Palo Alto Networks inks $25b deal to buy identity-security shop CyberArk

Palo Alto Networks announced a $25 billion cash-and-stock acquisition of CyberArk to bolster its platform strategy by adding identity security and privileged access management amid a surge in AI and machine identities; CyberArk shareholders will receive $45 in cash and 2.2005 PANW shares per CYBR share, with the deal expected to close in the second half of PANW’s fiscal 2026, and analysts noting it fills a key gap alongside PANW’s cloud, network, and endpoint offerings.