Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

Business

Cybersecurity company CyberArk to acquire Venafi in $1.5 bln deal

Follow on
Follow us on Google News
 

(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.