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CyberArk stock price increase by 10% post-Venafi acquisition by Q3 2024?
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CyberArk Acquires Venafi for $1.54 Billion in Largest Deal This Year
May 20, 2024, 05:14 PM
CyberArk Software has announced its acquisition of Utah-based cybersecurity company Venafi for $1.54 billion in cash and stock on Monday. This acquisition, the largest in CyberArk's 25-year history, aims to enhance its machine-to-machine security capabilities. Venafi, a machine identity management firm, was previously acquired by private equity firm Thoma Bravo for $1.15 billion in 2020. CyberArk CEO Matt Cohen highlighted the strategic fit of Venafi's solutions with CyberArk's secrets management approach, describing the deal as an unmissable opportunity. The acquisition is also noted as the largest deal this year for a private cybersecurity company.
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