February 4, 2019 / 9:55 AM / 4 months ago

Palo Alto in talks to buy information security firm Demisto: report

JERUSALEM (Reuters) - Palo Alto Networks Inc is in talks to acquire U.S.-Israeli information security firm Demisto Inc, the Calcalist financial daily reported on its website on Monday.

Palo Alto was not available for comment outside U.S. business hours while Demisto was not immediately available for comment.

Calcalist said Demisto declined to comment but quoted co-founder Dan Sarel as saying: “The company is now experiencing significant growth in both sales and number of employees.”

Demisto, founded in 2015 by four McAfee executives, develops and markets automation tools for information security management, including a chatbot that assists security analysts in handling tasks.

Last October, the company raised $43 million in a funding round led by Greylock Partners, bringing its total equity funding to $69 million. Accel Partners, ClearSky Security, Slack Technologies, Wipro Ventures, Secure Octane, and Cerca Partners are also backers.

Reporting by Steven Scheer, editing by Louise Heavens

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