CyberArk is set to purchase machine identity management provider Venafi for $1.54 billion, aiming to create a comprehensive machine identity security platform by integrating Venafi's capabilities with CyberArk's secrets management technology. The acquisition is expected to expand CyberArk's total addressable market by 20% to approximately $60 billion
Venafi, founded in 2004 with over 440 employees and 550+ customers, focuses on securing machine identities crucial in modern cyberattacks. The acquisition will add $150 million in annual recurring revenue to CyberArk. With the increasing number of machine identities due to cloud computing and AI advancements, the deal aims to provide modern tools for managing certificates and securing machine identities across various sectors, such as financial services, retail, and aviation. ```https://www.bankinfosecurity.com/cyberark-to-secure-machine-identities-154b-venafi-buy-a-25272