Palo Alto Networks has completed its acquisition of CyberArk in a $25 billion deal, adding privileged access and identity security to its broader cybersecurity platform. The transaction, first announced in July 2025 and described as Palo Alto’s largest acquisition to date, is intended to strengthen the company’s ability to secure identities across modern environments—human users, machine accounts, and emerging agentic AI workflows that operate with persistent access. Palo Alto said CyberArk will continue to be offered as a standalone platform, while its capabilities are integrated across Palo Alto’s portfolio.
The company framed identity as a primary attack path and positioned the CyberArk addition as a step toward reducing “identity silos” for customers managing hybrid cloud estates. Palo Alto also said it intends to pursue a secondary listing on the Tel Aviv Stock Exchange under the ticker “CYBR,” underscoring the companies’ Israel roots and local R&D footprint. The deal valued CyberArk at a 26% premium to its share price before the agreement was disclosed, and it follows Palo Alto’s recent $3.35 billion acquisition of observability provider Chronosphere, signaling continued platform expansion through M&A.