Palo Alto Networks acquires CyberArk for $25 billion

In a landmark deal set to reshape the cybersecurity landscape, Palo Alto Networks announced on Wednesday its intent to acquire identity management and security firm CyberArk for $25 billion. The acquisition, structured as a mix of cash and stock, marks Palo Alto’s most significant foray into the identity security space—an increasingly critical segment of the cybersecurity industry.

The move represents Palo Alto’s largest acquisition to date and continues a years-long buying streak under CEO and Chairman Nikesh Arora, who took the helm in 2018. Since then, the company has reportedly spent over $7 billion on acquisitions, a strategy aimed at broadening its security portfolio and maintaining a competitive edge in a rapidly evolving threat environment.

CyberArk, widely regarded as a leader in identity and access management (IAM), brings with it a robust set of technologies focused on protecting organizations from internal and external threats tied to user access and credentials. The acquisition signals Palo Alto's strategic recognition of identity as the new battleground in cybersecurity, particularly as enterprises shift to hybrid and cloud-based infrastructures.

“This acquisition positions us to address one of the most urgent cybersecurity challenges: securing identities in a perimeterless world,” Palo Alto said in a statement. The company aims to integrate CyberArk’s capabilities into its broader security platform, enhancing its ability to offer end-to-end protection.

This deal is the second-largest cybersecurity acquisition of 2025 so far, trailing only Google’s $32 billion purchase of cloud security firm Wiz in March. It underscores the high-stakes competition among tech giants to dominate the cybersecurity space amid rising cyber threats and increasing regulatory pressures.

Palo Alto's acquisition spree has included several notable purchases in recent years:

• Dig Security (October 2023) for an estimated $400 million, specializing in data security posture management (DSPM),
• Talon Cyber Security (November 2023) for approximately $625 million, known for secure enterprise browsers,
• Bridgecrew (February 2021) for $156 million, focusing on infrastructure as code (IaC) security.

With the acquisition of CyberArk, Palo Alto is not only expanding its technology stack but also making a bold statement about the future direction of cybersecurity—where securing identities is just as crucial as securing networks.

The deal is expected to close pending regulatory approvals and customary closing conditions.