Palo Alto Networks announced plans to acquire CyberArk, a company in Identity Security. This deal values CyberArk at about $25 billion and gives a 26% premium compared to the average stock price of CyberArk over the past 10 days as of July 25.
As per the agreement, each shareholder of CyberArk will receive $45 in cash and 2.2005 shares of Palo Alto Networks for every CyberArk share they own.
This partnership will help Palo Alto Networks expand into Identity Security. By combining CyberArk’s expertise in Identity Security and Privileged Access Management (PAM) with Palo Alto Networks’ advanced security technology, they will better protect all types of identities, including people, machines, and AI systems.
Nikesh Arora, the CEO of Palo Alto Networks, explained that they aim to enter new areas at the right time, and they believe it’s the perfect time for Identity Security. He emphasized that as AI technology grows and new kinds of digital identities increase, security must focus on controlling access to these identities. CyberArk leads in Identity Security technology, which is important for a secure future driven by artificial intelligence.
Udi Mokady, the founder of CyberArk, shared his excitement about this partnership, saying it marks an important point in CyberArk’s growth. He said their goal has always been to protect vital assets with a strong focus on innovation and security. Working together with Palo Alto Networks will help them tackle difficult identity security challenges and enhance their commitment to protecting both human and machine identities.
Once the deal is finalized, both companies will work together, uniting their strengths and cultures. This will create an impressive and integrated security package for customers, allowing them to focus on their business goals while trusting these companies to protect their digital environment.
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