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Palo Alto Networks to Acquire CyberArk for $25 Billion to Bolster Identity Security

The boards of both companies have approved the cash-and-stock agreement, with closing expected in the second half of Palo Alto’s fiscal 2026 pending regulatory review followed by a CyberArk shareholder vote.

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CHONGQING, CHINA - MAY 18: In this photo illustration, the logo of Palo Alto Networks, Inc. is displayed on a smartphone screen, with the company's latest stock market chart in the background, reflecting investor sentiment and recent trading activity, on May 18, 2025, in Chongqing, China. Palo Alto Networks is a leading American multinational cybersecurity company that provides advanced firewalls, cloud-based security, and AI-driven threat intelligence solutions to businesses and governments worldwide. (Photo Illustration by Cheng Xin/Getty Images)
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Overview

  • CyberArk investors will receive $45 in cash and 2.2005 shares of Palo Alto Networks common stock per share, valuing the transaction at roughly $25 billion and reflecting a 29.2% premium to pre-deal levels.
  • Both boards have unanimously approved the deal, which awaits regulatory review and a CyberArk shareholder vote ahead of a projected close in the second half of Palo Alto’s fiscal 2026.
  • The acquisition represents Palo Alto’s largest transaction to date and marks its formal entry into the identity security market.
  • Palo Alto plans to integrate CyberArk’s privileged access management tools into its Strata and Cortex platforms to deliver AI-driven, identity-aware security across networks and endpoints.
  • The deal highlights a wider industry push toward consolidated cybersecurity platforms designed to counter escalating AI-driven and machine identity threats.