The US investment firm became a party to the Israeli cybersecurity company’s interest earlier this year when it sold Venfai to it for $1.54 billion in a cash and stock deal.
Share price Cyber arc (Nasdaq: CYBR) stock fell 1.3% on Friday after US investment fund Thoma Bravo offered more than 1.14 million shares for sale. Toma Bravo became a party to the Israeli cybersecurity company’s interest earlier this year when it sold its company Venfai for $1.54 billion in a cash and stock deal. At CyberArk’s current share price, Thoma Bravo is selling shares for $370 million. Bank of America is acting as the guarantor of the offering.
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CyberArk pays $1.45 billion to US company Venafi
CyberArk, led by CEO Matt Cohen, was founded by CEO Udi Makadi and Alon Cohen in 1999, and held an IPO on the Nasdaq in 2014. The company manages privileged accounts and identity management in enterprises, and expanded the market in which it operates with its recent acquisition On Venafi, which works in the field of machine identity management.
CyberArk’s stock price rose 47.6% in 2024 giving a market value of $14.1 billion, making it the fourth largest Israeli company traded on Wall Street after Check Point, Teva and monday.com.
Published by Globes, Israel Business News – en.globes.co.il – on December 9, 2024
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CyberArk CEO and Chairman Matt Cohen and Udi Makadi