Shareholders at identity security company CyberArk have approved Palo Alto Networks’ proposed acquisition offer.
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CyberArk said Thursday the transaction is expected to conclude during the second half of Palo Alto Networks’ fiscal year 2026, pending receipt of regulatory approvals and satisfaction of other customary closing conditions.
Approximately 99.8 percent of CyberArk shareholders voted in favor of the acquisition proposal at a special meeting held Thursday.
CyberArk CEO Matt Cohen expressed gratitude for shareholder support.
“Today, we move one step closer to bringing together two cybersecurity leaders to advance our vision of securing every identity — human, machine, and AI — with intelligent privilege controls through a modern platform built for the AI era,” Cohen said.
What Does the Deal Between CyberArk & Palo Alto Networks Entail?
In July, cybersecurity company Palo Alto Networks signed a definitive agreement to acquire CyberArk in a cash-and-stock transaction valued at approximately $25 billion.
Under the terms of the deal, CyberArk shareholders will receive $45 in cash plus 2.2005 shares of Palo Alto Networks common stock per share. Both companies’ boards unanimously approved the acquisition, which is expected to be accretive to Palo Alto Networks’ free cash flow per share by FY 2028.
The proposed acquisition will enable Palo Alto to establish identity security as a core pillar of its multiplatform strategy and integrate CyberArk’s capabilities with its Cortex and Strata platforms to deliver identity-aware security and real-time response across the enterprise.
Through the deal, Palo Alto Networks will transition to security-first privileged access management principles and help secure the new wave of autonomous artificial intelligence agents by delivering identity security for agentic AI.
