Palo Alto Networks is reportedly negotiating to acquire identity security vendor CyberArk in a deal that could be the largest in the company’s history. The proposed acquisition would value CyberArk at more than $20 billion, surpassing its current market capitalization.
CyberArk has been strengthening its platform through acquisitions, including the purchase of machine identity vendor Venafi for $1.54 billion and identity governance startup Zilla Security for up to $175 million. The company’s stock price jumped 12% following news of the potential deal.
Palo Alto Networks has a history of making significant acquisitions, with its most recent purchase being Protect AI, a startup focused on AI security. However, this proposed deal would be the largest in the company’s history if it goes through.
Source: https://www.crn.com/news/security/2025/palo-alto-networks-in-talks-to-acquire-identity-security-vendor-cyberark-report