CyberArk acquires Venafi for $1.54B in a cash and stock deal to create a unified platform for machine identity security.
CyberArk, a leading cybersecurity firm, agreed to acquire Venafi, a machine identity management company, for $1.54 billion in a cash and stock deal. The acquisition aims to combine CyberArk's leading identity security capabilities with Venafi's best-in-class machine identity management offerings, creating a unified platform for end-to-end machine identity security at enterprise scale. Upon completion, Venafi is predicted to contribute around $150 million in annual recurring revenue and will have an immediate positive impact on CyberArk's margins. The deal is expected to close in the second half of 2024, subject to regulatory approvals, clearances, and other customary closing conditions. The acquisition will expand CyberArk's total addressable market by nearly $10 billion to approximately $60 billion.