Palo Alto Networks has acquired Console, an AI-driven IT help desk automation startup, for $500 million in cash and stock, sources report. This deal officially closed in early September 2026 but the financial terms were not disclosed in the companies' announcement. Founded in 2024, Console raised $29 million from investors including Thrive Capital, DST Global, and angel backers such as Palo Alto Networks CEO Nikesh Arora, who saw a rapid return on his early investment.

Console’s AI technology automates repetitive IT support tasks like password resets and app access permissions without human intervention. The startup served clients such as Ramp, Flock Safety, and Scale AI. Palo Alto Networks plans to integrate Console’s capabilities into its Cortex platform, enhancing its AI-powered cybersecurity automation by enabling natural language-based investigation and resolution of security alerts, which Arora described as giving Cortex more autonomous operational ability across enterprises.

The acquisition marks Palo Alto Networks’ seventh purchase in 2026, following their buys of firms like observability platform Chronosphere and cybersecurity startup Koi. Console had been valued at $157 million before the acquisition, competing in the AI IT service automation sector primarily against Sequoia-backed Serval, which recently reached a $1 billion valuation and diversified into AI assistance across HR, legal, and finance.

Following this transaction, Console exits the startup scene, positioning Serval as the leading independent company in AI-driven IT service automation. Industry observers note that this deal represents Palo Alto Networks’ ongoing strategy to bolster its AI and automation capabilities through targeted startup acquisitions, reinforcing its foothold in the cybersecurity and enterprise software markets.