CyberArk Software Ltd. has announced an agreement under which it will merge with a subsidiary of Palo Alto Networks (PANW), becoming a wholly owned subsidiary of PANW. Under the terms of the agreement, CyberArk shareholders, excluding certain holders as specified in the merger agreement, will receive 2.2005 shares of PANW common stock and $45.00 in cash per CyberArk ordinary share. The transaction was approved by the CyberArk board of directors, who have recommended that shareholders approve the merger agreement and related proposals. The announcement was made by CyberArk Software Ltd.
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