alto Networks, founded by the Israeli Nir Tzuk, has acquired seven companies in Israel and currently employs approximately 700 people.


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