Cybersecurity software producer Palo Alto Networks agreed on Monday to acquire Aporeto, a US-based network security technology developer backed by corporates Comcast, National Grid, Symantec and Telia, for $150m in cash.
Founded in 2015, Aporeto has built a zero-trust cybersecurity platform that automatically protects hybrid and multi-cloud environments from being hacked.
The software authenticates, authorises and encrypts each workload with a cryptographically-signed identity independently of the network configuration and at scale, rather than relying on IP addresses or static access control lists.
The deal is expected to close by the end of January 2020. Palo Alto Networks expects the acquisition of Aporeto to strengthen its own cloud native security platform, Prisma Cloud.
Aporeto secured $20m in a series B round co-led by Comcast Ventures, mass media conglomerate Comcast’s corporate venturing unit, with undisclosed strategic and financial investors, in February this year.
National Grid Partners and Telia Ventures, respective corporate venture capital subsidiaries of energy utility National Grid and telecommunications firm Telia, also contributed to the round, as did venture capital firms Wing Venture Capital and Norwest Venture Partners (NVP).
NVP had previously led the company’s $11.2m series A round in 2017, investing alongside Wing Venture Capital, the latter having already led a $3.3m seed round in 2015 that included VC firm Data Collective.
Aporeto’s shareholders also include cybersecurity technology producer Symantec and VC firm Inspovation Ventures, though they have not disclosed firm details of their investments.
