(Bloomberg/Liana Baker and Jake Bleiberg) — Palo Alto Networks Inc. agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion.

Palo Alto will pay CyberArk investors $45 per share and 2.2005 shares of Palo Alto stock, according to a statement on Wednesday. The companies said the value implies a 26% premium to CyberArk shares on a volume weighted average over 10 days before the Wall Street Journal reported on the acquisition talks. The transaction is expected to close during the second half of Palo Alto Networks’ fiscal 2026.

The deal is Chief Executive Officer Nikesh Arora’s largest since taking the helm in 2018 and gives Palo Alto Networks a suite of identity security tools, which help users determine who should have cert

See Full Page