Palo Alto Networks will acquire CyberArk in a $25 billion agreement, strengthening its multi-platform strategy by making Identity Security a core pillar and extending protection across human, machine and AI identities.
Palo Alto Networks has announced it will acquire CyberArk in a $25 billion agreement that will mark its formal entry into Identity Security.
Under the terms of the deal, CyberArk shareholders will receive $45.00 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk share. This represents a 26% premium to the unaffected 10-day average of the daily VWAPs of CyberArk as of July 25, 2025.
This move will establish Identity Security as a core pillar of Palo Alto Networks’ multi-platform strategy. Combining CyberArk’s leadership in Identity Security and Privileged Access Management with Palo Alto Networks’ AI-powered security platforms will extend privileged identity protection to all types of identities including human, machine and autonomous AI agents.
Nikesh Arora, Chairman and CEO of Palo Alto Networks, said: “Our market entry strategy has always been to enter categories at their inflection point and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the “IAM fallacy”. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.’
Udi Mokady, Founder and Executive Chairman of CyberArk, said: “This is a profound moment in CyberArk’s journey. From the beginning, we set out to protect the world’s most critical assets with a relentless focus on innovation, trust and security. Joining forces with Palo Alto Networks is a powerful next chapter built on shared values and a deep commitment to solving the toughest identity challenges. Together, we’ll bring unmatched expertise across human and machine identities, privileged access and AI-driven innovation to secure what’s next. This is more than a combination of technologies – it’s an acceleration of the mission we began over two decades ago. I’m incredibly proud of what our team has built and deeply grateful to everyone who made this milestone possible.’
The integration of the two companies will accelerate Palo Alto Networks’ platform strategy, combining CyberArk’s capabilities into its Strata and Cortex platforms. This will provide customers with what is pitched as identity-aware security and real-time response across the enterprise, disrupt the legacy IAM market by extending privilege controls to every identity and secure the emerging category of agentic AI.
Once closed, the acquisition will unite two security leaders with shared values, strong cultures and talented teams, offering what the company calls the industry’s most comprehensive and integrated security portfolio.
