Arnold & Porter Advises Palo Alto Networks on $25 Billion Agreement to Acquire CyberArk

Arnold & Porter recently advised Palo Alto Networks, a global cybersecurity leader, as regulatory counsel in its definitive agreement to acquire CyberArk, a global leader in Identity Security.

The transaction is valued at approximately $25 billion in cash and stock, and it will establish Identity Security for agentic artificial intelligence as a core pillar of Palo Alto Networks’ strategy.

The acquisition comes as the Identity Security market reaches a critical juncture, driven by the proliferation of AI and the growing number of machine-based digital identities that require protection.

The deal is expected to close in the second half of Palo Alto Networks’ 2026 fiscal year.

The Arnold & Porter team was led by partners Jonathan Gleklen and Axel Gutermuth.