Palo Alto Networks paid $500M for Thrive-backed Console, sources say

The acquisition also leaves Sequoia-backed Serval as the de facto startup leader in AI IT service automation, industry watchers believe. Palo Alto Networks paid $500 million in cash and stock to acquire Console, a two-year-old startup that uses AI agents to automate routine IT help desk tasks, according to two people with knowledge of the deal. The companies officially announced the acquisition on Tuesday but didn’t reveal terms of the deal [1].

Sources

1. techcrunch.com · Palo Alto Networks paid $500M for Thrive-backed Console, sources say Sep 2, 2026

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