Kirkland & Ellis advised Thoma Bravo and its portfolio company Venafi, a leader in machine identity management, on the sale of Venafi to identity security company CyberArk. CyberArk intends to acquire Venafi for an enterprise value of approximately $1.54 billion in a combination of cash and CyberArk shares (approximately $1 billion in cash and approximately $540 million in shares). The transaction is expected to close in the second half of 2024, subject to required regulatory approvals, clearances and other customary closing conditions.
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