Palo Alto Networks paid about $500M to buy Console, sources say

In short: Palo Alto Networks paid about $500 million to acquire Console, a startup that uses AI to handle common IT help desk work, according to people familiar with the deal.

What happened

Palo Alto Networks announced it acquired Console on Tuesday, but did not share the price. Two people with knowledge of the deal told TechCrunch the company paid about $500 million in cash and stock.

Console is a two-year-old startup founded in 2024. It built software that uses AI “agents,” meaning programs that can take actions for you, like a digital assistant that can actually do the task, not just suggest steps. Console’s tools can do routine help desk jobs like resetting passwords, giving access to workplace apps, and basic troubleshooting.

Console had raised $29 million from investors, including Thrive Capital and DST Global. PitchBook listed Console’s valuation before the sale at $157 million. TechCrunch also reported that Palo Alto Networks CEO Nikesh Arora invested in Console personally as an angel investor, which means he backed it with his own money.

Palo Alto Networks said it will integrate Console into Cortex, its security platform. The company says this should help security teams investigate and fix alerts using everyday language, instead of clicking through lots of menus.

Why it matters

Many companies are trying to reduce the time people spend on repetitive IT and security work, which can feel like answering the same questions all day. If tools like Console work as promised, they can take on more of that load and let human teams focus on harder problems. The deal also changes the startup landscape, with some watchers saying Serval now becomes the main independent startup to watch in this area.

Source: TechCrunch AI