Identity security company CyberArk shareholders have formally approved the proposed acquisition offer from Palo Alto Networks. This strong endorsement moves the $25 billion CyberArk-Palo Alto Deal closer to completion, marking a significant consolidation event in the defense and government contracting cybersecurity sector.
Approximately 99.8 percent of shareholders voted in favor of the acquisition during a special meeting, solidifying support for the definitive agreement signed in July. The transaction is expected to conclude during the second half of Palo Alto Networks’ fiscal year 2026, pending receipt of regulatory approvals and satisfaction of other customary closing conditions.
Transaction Details and Vision
Under the definitive terms of the agreement, Palo Alto Networks purchases CyberArk in a cash-and-stock transaction valued at approximately $25 billion. CyberArk shareholders will receive $45 in cash plus 2.2005 shares of Palo Alto Networks common stock for each share they hold. Both companies’ boards previously approved the acquisition unanimously, which analysts project will be accretive to Palo Alto Networks’ free cash flow per share by FY 2028.
CyberArk CEO Matt Cohen expressed gratitude for the robust shareholder support, stating that the vote moves the companies closer to realizing a joint vision. Cohen emphasized the goal of uniting the two cybersecurity leaders to “advance our vision of securing every identity—human, machine, and AI—with intelligent privilege controls through a modern platform built for the AI era.”
Advancing Identity Security and AI
This transformative CyberArk-Palo Alto Deal enables Palo Alto Networks to establish identity security as a core strategic pillar within its multiplatform strategy. The combined entity will integrate CyberArk’s privileged access management capabilities with Palo Alto Networks’ existing Cortex and Strata platforms. This integration will deliver identity-aware security and real-time response across customer enterprises, meeting escalating demands from both commercial and federal clients.
Furthermore, the acquisition positions Palo Alto Networks to transition toward security-first privileged access management principles. Crucially, the deal focuses on securing the emerging wave of autonomous artificial intelligence agents, delivering essential identity security tailored for agentic AI that is increasingly deployed across defense and critical infrastructure networks.
