Palo Alto Networks Acquires AI-Driven IT Help Desk Startup Console for $500 Million

Palo Alto Networks has purchased Console, a two-year-old startup specializing in AI-driven automation of routine IT help desk tasks, for $500 million in a combination of cash and stock. The companies announced the acquisition without disclosing financial details, but sources familiar with the deal confirmed the amount. Console, founded in 2024, had previously raised $29 million from investors including Thrive Capital and DST Global. Prior to the acquisition, the startup was valued at $157 million, providing a significant return for early backers such as SV Angel, Abstract Ventures, and Palo Alto Networks CEO Nikesh Arora, who was an angel investor in Console. The cybersecurity firm plans to integrate Console's AI agent capabilities into its Cortex platform, which uses artificial intelligence to detect and respond to security threats. This integration will enable security teams to investigate and resolve alerts through natural language interactions, enhancing Cortex's ability to deliver autonomous security outcomes across enterprises. Console's technology automates tasks like password resets, application access management, and routine troubleshooting without human intervention. The startup competed with companies like Serval, another AI-powered IT service management platform that recently reached a $1 billion valuation. Console's acquisition leaves Serval as a prominent independent player in this space. This deal marks Palo Alto Networks' seventh acquisition in 2026, following purchases such as observability platform Chronosphere and cybersecurity startup Koi. The acquisition underscores Palo Alto Networks' ongoing strategy to expand its AI and automation capabilities within its security offerings.