Acquired by Palo Alto Networks (2026)

Palo Alto Networks announced a definitive agreement to acquire Portkey, Inc. on 2026-04-30 for total consideration of **$140millionincashandreplacementawards\ast \ast (perPAN{W}^{\prime }sForm10-Qforthequarterended2026-04-30;asearchsummaryofthelaterFY202610-Kquotes$117 million, substantially all cash, so the figure differs by filing and basis). The deal closed 2026-05-29 (PANW press release “Palo Alto Networks Completes Acquisition of Portkey to Secure AI Agents”, fetched 2026-10-05; it gives no financial terms and names Portkey “the core AI Gateway for Prisma AIRS”). The product is now sold as Prisma AIRS AI Gateway inside Palo Alto Networks’ Prisma AIRS AI-security platform (reported GA 2026-07-16, secondary sources). The open-source gateway remains on GitHub.

Portkey

An LLMOps platform that sits between applications and LLM providers as an AI gateway: one API in front of many models, with observability and governance added on top. Since mid-2026 it is the AI-gateway layer of Prisma AIRS, positioned as a control plane for agent traffic (identity, authorization, runtime security, cost control).

Offering

1. AI Gateway: unified API to many LLMs, MCP servers and agents. The open-source repo (Portkey-AI/gateway) is described by the project as supporting 1,600+ models and 50+ guardrails (vendor claim; licence and star count not re-verified); Palo Alto’s post states “over 3,000 LLMs, MCP servers and agents” for the integrated product (different scopes, counts not reconciled).
2. Observability: dashboards of usage, latency, cost and anomalies.
3. Guardrails: PII redaction and policy controls.
4. Prompt management: central versioning.
5. Governance: RBAC, budgets, cost attribution, audit logs; with PANW also agent registry, semantic routing, caching, red teaming and agent-identity security.

Changes since the 2024 version of this note

The original text (50 million requests processed, “only hosted solution for semantic caching”, 20% cost and 20x speed claims, /v1/proxy snippet with x-portkey-mode) described the 2023-24 product and is removed as unverified/outdated; use the current docs.

Related

ai-api-platforms, langsmith, cloudflare (Cloudflare AI Gateway is a comparable product), agentgateway. Palo Alto Networks has no company note in the vault.

Open items

• GA date (2026-07-16) rests on secondary sources; the PANW press release gives no availability date.
• Deal value: 10-Q says $140Mincl.replacementawards,asearchsummaryoftheFY202610-Ksays$117M; not reconciled (filings not read directly).
• Whether the hosted Portkey service continues under the old name/pricing is unverified.

Sources

• https://www.paloaltonetworks.com/company/press/2026/palo-alto-networks-completes-acquisition-of-portkey-to-secure-ai-agents (accessed 2026-10-05)
• https://www.paloaltonetworks.com/blog/ai-security/securing-and-governing-ai-agents-at-scale-through-a-unified-ai-gateway/ (accessed 2026-10-02)
• https://www.sec.gov/Archives/edgar/data/0001327567/000132756726000015/panw-20260430.htm (PANW 10-Q, via search result, accessed 2026-10-02)
• https://github.com/Portkey-AI/gateway (accessed 2026-10-02)
• https://thenewstack.io/palo-alto-portkey-ai-gateway/ and https://www.govconwire.com/articles/palo-alto-networks-portkey-acquisition-prisma-airs (secondary, accessed 2026-10-02)