Palo Alto Networks Acquires AI Startup Console for $500 Million

3 Sept 2026, 4:14 am · 9d ago · 1 min read · TechCrunch AI

Amount

$500M

Stage

Acquisition

Palo Alto Networks has acquired AI-powered IT automation startup Console for approximately $500 million, according to industry sources. Backed by Thrive Capital, Console built tools designed to streamline and automate IT service management using artificial intelligence. The deal bolsters Palo Alto Networks' expanding footprint in enterprise AI software while reshaping the competitive landscape. Industry watchers note the acquisition leaves Sequoia Capital-backed Serval as the de facto standalone startup leader in AI IT service automation. The transaction underscores accelerating consolidation as established cybersecurity and cloud infrastructure giants race to acquire cutting-edge enterprise AI capabilities.