Cybersecurity technology startup Twistlock, which opened a Baton Rouge office last year, is being acquired in a $410 million deal by Palo Alto Networks, a publicly traded cybersecurity business that sells firewall technology.
Twistlock was founded in Israel and has U.S. headquarters is Portland, Oregon. Palo Alto Networks is based in Santa Clara, California.
Twistlock's chief technology officer, John Morello, is a graduate of LSU and drew the company to open a global engineering center in LSU's Innovation Park in April 2018. Twistlock planned to hire about 20 employees. As of this month, the company had more than a dozen employees in Baton Rouge, according to LSU Innovation Park.
In exchange for the local jobs, the state offered an economic incentive package for workforce training, quality jobs program and its Digital Interactive Media and Software Development tax credits, which can provide up to 25 percent tax credit for employee payroll and 18 percent tax credit for production expenses with no caps.
Twistlock has more than 100 employees across the company.
Twistlock, a cyber security firm with major corporate and government clients, plans to open a global engineering center in LSU's Innovation Pa…
LSU Innovation Park Executive Director David Winwood said that he’s optimistic that the company will keep its local office.
“They are a great tenant and we hope that they stick around, we’d love to see them grow here,” Winwood said.
Neither Twistlock nor Palo Alto Networks representatives responded to requests for comment.
Twistlock raised $63 million from investors since 2015, which include ICONIQ Capital, YL Ventures, TenEleven, Rally Ventures, Polaris Partners and Dell Technologies Capital.
The startup sells cybersecurity tools used in cloud computing to major companies like Aetna, Walgreens and insurer USAA, among other technology companies like Workiva and GridSapce.
The cyber security company Twistlock has secured $33 million in Series C funding, as it continues to staff up its Baton Rouge office opened ea…