CyberArk Board Approves $25 Billion Acquisition by Palo Alto Networks
Deal News | Jul 31, 2025 | Goodwin
Palo Alto Networks has entered into a definitive agreement to acquire CyberArk for approximately $25 billion. The transaction includes CyberArk shareholders receiving $45.00 in cash and 2.2005 shares of Palo Alto Networks common stock for each share they hold. This represents a 26% premium to the unaffected ten-day average of CyberArk's Volume Weighted Average Prices (VWAP) as of July 25, 2025. Qatalyst Partners served as the financial advisor to CyberArk, with legal advisory services provided by the law firm Goodwin. The advisory team at Goodwin was led by Joshua Zachariah, Blake Liggio, and Amanda Gill. This acquisition represents a strategic move for Palo Alto Networks to expand its cybersecurity capabilities.
Sectors
- Cybersecurity
- Investment Banking
- Legal Services
Geography
- United States – Both Palo Alto Networks and CyberArk are publicly traded on NASDAQ, and the services of Goodwin's team are based in the United States, including their offices in legal markets like New York and San Francisco.
Industry
- Cybersecurity – Both Palo Alto Networks and CyberArk operate within the cybersecurity industry, providing solutions to protect organizations from cyber threats.
- Investment Banking – Qatalyst Partners is involved as the financial advisor in this M&A transaction between Palo Alto Networks and CyberArk.
- Legal Services – The law firm Goodwin provided legal advisory services to CyberArk for the acquisition.
Financials
- $25 billion – The total valuation of the acquisition deal between Palo Alto Networks and CyberArk.
- $45.00 per share and 2.2005 shares of Palo Alto Networks – Compensation offered to CyberArk shareholders for each share they hold.
- 26% premium – The premium over CyberArk's unaffected ten-day average VWAP as of July 25, 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Palo Alto Networks | Bidding Company | Company | A leading cybersecurity company bidding to acquire CyberArk. |
| CyberArk | Target Company | Company | A publicly traded company in the cybersecurity industry being acquired by Palo Alto Networks. |
| Qatalyst Partners | Financial Advisor | Company | Served as the financial advisor to CyberArk in the acquisition process. |
| Goodwin | Legal Advisor | Company | Provided legal advisory services to CyberArk during the acquisition process. |
| Joshua Zachariah | Legal Advisor | Person | Led the legal advisory team from Goodwin for this transaction. |
| Blake Liggio | Legal Advisor | Person | A member of the legal advisory team from Goodwin supporting CyberArk. |
| Amanda Gill | Legal Advisor | Person | A member of the legal advisory team from Goodwin involved in the transaction. |