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Palo Alto Networks in talks to buy AI agent security startup Clutch for $500M
Palo Alto Networks is negotiating to acquire Clutch Security, a three‑year‑old startup that protects AI agents’ access to enterprise systems, for $500 million in cash plus milestone‑based earn‑outs. Clutch, last valued at $85 million after a $20 million Series A in January 2025, is nearing $10 million in annual recurring revenue, implying a purchase price of roughly 50 times ARR, a typical software multiple. The deal would be Palo Alto’s seventh acquisition this year, following purchases of Console, Embrace, Chronosphere and Koi, as [...]