The Israeli cybersecurity company CyberArk is being bought for 25 billion dollars
The company Palo Alto Networks, specializing in cybersecurity and founded by American-Israeli entrepreneur Nir Zuk, announced the acquisition of the Israeli company CyberArk.
CyberArk is well known in the field of data protection. It helps companies safeguard the most critical elements of digital security — such as administrator passwords and access to internal systems, to prevent damage from hackers or malicious employees.
The deal amount is 25 billion dollars. This is the second-largest deal in the history of Israeli high-tech. Only Google paid more, having acquired the Israeli company Wiz for 32 billion dollars in March this year. The purchase of Mobileye in 2017 cost Intel Corporation 15 billion dollars.
CyberArk has been listed on the American stock exchange Nasdaq since 2014 and is currently valued at 22 billion dollars.
According to Palo Alto Networks CEO Nikesh Arora, in a world where artificial intelligence is developing and the number of digital “personalities” — from people to robots and software — is growing, it’s crucial to strictly control who has access to what. This is CyberArk’s specialty, and that’s why it’s so valuable.
Under the terms of the deal, CyberArk shareholders will receive part of the amount in cash ($45 per share) and part in the form of Palo Alto Networks shares.
