CyberArk buys cybersecurity company Venafi for $1.54 billion

A cybersecurity company focused on eliminating cyber threats before they impact business operations. CyberArkannounced that it will make an important acquisition. According to the information shared by CyberArk, the company focuses on providing secure communication between machines. Come onbuy receivable.

CyberArk, Venafi Thomas BravoWill buy from. As a reminder, Thoma Bravo purchased Venafi for 1.2 billion dollars in 2020. According to the agreement between CyberArk and Thoma Bravo, CyberArk will acquire Venafi from Thoma Bravo. will pay 1.54 billion dollars.

$1.54 billion acquisition fee $1 billion in cash and the remaining $540 million in CyberArk shares Let us also add that it will be paid in the form of The acquisition agreement between CyberArk and Thoma Bravo is expected to be completed in the second half of 2024. With the sharing of the acquisition news, CyberArk shares increased.increased by 2.3 percent Let’s add as well.

in 2004 Jayson Seegmiller Founded in the US by Venafi, it provides security for machine identity types by issuing cryptographic keys and digital certificates for mobile and IoT. By acquiring Venafi, CyberArk aims to appeal to a larger market.

Making statements regarding the purchase CyberArk CEO’su 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 also remind you that CyberArk has been successful for a long time. The company increased its revenues by 37 percent to 221.6 million dollars in the first quarter of the year.