CyberArk called privileged accounts the keys to the IT kingdom. These are the admin logins that control servers, factory systems and the most sensitive data. An attacker who steals one can take over a company from the inside. In September 2014 the Israeli company went public with a simple pitch: firewalls fail, so guard the keys. It sold 5.36 million shares at $16, raising about $85.8 million.

Assume the Attacker Is In

CyberArk started in 1999 in Israel. Udi Mokady, a founder, was chief operating officer from 1999 and became chief executive in 2005. Most security companies tried to keep attackers out. CyberArk built a new layer for attacks that had already gotten past the network perimeter. Its software locked away privileged accounts, watched how they were used, and flagged misuse. It ran headquarters in Petach Tikva, Israel, and a U.S. base in Newton, Massachusetts.

Palo Alto Networks Buys the Vault

CyberArk priced its IPO at $16 a share in September 2014 and listed on the Nasdaq Global Select Market as CYBR. Identity security grew into a large market, and CyberArk grew with it. In July 2025 Palo Alto Networks agreed to buy the company. The deal closed on February 11, 2026. Each CyberArk share became $45 in cash plus 2.2005 Palo Alto Networks shares, and CyberArk left Nasdaq.

Cover: God Commanding Noah to Build the Ark, Marco Dente da Ravenna. Art Institute of Chicago, public domain. Chosen for Noah building the ark (CyberArk, a safe vessel).