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Major cyber security firm Palo Alto Networks has unveiled plans to acquire identity security firm CyberArk in a US$25 billion deal.
In statements released Wednesday (30 July), Palo Alto and CyberArk announced the deal, which would see the leading US cyber security firm exchange a mix of cash and shares to acquire CyberArk and the means to enter into the identity security space.
“Under the terms of the agreement, CyberArk shareholders will receive [US]$45.00 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk share. This represents an equity value of approximately [US]$25 billion for CyberArk,” a CyberArk statement said.
“This strategic combination will mark Palo Alto Networks’ formal entry into identity security, establishing it as a core pillar of the company’s multi-platform strategy.
“Combining CyberArk’s longstanding leadership in identity security and privileged access management (PAM) with Palo Alto Networks’ comprehensive AI-powered security platforms will extend privileged identity protection to all identity types, including human, machine, and the new wave of autonomous AI agents.”
The CyberArk acquisition is one of the largest in 2025, and one of many deals Palo Alto has entered since CEO and chairman Nikesh Arora took the position in 2018. In total, the company has reportedly spent US$7 billion in acquisitions so far.
“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for identity security is now,” said Arora.
“This strategy has guided our evolution from a next-gen firewall company into a multi-platform cyber security leader.”
In 2023, the company paid US$625 million for Talon Cyber Security and US$400 million for Dig Security. It also spent US$156 million in 2021 on Bridgecrew.
The CyberArk deal is one of the largest of the year, with the largest deal being Google’s acquisition of Wiz in March, which cost the company US$32 billion.
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