Cybersecurity · Industry brief

Palo Alto Networks acquired Console, an AI-powered IT help desk automation startup, for $500 million in cash and stock. Console, founded in 2024, had raised $29 million across two rounds from investors including Thrive Capital, DST Global, and SV Angel, with a pre-acquisition valuation of $157 million according to PitchBook. The acquisition marks Palo Alto Networks' seventh deal in 2026; Console will be integrated into Cortex, the company's AI threat detection and response platform, to enable security teams to investigate and resolve alerts using natural language. This is reported by TechCrunch.

Pistachio, an Oslo-based AI-powered human risk platform, announced its IP acquisition of Hugin.io, a Norwegian cyber-risk management platform specializing in cybersecurity posture assessment and regulatory compliance. The acquisition expands Pistachio's offering into compliance management for SMBs and mid-market organizations. The new compliance product, launching in 2027, will help organizations meet standards including ISO 27001, NIS2, SOC 2, and DORA, while automating compliance workflows to reduce manual certification burden. Pistachio previously raised €3.25 million led by Signals VC in 2023 and now serves over 1,000 customers predominantly across Europe.

FTC and DOJ have dramatically escalated Hart-Scott-Rodino (HSR) Act enforcement against transacting parties that structure deals to avoid merger filing requirements. In a medical-device transaction case, the agencies imposed a combined $12 million penalty—the largest HSR penalty ever—against parties that allegedly separated consideration across multiple agreements to stay below the filing threshold and closed without submitting required HSR notification or observing the 30-day waiting period. The complaint noted the purchasing party subsequently acquired the seller's only competitor, demonstrating the agencies' substance-over-form analysis: even though payments were treated independently, their combined value triggered HSR obligations. Under 16 C.F.R. § 801.90, parties cannot purposefully structure transactions to avoid HSR requirements; violators face civil penalties up to $53,088 per day of violation. FTC Chair Andrew Ferguson stated the commission will "be vigilant in enforcing the requirements of the Hart-Scott-Rodino Act." Prior enforcement actions include Canon and Toshiba ($5 million combined penalty in 2019 for a multi-step beneficial-ownership scheme), Sara Lee ($3.1 million for undervaluing an asset acquisition), and Beazer plc ($760,000 for intentionally delaying an HSR filing). Counsel recommend engaging antitrust specialists early, avoiding deal structures designed to fall below thresholds, documenting legitimate business rationale separately from filing avoidance, ensuring complete HSR submissions, and building sufficient lead time for waiting periods.