Aussie Founders Land $5.2 Billion Exit as Palo Alto Networks Snaps Up Chronosphere After Cloudflare Outage
Palo Alto Networks will acquire observability startup Chronosphere for A$5.18 billion (US$3.35 billion), marking one of the largest tech exits by Australian founders this year. The deal follows a major Cloudflare outage on November 18 that disrupted services like ChatGPT and Spotify. Chronosphere, founded by Martin Mao and Rob Skillington, counts OpenAI and DoorDash among its customers. Palo Alto Networks also reported strong Q1 2026 results and raised its outlook.