Palo alto networks acquires Console for $500m to boost ai-driven security

Palo Alto Networks has acquired Console, an AI-driven IT help desk startup, for $500 million in cash and stock, according to two sources. The deal, announced on Tuesday, will integrate Console’s agentic functionality into Cortex, the cybersecurity giant’s AI platform. Console, founded in 2024 by Andrei Serban, was valued at $157 million before the sale, delivering a strong return for investors including Nikesh Arora, Palo Alto Networks’ CEO. The startup, which raised $29 million in funding, automates routine IT tasks like password resets and app access. Palo Alto Networks’ acquisition marks its seventh deal in 2026, following purchases of Chronosphere and Koi. Console’s acquisition leaves Serval as the leading competitor in AI-driven IT service management. Console, which competed with Serval, a $1 billion-valued startup, will enhance Cortex’s capabilities, allowing security teams to investigate and resolve alerts using natural language. Arora described the move as giving Cortex ‘the arms and legs to deliver autonomous security outcomes.’ The deal underscores Palo Alto Networks’ strategy to expand its AI-driven security offerings in the enterprise space.