Zscaler - Economic Audit

Supply Chain & Sourcing Relationships

Zscaler acquired Israel-based Trustdome Limited on April 15, 2021, purchasing all outstanding shares for approximately $31.1 million in cash and describing the company as its first Israeli development center ^{1, 2}.
Zscaler announced the acquisition of Canonic Security in February 2023, describing the transaction as adding SaaS supply-chain-security capabilities ³.
Zscaler’s FY2025 filing states that it acquired Canonic Security Technologies Ltd., an Israeli-incorporated early-stage technology company, on February 20, 2023, for $16.5 million in purchase consideration and integrated its technology into the cloud platform ⁴.
Zscaler acquired Avalor Technologies Ltd., an Israeli-incorporated early-stage company, on March 8, 2024, for $256.7 million in purchase consideration and reported that Avalor’s technology had been integrated into its cloud platform ⁴.
Avalor Technologies LTD remained listed as a significant Israeli subsidiary in Zscaler’s September 2025 subsidiaries exhibit ⁵.
The reviewed sources do not establish whether Trustdome or Canonic remain separate operating entities, or whether either was merged, renamed, or dissolved following acquisition ^{4, 5}.
No public evidence identified of Israeli physical-product manufacturing, Israeli component sourcing, Israeli warehouse activity, or Israeli supplier relationships beyond the acquired technology companies and development-center activity described in the reviewed corporate sources.

Zscaler describes its business as a cloud-security platform and reports a single reportable segment rather than separately disclosing Israel-origin product revenue or Israel-specific product lines ⁴.
The company states that the technologies acquired through Canonic and Avalor were integrated into its cloud platform ⁴.
The reviewed filings identify research-and-development centers in India, Canada, Israel, and Spain, but do not disclose the Israeli center’s address, product ownership, staffing, manufacturing activity, or regulatory designations ⁴.
No public evidence identified that Zscaler manufactures physical products in Israel, labels products as Israeli-made, or holds Israeli critical-infrastructure designation.

Zscaler, Inc. is a Delaware corporation and Nasdaq-listed public company trading under the symbol “ZS” ⁴.
Its consolidated financial statements include Zscaler, Inc. and its wholly owned subsidiaries ⁴.
Zscaler reported FY2025 revenue of $2.673 billion and 7,923 employees worldwide as of July 31, 2025, without reporting Israel-specific revenue or employment ⁴.
The FY2025 filing records $16.5 million of consideration for the Canonic acquisition and $256.7 million for the Avalor acquisition ⁴.
The 2025 proxy reports that, as of November 1, 2025, Ajay Mangal as trustee held 18.2% of common shares, Jay Chaudhry held 16.8%, and Vanguard Group held 7.1% ⁶.
The proxy identifies members of Jay Chaudhry’s family as beneficiaries of the trusts for which Ajay Mangal serves as trustee ⁶.
No public evidence identified in the reviewed corporate sources of Israeli state ownership, Israeli sovereign-bond holdings, Israeli tax incentives, Preferred Technology Enterprise status, or material disclosed investments in Israeli companies by Zscaler’s executives, directors, or controlling holders ^{4, 6}.

Zscaler’s FY2025 filing states that it maintains an R&D center in Israel ⁴.
The September 2025 significant-subsidiaries exhibit lists Avalor Technologies LTD and Zscaler Israel LTD as Israeli-incorporated significant subsidiaries ⁵.
The subsidiaries exhibit does not disclose ownership percentages, addresses, workforce, revenue, tax registration, or operational scale for Avalor Technologies LTD or Zscaler Israel LTD ⁵.
Zscaler’s reviewed filings do not disclose an Israeli office address, warehouse, data-center asset, Israel-specific market characterization, or Israel-specific tax contribution ^{4, 5}.
No public evidence identified in the reviewed corporate sources of facilities or operations in East Jerusalem, the West Bank, the Golan Heights, or other occupied territory ^{4, 5}.

Zscaler, Inc. was incorporated in Delaware in September 2007 as SafeChannel, Inc. and changed its name to Zscaler, Inc. in August 2008 ⁴.
The company’s stated principal executive office is 120 Holger Way, San Jose, California ⁴.
Jay Chaudhry is identified as Zscaler’s Founder, CEO, and Chairman, and the 2025 proxy states that he has held the CEO and Chairman roles since September 2007 ⁶.
The proxy lists Kevin Rubin, Adam Geller, Raj Judge, Mike Rich, and Robert Schlossman among Zscaler’s executive officers ⁶.
No public evidence identified in the reviewed SEC filings of Israeli incorporation, Israeli headquarters, Israeli principal place of management, Israeli tax residency, Israeli state-appointed directors, Israeli-state golden-share rights, or governance provisions tying Zscaler’s mission to Israeli state policy ^{4, 6}.

Zscaler reports its financial results on a consolidated basis and does not disclose revenue, profit, tax paid, dividend flows, or repatriated earnings attributable specifically to Israel ⁴.
The reviewed sources establish acquisition payments for Trustdome, Canonic, and Avalor, but do not establish the subsequent destination of profits generated by Israeli operations or subsidiaries ^{1, 2, 4}.
The reviewed sources do not disclose Israeli employment totals, Israeli tax contributions, or the local economic scale of Zscaler Israel LTD or Avalor Technologies LTD ^{4, 5}.
No public evidence identified of Israel-specific profit repatriation, dividends, royalty flows, tax-incentive benefits, or quantified economic contribution in the reviewed corporate sources.