Palo Alto Networks Completes $25B CyberArk Acquisition
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Palo Alto Networks finalized its $25 billion acquisition of CyberArk on February 11, 2026. The deal integrates CyberArk’s identity security platform into Palo Alto’s ecosystem. Company leaders call it essential protection against AI-driven threats.
Machine identities now outnumber human ones by over 80 to 1. Nearly 90% of enterprises faced identity-related breaches last year. Credential abuse ranks as the top attack vector across industries.
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CyberArk serves thousands of global customers with privileged access management. The acquisition extends these controls to all identities including AI agents. Palo Alto promises no disruptions for existing CyberArk users during integration.
Strategic Impact
Palo Alto eliminates identity silos across hybrid cloud environments. Customers gain unified security linking network protection with identity controls. The combined platform accelerates breach response by up to 80% through reduced standing privileges.
Nikesh Arora, Palo Alto CEO, stated the timing matches rising AI agent adoption. “We must secure every identity, human, machine, and agent,” he emphasized in the official announcement. Matt Cohen, CyberArk CEO, highlighted combined innovation against identity attacks.
Shareholders received $45 cash plus 2.2005 Palo Alto shares per CyberArk share. This marks Palo Alto’s largest acquisition ever. CyberArk gains secondary listing on Tel Aviv Stock Exchange under CYBR ticker.
Acquisition Details
| Company | Role | Deal Value |
|---|---|---|
| Palo Alto | Acquirer | $25 billion |
| CyberArk | Target | Identity leader​ |
Transaction Structure:
- $45 cash per share
- 2.2005 Palo Alto shares per share
- Tel Aviv secondary listing retained
Market Context
Identity attacks surged 75% in 2025 per industry reports. Outdated privilege models persist in most organizations. AI agents introduce new unmanaged identities requiring real-time controls.
Palo Alto serves 70,000 customers through AI-powered platforms. Unit 42 threat intelligence guides integrated defenses. CyberArk strengthens position across network, cloud, and identity domains.
Q2 FY2026 earnings call scheduled for February 17 at 1:30 p.m. PT. Investors expect details on integration timeline and revenue synergies. Analysts predict accelerated growth in identity security segment.
Customer Benefits
- Unified management across all identity types.
- Reduced standing privileges enterprise-wide.
- Faster breach detection through integrated telemetry.
- Continued standalone CyberArk availability.
- Enhanced AI agent security controls.
Competitive Landscape
| Vendor Category | Key Players |
|---|---|
| Network Security | Palo Alto, Fortinet |
| Cloud Security | Zscaler, Netskope |
| Identity | Okta, SailPoint, CyberArk​ |
Combined entity leads across five security pillars. Platformization trend favors integrated vendors over point solutions. Customers consolidate spending on unified providers.
Nikesh Arora, Palo Alto CEO: “Emerging AI agents require securing every identity. This acquisition ends silos for trusted end-to-end protection.”
FAQ
$25 billion in cash and stock announced February 11, 2026.
$45 cash + 2.2005 Palo Alto shares per CyberArk share.
Yes, available separately during integration process.
Machine identities outnumber humans 80:1 with 90% breach rate.
Q2 FY2026 earnings February 17, 1:30 p.m. PT.
Secondary listing retained under CYBR ticker.
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