---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-168821"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2025-07-30T23:59:59+00:00"
generated_at: "2026-05-17T22:54:39.131081+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks to acquire CyberArk for ~$25B; $45 cash + 2.2005 PANW shares per CYBR share

## Summary
- Equity value ~$25B for CyberArk; 26% premium to unaffected 10-day VWAP of $380.17 as of July 25, 2025.
- Consideration: $45.00 cash + 2.2005 PANW shares per CYBR share.
- Expected to close in H2 FY2026, subject to regulatory clearances and CyberArk shareholder vote.
- Combined platform to deliver Identity Security across human, machine, and AI agent identities.
- Transaction immediately accretive to PANW revenue growth and gross margin; FCF per share accretive in FY2028.

## SEC filing metadata
- accession: 0001193125-25-168821
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2025-07-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312525168821/0001193125-25-168821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312525168821/d67702d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-168821
- JSON: https://secwatch.observer/filing/0001193125-25-168821.json
- Plain text: https://secwatch.observer/filing/0001193125-25-168821.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.