Palo Alto Networks has announced a deal to acquire Dig Security, a cloud-based cybersecurity tool developer. The exact value of the deal has not been disclosed, but TechCrunch reports it to be around $400 million.
Dig Security is an Israeli startup that specializes in developing tools to enhance data security posture management (DSPM). With 70% of organizations storing their data in the cloud and an increasing use of Generative AI, there is a growing need for more data and DSPM to identify vulnerable data and potential storage vulnerabilities, as well as to detect and prevent data leaks.
Palo Alto Networks plans to integrate Dig Security’s DSPM solution with their existing product Prisma Cloud, in order to enhance the real-time cloud monitoring capabilities.
TLDR: Palo Alto Networks announces the acquisition of Dig Security, an Israeli startup specializing in DSPM tools for cloud data security. The deal is estimated to be worth $400 million. This acquisition will strengthen Palo Alto Networks’ Prisma Cloud product and improve real-time cloud monitoring capabilities.