Palo Alto Networks to Buy CyberArk for USD25B
Palo Alto Networks, a leading US-based cybersecurity company founded by Israeli entrepreneur Nir Zuk, has agreed to acquire CyberArk, a global identity security pioneer headquartered in Petah Tikva, in a USD25 billion cash-and-stock transaction.
CyberArk shareholders will receive USD45 in cash and 2.2005 shares of Palo Alto stock for each share held, reflecting a 26% premium. Expected to close in the second half of Palo Alto’s fiscal 2026, the deal significantly expands Palo Alto’s capabilities in privileged access management and reinforces its long-standing presence in Israel.
This acquisition comes amid a record-breaking year for Israeli tech exits, including Google’s USD32 billion purchase of Wiz, and reinforces the country’s reputation as a world leader in cyber innovation, talent, and R&D.
Arnon, Tadmor-Levy advised Palo Alto Networks, with a multi-disciplinary team led by Ben Sandler, Liron HaCohen, Michael Portman, Shai Margalit, Ofir Levy, Ayal HaCohen, Ofir Paz, Avi Anouchi, Neta Goshen-Barami, Eli Greenbaum, Miriam Friedmann, Yuval Shalheveth, Lihi Katzenelson, Yarden Alon, and Leah Grumet.
U.S. counsel was Wachtell, Lipton, Rosen & Katz, with the deal led by partners Edward Herlihy, Jacob Kling, Erica Aho (executive compensation), Justin Orr (IP), Gregory Pessin (finance), T. Eiko Stange (tax), and Christina Ma (antitrust).
Arnold & Porter acted as regulatory counsel, led by Jonathan Gleklen in the U.S. and Axel Gutermuth in Europe.
CyberArk was represented by Meitar, with counsel from Dan Shamgar, Shachar Hadar, Matthew Rudolph, Dr. Michael Bricker, Noa Haimi Cohen, Guy Elzam, Meital Koren, Assaf Steinberg, and Shira Azran.
Latham & Watkins advised alongside, led by Charles Ruck, Leah Sauter, and Julia Thompson, among others.
