July 29 (Reuters) - Palo Alto Networks ( PANW ) is in
talks to acquire CyberArk Software in a deal that could
value the Israeli cybersecurity firm at more than $20 billion,
the Wall Street Journal reported on Tuesday, citing people
familiar with the matter.
Shares in CyberArk rose about 13%, while Palo Alto Networks' ( PANW )
stock fell roughly 2%. The companies did not immediately respond
to requests for comment from Reuters.
Cybersecurity deal activity has been robust in recent years
as large corporations have increased spending on security tools.
Rising competition among all-in-one cybersecurity
platforms has reshaped the industry, making several companies
attractive takeover targets for larger rivals and private equity
firms.
As of Monday's close, CyberArk had a market
capitalization of $19.3 billion, according to LSEG data.