The security giant's acquisition of Thrive-backed Console consolidates the AI IT service automation market and hands Sequoia-backed Serval the startup lead.
Palo Alto Networks has acquired Console, an AI-driven IT service automation startup backed by Thrive Capital, for roughly $500 million, according to people familiar with the deal. The move pulls one of the category's fastest-growing players off the market just as enterprise demand for AI-powered IT support tooling accelerates.
With Console absorbed into Palo Alto Networks, industry watchers now see Sequoia-backed Serval as the last major independent player in the space, sharpening the competitive field for enterprises shopping for automation vendors.
A $500M exit signals large security incumbents see AI IT automation as core infrastructure, not a bolt-on feature, and are willing to pay up rather than build. For remaining independents like Serval, the consolidation is both validation and a warning: the acquisition window may be closing fast.
The daily signal, curated. Get it in your inbox.
Subscribe on LinkedIn →