Palo Alto to buy Israel’s Cider Security for USD 300 million
Palo Alto Networks has agreed to buy Israeli cybersecurity company Cider Security, with the deal estimated to involve USD200 million in cash and USD100 million in shares.
Founded in late 2020, Cider provides highly tailored controls and solutions to optimize security and achieve full resilience across the pipelines, from code to deployment. The company has raised USD 38 million to date. It completed a USD 32 million Series A in March 2022.
Joining the round was the lead investor from Cider Security’s USD 6 million Seed financing, Glilot Capital Partners, with participation from Glilot’s early growth fund, Glilot+.
Arnon, Tadmor-Levy advised Palo Alto, with the deal comprising Ben Sandler, Barry Levenfeld, Miriam Friedmann, Ofir Levy, with support Ofir Paz, Neta Goshen, Eli Greenbaum, Leah Grumet and Michael Portman
