Palo Alto Networks has been confirmed to be in advanced talks to acquire both Israel-based security startups Talon Cyber Security and Dig Security for nearly $1 billion in total, reports TechCrunch.
Secure enterprise browser developer Talon Cyber Security is poised to be purchased for $600 million to $700 million, while Palo Alto Networks will reportedly shell out $300 million to $400 million to buy public cloud data security specialist Dig Security, according to various sources. While all of the involved parties have not provided any statement regarding the acquisitions, such a development indicates prioritization of security among businesses of all sizes.
"For end customers, security is still a big business risk, so budgets are back in action and we're seeing sales picking up in Q3 and Q4. Security companies will want to tap into this opportunity aggressively," said one source.
Meanwhile, another source highlighted the significant opportunity offered by Palo Alto Networks' purchase of Talon.
"They're creating a new category that has the potential of being bigger than endpoint security altogether. They're reinventing the operating system," the source added.
Almost two-thirds of city and county officials noted having inadequate cybersecurity budgets even though 55% had increased spending this year, compared with 7% who noted reduced cybersecurity allocations, StateScoop reports.