Palo Alto Networks Buying CyberArk in $25B Deal
Security company Palo Alto Networks announced Wednesday an agreement to buy Israeli identity security provider CyberArk for $25 billion in cash and stock. Palo Alto Chairman and CEO Nikesh Arora said on CNBC’s Squawk on the Street that the deal…
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will strengthen his company's ability to prevent AI-based identity theft, noting that about 88% of ransomware attacks are driven by credential theft, and “identity is an unsolved problem.” Palo Alto viewed CyberArk as the “strongest player” in the space, he said.