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Palo Alto Networks in talks to buy AI agent security startup Clutch for $500M
Palo Alto Networks is in talks to acquire Clutch Security , a startup that secures AI agents’ access to company systems, for $500 million in cash plus additional milestone-based payouts, according to a person familiar with the discussions.
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Palo Alto Networks is negotiating to buy Clutch Security, a three‑year‑old startup that protects AI agents’ access to corporate systems, for $500 million in cash plus milestone‑based payouts. Clutch last raised a $20 million Series A in January 2025, valuing the company at $85 million, and is now nearing $10 million in annual recurring revenue. The proposed purchase price would represent roughly a 50‑times multiple of Clutch’s ARR, a valuation metric commonly used for software firms. The deal remains under discussion, according to a source familiar with the talks.
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