CyberArk, a leading provider of identity security solutions, has expanded its capabilities through the acquisition of Zilla Security for a sum of up to $175 million.
Founded in 1999, CyberArk has established a strong presence in privileged access management, safeguarding sensitive data and critical systems from both external and internal threats. Zilla Security, established in 2019, complements CyberArk’s offerings with its innovative identity governance and administration (IGA) platform.
Zilla’s cloud-native approach, enhanced by automation and AI, makes it an ideal complement to CyberArk’s legacy solutions. This acquisition enables CyberArk to bolster its product suite with cloud-centric tools powered by artificial intelligence, enabling seamless integrations in hybrid and multi-cloud environments.
CyberArk’s financial performance has been on an upswing. Since its 2014 Nasdaq debut, the company’s shares have witnessed a 41% surge, translating to an all-time high valuation exceeding $18 billion. Its recent Q4 results showcased an impressive 41% revenue growth, with subscription revenue alone witnessing a 62% increase. Notably, its annual recurring revenue (ARR) has surpassed the $1 billion milestone.
Original source: Read the full article on TechCrunch
