Author: Christine Thropp|| Date Published: May 21, 2024
Identity security company CyberArk (Nasdaq: CYBR) will acquire machine identity management company Venafi from Thoma Bravo for an enterprise value of approximately $1 billion in cash and approximately $540 million in shares.
CyberArk said Monday it plans to create a unified platform for end-to-end machine identity security by combining its identity security capabilities with the machine identity management offerings of Venafi following the completion of the acquisition, which is expected in the second half of 2024.
“By combining forces with Venafi, we are expanding our abilities to secure machine identities in a cloud-first, GenAI, post-quantum world,” remarked Matt Cohen, CEO of CyberArk. “Our integrated technologies, capabilities and expertise will address the needs of global enterprises and empower chief information security officers to defend against increasingly sophisticated attacks that leverage human and machine identities as part of the attack chain.”
For the transaction, CyberArk has Morgan Stanley & Co. as exclusive financial adviser and Latham & Watkins as legal counsel. Meanwhile, Thoma Bravo selects Piper Sandler as its exclusive financial adviser and Kirkland & Ellis as legal counsel.
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