Palo Alto Networks in its $25 billion acquisition of CyberArk Software

On July 30, 2025, Palo Alto Networks, Inc. (NASDAQ: PANW), the global cybersecurity leader, and CyberArk Software Ltd. (NASDAQ: CYBR), the global leader in Identity Security, announced that they have entered into a definitive agreement under which Palo Alto Networks will acquire CyberArk in a cash-and-stock transaction valued at approximately $25 billion.  Under the terms of the agreement, CyberArk shareholders will receive $45.00 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk share.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Palo Alto Networks.