Thoma Bravo sells Israel’s CyberArk stake for USD370m
CyberArk Software Ltd., an Israeli cybersecurity firm specialising in privileged access and identity security, has successfully completed a USD 370 million secondary offering.
The transaction, led by Bank of America as sole book-running manager, reflects strong investor confidence in the company, which has expanded its market presence with the recent acquisition of Venafi, a US-based leader in machine identity management.
The acquisition combined Venafi’s expertise in machine identity management with CyberArk’s capabilities, creating a comprehensive enterprise-scale identity security platform.
Meitar acted for CyberArk, with the transaction led by Shachar Hadar, Matthew Rudolph, Victor Terner, and Vered Lapushin.
Paul Hastings acted for BofA Securities, the investment banking and capital markets division of Bank of America Corporation, as the sole book-running manager, together with a Naschitz Brandes Amir team led by Tuvia Geffen, Roi Turgheman, and Asi Moravchick.
This offering also enabled private equity firm Thoma Bravo, a major stakeholder, to capitalise on CyberArk’s increased valuation following the Venafi deal.
Read more in Globes.
