Palo Alto Networks to acquire CyberArk in $25 billion deal.

 Palo Alto Networks

 will take over Israeli identity security provider CyberArk

 in a deal valued at roughly $25 billion.

The California-based cybersecurity company will pay shareholders $45 apiece for 2.2005 shares of CyberArk, representing a 26% premium to its share price Friday. The deal is expected to close during Palo Alto Networks’ fiscal year 2026.

Shares of Palo Alto fell more than 7% before the bell Wednesday, building on a 5% loss from Tuesday. CyberArk’s stock dipped 2%.

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now,” Palo Alto CEO and chairman Nikesh Arora said in a release Wednesday.

Blockbuster cybersecurity deals have been a force in the mergers and acquisitions market in 2025 after a relatively slow period for dealmaking. In March, Google shelled out $32 billion for cloud security startup Wiz in its biggest acquisition ever.

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