Thoma Bravo selling CyberArk stake for $370m

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The US investment firm became a party-at-interest in the Israeli cybersecurity company earlier this year when it sold Venfai to it for $1.54 billion in a cash and share deal.

The share price of CyberArk (Nasdaq: CYBR) fell 1.3% on Friday after US investment fund Thoma Bravo put over 1.14 million shares up for sale. Thoma Bravo became a party-at-interest in the Israeli cybersecurity company earlier this year when it sold Venfai to it for $1.54 billion in a cash and share deal. At CyberArk's current share price, Thoma Bravo is selling shares for $370 million. Bank of America is acting as underwriter in the offering.

CyberArk, led by CEO Matt Cohen, was founded by executive chairman Udi Mokady and Alon Cohen in 1999, and held its Nasdaq IPO in 2014. The company manages privileged accounts and identity management in organizations, and expanded the market in which it operates through the recent acquisition of Venafi, which is engaged in machine identity management.

CyberArk's share price has risen 47.6% in 2024 giving a market cap of $14.1 billion, making it the fourth most valuable Israeli company traded on Wall Street after Check Point, Teva, and monday.com.

Published by Globes, Israel business news - en.globes.co.il - on December 9, 2024

CyberArk CEO and chairman Matt Cohen and Udi Mokady