Palo Alto Networks is reported to plan to acquire CyberArk for over $20 billion, with the latter's stock price soaring by 12%
According to a report by The Wall Street Journal citing informed sources, American cybersecurity company Palo Alto Networks (PANW.US) is in acquisition talks with Israeli cybersecurity company CyberArk Software (CYBR.US), with a deal valuation potentially exceeding $20 billion.
Driven by the news, CyberArk's stock price rose by about 12% on Tuesday, while Palo Alto Networks fell by about 3%.
According to data from the London Stock Exchange Group, as of the close of trading on Monday, CyberArk's market capitalization was approximately $19.3 billion
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