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CyberArk to Acquire Machine Identity Firm Venafi for $1.54 Billion

CyberArk agreed to acquire machine identity management Venafi from Thoma Bravo for $1.54 billion.

Identity security firm CyberArk (NASDAQ: CYBR) on Monday announced that it has entered a definitive agreement to acquire machine identity management firm Venafi from private equity firm Thoma Bravo.

The deal is valued at approximately $1.54 billion, including roughly $1 billion in cash and approximately $540 million in CyberArk shares. 

Focusing on intelligent privilege controls, Boston-based CyberArk provides human and machine identity security solutions across hybrid, SaaS and multi-cloud environments.

Venafi delivers machine-to-machine connection and communication security and provides organizations with visibility into machine identities across on premises, cloud, virtual, mobile, and IoT environments.

The company also offers automated remediation to reduce the risk associated with weak or compromised machine identities and prevents communication with untrusted systems.

Venafi recently launched a solution to address Google’s proposed 90-day limit for the lifecycle of digital certificates, if and when it comes into effect.

According to CyberArk, the acquisition will allow it to create an enterprise-scale unified platform for end-to-end machine identity security and will expand its total addressable market (TAM) by nearly $10 billion.

The combination of Venafi’s cryptographic code signing, certificate lifecycle management, private PKI, and IoT identity management with its secrets management capabilities will allow CyberArk to protect organizations against machine identity misuse and compromise and to prevent outages.

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Subject to regulatory approvals and customary closing conditions, the acquisition is expected to be completed in the second half of the year.

“By combining forces with Venafi, we are expanding our abilities to secure machine identities in a cloud-first, GenAI, post-quantum world. Our integrated technologies, capabilities and expertise will address the needs of global enterprises and empower Chief Information Security Officers to defend against increasingly sophisticated attacks that leverage human and machine identities as part of the attack chain,” CyberArk CEO Matt Cohen said.

Morgan Stanley and Latham & Watkins served as financial and legal advisors to CyberArk.

Related: Palo Alto Networks Partners With IBM, Acquires QRadar SaaS Assets

Related: Akamai to Acquire API Protection Startup Noname Security for $450 Million

Related: Permira to Acquire Majority Stake in BioCatch at $1.3 Billion Valuation

Related:IBM Acquiring HashiCorp for $6.4 Billion

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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