May 20 (Reuters) - CyberArk said on Monday it will acquire cybersecurity firm Venafi from equity firm Thoma Bravo in a deal valued at around $1.54 billion.
The firm will acquire Venafi in a combination of $1 billion in cash and around $540 million in stock, and expects the deal to close in the second half of 2024.
Venafi is also expected to add around $150 million in annual recurring revenue and will be accretive to CyberArk's margins immediately, the company said. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Vijay Kishore)
