Palo Alto to Buy CyberArk for $25 Billion

Palo Alto Networks has confirmed it will acquire Israeli identity security firm CyberArk for approximately $25 billion in a cash-and-stock transaction, with CyberArk shareholders receiving $45 in cash and 2.2005 Palo Alto shares per CyberArk share—a 26% premium. The acquisition, expected to close in Palo Alto's fiscal 2026, is the company's largest and marks a significant expansion into identity security amid intensifying AI-driven cybersecurity threats. The deal follows Alphabet's $32 billion purchase of Wiz, highlighting accelerating industry consolidation. Analysts expect the deal to be immediately accretive to Palo Alto's revenue growth and gross margin and to strengthen its position in privilege controls for the AI era. Despite initial declines in Palo Alto's stock, the acquisition is seen as transformative for the cybersecurity sector. In related news, Check Point CEO Nadav Zafrir stated his company will not pursue a sale and will focus its cash reserves on its own M&A strategy.