CyberArk, tech firm with US headquarters in Newton, bought for $25 billion
Shares of CyberArk had gained 30% this year, giving it a market value of more than $21 billion. That increase includes the 13% jump on Tuesday. The stock was little changed before markets opened on Wednesday. Shares of Palo Alto fell 5.9%.
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Cybersecurity providers are becoming more acquisitive, with some looking to offer a full platform of products to customers that are seeking to save money by reducing vendors. Alphabet Inc. agreed to buy the cyber startup Wiz this year for $32 billion to add to its Google Cloud business. In April, Palo Alto announced plans to buy the startup Protect AI, which specializes in securing AI and machine learning applications and models.
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JPMorgan Chase & Co. advised Palo Alto and Qatalyst Partners advised CyberArk.
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