Analyst Articles
Palo Alto Networks to Acquire CyberArk in Push into Identity Security at $25 Billion
Palo Alto Networks (NASDAQ: PANW) has announced an agreement to acquire CyberArk Software (NASDAQ: CYBR) for approximately US$25 billion, marking its first entry into the identity security market. CyberArk shareholders will receive US$45 in cash and 2.2005 shares of Palo Alto Networks common stock, representing a 26% premium to the prior 10-day VWAP. The transaction implies an enterprise value of approximately US$24.6 billion, or 20.5x revenue, and is expected to be accretive to revenue growth and gross margin immediately, with free cash flow per share accretion projected in F2028. [more]