Cybersecurity company Palo Alto Networks is buying CyberArk in a cash-and-stock deal valued at approximately $25 billion
ByMICHELLE CHAPMAN AP business writer
Cybersecurity company Palo Alto Networks is buying CyberArk in a cash-and-stock deal valued at approximately $25 billion.
CyberArk, which is based in Petach-Tikva, Israel, develops software that detects attacks on privileged accounts.
CyberArk shareholders will receive $45 in cash and 2.2005 shares of Palo Alto Networks common stock for each share of CyberArk that they own.
Palo Alto Networks Inc. said Wednesday that the transaction will give it access to the identity security market.
“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for identity security is now,” Palo Alto Networks Chairman and CEO Nikesh Arora said in a statement. “This strategy has guided our evolution from a ne