Palo Alto Networks said it entered into an Agreement and Plan of Merger with CyberArk Software Ltd. and its subsidiary Athens Strategies Ltd. on July 30, 2025. Merger Sub will merge with and into CyberArk, with CyberArk continuing as the surviving corporation and a wholly owned subsidiary of the company.

1. 01

   Palo Alto Networks said it entered into an Agreement and Plan of Merger with CyberArk Software Ltd. and its subsidiary Athens Strategies Ltd. on July 30, 2025. Merger Sub will merge with and into CyberArk, with CyberArk continuing as the surviving corporation and a wholly owned subsidiary of the company.

2. 02

   The company said the parties received early termination of the HSR Waiting Period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on September 24, 2025. This was one of the conditions to the completion of the merger.

3. 03

   Palo Alto Networks said the closing of the merger remains subject to the receipt of the remaining required regulatory clearances and approvals, the approval of the Merger Agreement and the Merger by CyberArk shareholders, and other customary closing conditions.

4. 04

   The company said it filed a Form S-4 registration statement with the SEC on September 12, 2025 in connection with the transaction. The registration statement includes a proxy statement of CyberArk that also constitutes a prospectus of the company's common shares to be offered in the transaction.

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