CyberArk Software Ltd. (CYBR)

CyberArk Software Ltd. was founded in 1999 by Alon Cohen and Udi Mokady and is based in Petah Tikva, Israel, with a major U.S. presence in the Boston area. It was an early developer of privileged access management software, which protects the powerful credentials used by administrators, applications and systems to reach critical infrastructure.

Over time the company broadened its portfolio from vaulting and session monitoring for privileged accounts into a wider identity security platform. Its products addressed privileged access, endpoint privilege management, cloud entitlements, workforce and customer identity services such as single sign-on and multi-factor authentication, and secrets management for applications and cloud-native environments.

CyberArk sold through a direct sales force and a network of distributors, system integrators, resellers and managed security service providers. Its customers included organizations in financial services, healthcare, energy, retail, technology, telecommunications, manufacturing and government. The company moved from perpetual licenses toward subscription and SaaS revenue.

CyberArk completed its initial public offering on Nasdaq in September 2014 under the symbol CYBR. It grew through acquisitions that included Conjur, a secrets management company, Idaptive, an identity-as-a-service provider, and Venafi, a machine identity management company that it acquired from Thoma Bravo in 2024. A further acquisition of Zilla Security followed in 2025.

In July 2025, Palo Alto Networks announced an agreement to acquire CyberArk in a transaction valued at roughly $25 billion. Palo Alto Networks, a major network and cloud security company, intended to add identity security to its platform. The agreement provided for each CyberArk share to be exchanged for $45.00 in cash and 2.2005 shares of Palo Alto Networks common stock.

Palo Alto Networks announced completion of the acquisition on February 11, 2026. CyberArk became a subsidiary of Palo Alto Networks, and its ordinary shares were removed from Nasdaq following a Form 25. Palo Alto Networks shares, which are listed on Nasdaq and are also available on the Tel Aviv Stock Exchange, replaced CyberArk shares in the hands of former shareholders.

The deal combined Palo Alto Networks' network, cloud and security operations platforms with CyberArk's identity security offerings, which Palo Alto Networks described as a response to the growing role of machine and human identities in cyberattacks. CyberArk's founders and long-time employees, many based in Israel, became part of the larger group. Former holders now hold Palo Alto Networks stock and received cash for the rest of their consideration. Because part of the consideration was Palo Alto Networks stock, the value of the transaction to former holders varied with that company's share price between signing and closing.