Palo Alto Networks is in talks to acquire Israeli-based CyberArk, a leading identity security provider, according to the Wall Street Journal. If the deal sees the light of the day, it would be the largest acquisition in the cybersecurity giant’s history, with a value “well above” CyberArk’s current market capitalization of $20 billion.
CyberArk is a leader in privileged access management (PAM) applications and has a strong position in the identity security market.
Both Palo Alto Networks and CyberArk declined to comment on rumors or speculation, according to US media outlets such as CRN. Previous acquisitions by Palo Alto Networks acquisitions were never valued at more than $800 million.
Citing sources close to the negotiations Wall Street Journal reported that an agreement could be reached as early as the end of this week.
Palo Alto Networks has recently made a series of acquisitions, including Protect AI, a startup focused on AI security and machine learning, last week.
CyberArk itself has also strengthened its platform through acquisitions of machine identity company Venafi ($1.54 billion in 2024) and identity governance vendor Zilla Security ($175 million in February).
