MoFo Advises Palo Alto Networks on Acquisition of Koi

Morrison Foerster advised Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, on its entry into a definitive agreement to acquire Koi, the pioneer of Agentic Endpoint Security, giving enterprises the power to finally see and protect the AI-native ecosystem that defines modern work, for total consideration of $300 million in cash and replacement awards, subject to adjustments. After the close of the acquisition, Koi's Agentic Endpoint Security will extend to Palo Alto Networks' Prisma AIRS™, its leading AI security platform. This integration will broaden coverage across critical AI-driven operations.

The global MoFo team advising Palo Alto Networks was led by M&A partners Lauren Bellerjeau and Chere See. The team also included corporate associates JD Husband, Sahana Ragunathan, Brayan Arreola and Olivia Dietrich; technology transactions partner Tessa Schwartz and associates Sophie Zander, Kevin Kallet and Eric Ahern; executive compensation + benefits partners Joshua Lerner and Yuan Xia and associate Sarah Doberneck; employment + labor partner Michael Schulman and associates Melissa Harclerode and Niki Hendi; tax partner Dave Sturgeon and associate Seth Stowe; data, cyber + privacy partner Julie O’Neill and associate Joshua Fattal; antitrust partner Kerry Jones and associate Aaron Scheinman; export controls partner James Brower and associate Mason Gauch; and anti-corruption partner Ruti Smithline and associate Eduardo Schneider.

The acquisition is expected to close in Palo Alto Networks’ second half of fiscal 2026, subject to the satisfaction of closing conditions, including regulatory clearance. More information can be found at Palo Alto Networks’ press release.