Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, June 7, 2024

Article Excerpt

CYBERARK SOFTWARE LTD., $239.97, symbol CYBR on Nasdaq, is a cybersecurity firm based in Israel. The CyberArk Identity Security Platform enables secure access for any human or machine to resources or environments from anywhere, using any device. The company has over 8,000 customers in 110 countries worldwide. Its customers include more than 50% of the Fortune 500. On May 20, 2024, CyberArk announced that it would acquire Venafi, a provider of machine identity management, from tech investment firm Thoma Bravo. CyberArk will pay $1.54 billion for Venafi. Unlike people, machines don’t use passwords to verify identity. Instead, they use digital certificates to establish identity and authenticity. The most common types of machine identities are TLS/SSL certificates, but there are several others, such as SSH keys and code signing certificates. Every organization needs such identities to decide whether to allow or deny access in order to keep their digital assets secure. Approximately 95% of Venafi’s $158 million in annual revenue is recurring. The firm has…