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Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

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Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

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(Reuters) - CyberArk said on Monday it will acquire cybersecurity firm Venafi from equity firm Thoma Bravo in a deal valued at around $1.54 billion.

The firm will acquire Venafi in a combination of $1 billion in cash and around $540 million in stock and expects the deal to close in the second half of 2024.

Venafi is also expected to add around $150 million in annual recurring revenue and will be accretive to CyberArk's margins immediately, the company said.