Palo Alto Networks Buys Console for $500 Million, Its 7th Acquisition of 2026

3 articles · Updated · TechCrunch · Sep 2

$500 million in cash and stock bought Palo Alto Networks the two-year-old startup Console, giving the cybersecurity company a disclosed price after Tuesday’s announcement omitted terms.
Console’s AI agents automate help-desk work such as password resets, app access and troubleshooting, and Palo Alto plans to fold that technology into Cortex so security teams can investigate and resolve alerts in natural language.
The deal delivers a sharp return on Console’s $29 million raised since 2024 and its last known $157 million valuation; investors included Thrive Capital, DST Global and CEO Nikesh Arora as an angel backer.
Console’s sale leaves Serval — valued at $1 billion after a $75 million Series B last December — as a key startup to watch in AI-driven IT service management.
The acquisition extends Palo Alto’s 2026 buying spree to seven deals, following purchases including Chronosphere at a $3.35 billion valuation and Koi for $400 million.

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