$60B TAM Target: CyberArk Bolsters Machine Identity Solutions With Venafi Acquisition
$60B TAM Target: CyberArk Bolsters Machine Identity Solutions With Venafi Acquisition
CyberArk Software Ltd. (NASDAQ:CYBR) inked a deal to acquire Venafi from Thoma Bravo for an enterprise value of $1.54 billion.
CyberArk Software Ltd.（納斯達克股票代碼：CYBR）簽署了一項協議，以15.4億美元的企業價值從托馬·布拉沃手中收購Venafi。
The acquisition value includes around $1 billion in cash and about $540 million in shares. The transaction is expected to close in the second half of 2024, subject to customary closing conditions.
收購價值包括約10億美元的現金和約5.4億美元的股票。該交易預計將於2024年下半年完成，但須遵守慣例成交條件。
Post closure, the company expects Venafi to add around $150 million in annual recurring revenue (ARR). Also, Venafi is projected to bring a strong business model, with 95% in recurring revenue, including SaaS and Term Based License Revenue.
該公司預計關閉後，Venafi將增加約1.5億美元的年度經常性收入（ARR）。此外，預計Venafi將帶來強大的商業模式，其經常性收入爲95％，包括SaaS和基於期限的許可收入。
The transaction is anticipated to be accretive to margins immediately, with significant revenue synergies through cross-sell, up-sell, and geographic expansion.
預計該交易將立即增加利潤，並通過交叉銷售、向上銷售和地域擴張實現顯著的收入協同效應。
The company anticipates Venafi bringing complementary capabilities to protect machine identities and boosting the Total Addressable Market (TAM) from $50 billion to $60 billion.
該公司預計，Venafi將提供互補的功能來保護機器身份，並將總可尋址市場（TAM）從500億美元提高到600億美元。
Matt Cohen, Chief Executive Officer, said, "By combining forces with Venafi, we are expanding our abilities to secure machine identities in a cloud-first, GenAI, post-quantum world. Our integrated technologies, capabilities and expertise will address the needs of global enterprises and empower Chief Information Security Officers to defend against increasingly sophisticated attacks that leverage human and machine identities as part of the attack chain."
首席執行官馬特·科恩表示：“通過與Venafi聯手，我們正在擴展我們在雲優先、GenAI、後量子世界中保護機器身份的能力。我們的綜合技術、能力和專業知識將滿足全球企業的需求，使首席信息安全官能夠抵禦越來越複雜的攻擊，這些攻擊利用人類和機器身份作爲攻擊鏈的一部分。”
Chip Virnig, a Partner at Thoma Bravo, stated, "Over the course of our investment, Venafi has accelerated SaaS growth, expanded margins, and successfully created a best-in-class SaaS offering, setting the stage for continued innovation. We believe CyberArk is a great partner for Venafi and that the scaled end-to-end machine identity security platform created by this strategic combination will deliver significant value to shareholders."
Thoma Bravo的合夥人奇普·維爾尼格表示：“在我們的投資過程中，Venafi加速了SaaS的增長，擴大了利潤率，併成功創建了同類最佳的SaaS產品，爲持續創新奠定了基礎。我們相信CyberArk是Venafi的絕佳合作伙伴，這種戰略組合創建的擴展型端到端機器身份安全平台將爲股東帶來可觀的價值。”
CyberArk held $1.4 billion in cash and equivalents as of March-end.
截至3月底，CyberArk持有14億美元的現金及等價物。
CyberArk Software stock gained over 62% in the last 12 months. Investors can gain exposure to the stock via First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR) and IShares Cybersecurity And Tech ETF (NYSE:IHAK).
在過去的12個月中，CyberArk Software的股票上漲了62％以上。投資者可以通過第一信託納斯達克網絡安全ETF（納斯達克股票代碼：CIBR）和iShares網絡安全與科技ETF（紐約證券交易所代碼：IHAK）獲得股票敞口。
Price Action: CYBR shares are up 0.54% at $247.66 at the last check Monday.
價格走勢：在週一的最後一次檢查中，CYBR股價上漲0.54％，至247.66美元。
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照片來自 Shutterstock