Of the $1.54 billion purchase price, $1 billion will be paid in cash and the remaining $540 million will be paid in CyberArk shares.
CyberArk, a cybersecurity company focused on eliminating cyber threats before they impact business operations, has announced an important acquisition. According to the information shared by CyberArk, the company will acquire Venafi, which focuses on providing secure machine-to-machine communication.
CyberArk will acquire Venafi from Thoma Bravo. To remind you, Thoma Bravo acquired Venafi in 2020 for 1.2 billion dollars. According to the agreement between CyberArk and Thoma Bravo, CyberArk will pay Thoma Bravo $1.54 billion to acquire Venafi.
Of the $1.54 billion purchase price, $1 billion will be paid in cash and the remaining $540 million will be paid in CyberArk shares. The acquisition agreement between CyberArk and Thoma Bravo is expected to be completed in the second half of 2024. Let’s add that CyberArk shares rose by 2.3 percent with the sharing of the acquisition news.
Founded in 2004 by Jayson Seegmiller in the US, Venafi provides security for machine identity types by issuing cryptographic keys and digital certificates for mobile and IoT. CyberArk aims to address a larger market by acquiring Venafi.
Commenting on the acquisition, CyberArk CEO Matt Cohen shared that by joining forces with Venafi, they are expanding their ability to secure machine identities in a cloud-first and post-quantum world. Let us remind you that CyberArk has been on a successful track for a long time. In the first quarter of the year, the company increased its revenues by 37 percent to 221.6 million dollars.
