Palo Alto Networks has acquired two-year-old AI agent startup Console for $500 million in cash and stock, according to sources familiar with the deal. Officially announced without financial terms, the deal integrates Console’s automated IT help desk technology into Palo Alto’s Cortex security platform, enabling security teams to resolve alerts using natural language prompts.
Console had previously raised $29 million, including a seed round led by Thrive Capital and a Series A co-led by DST Global and Thrive, reaching a valuation of $157 million. The deal marks Palo Alto Networks’ seventh acquisition in 2026 as it expands its autonomous security and enterprise automation capabilities.
The acquisition leaves competitor Serval, which recently hit a $1 billion valuation, as a primary independent player in AI-driven IT service management. Console’s customer base previously included companies such as Ramp, Flock Safety, and Scale AI.
Why it matters
Demonstrates strong enterprise demand and exit opportunities for startups building agentic AI workflows for automated IT and security operations.
Consolidates market share for cybersecurity platforms integrating natural language AI capabilities to offer end-to-end autonomous threat resolution.
Source: techcrunch.com
