Palo Alto to dual list in Tel Aviv after closing $25 billion CyberArk deal
Palo Alto Networks will dual list its shares on the Tel Aviv Stock Exchange following the completion of its $25 billion acquisition of CyberArk Software, the company confirmed on Thursday.
The Nasdaq listed cybersecurity giant said its shares will trade in Tel Aviv under the ticker symbol CYBR. While a listing date has not yet been disclosed, the move will make Palo Alto the largest company by market capitalisation on the TASE, given its current valuation of approximately $115 billion.
In a statement to Reuters, Palo Alto described the listing as “a powerful tribute to CyberArk’s Israeli roots and our commitment to the local tech ecosystem.”
“It allows local institutional and retail investors easier access to Palo Alto’s shares and further integrates us into the fabric of Israel’s economy,” the company said.
Acquisition strengthens Israeli footprint
The dual listing follows the formal completion of the CyberArk acquisition on Wednesday, the largest deal in Palo Alto’s history. Under the terms of the agreement, CyberArk shareholders will receive $45 in cash and 2.2005 shares of Palo Alto Networks common stock for each CyberArk ordinary share.
Palo Alto said maintaining the CYBR ticker in Tel Aviv signals that CyberArk’s identity remains central to its global strategy, despite becoming part of the larger US based group.
The deal significantly expands Palo Alto’s Israeli research and development operations, which are already its largest outside Silicon Valley. Chief executive Nikesh Arora has been positioning the company to become a comprehensive cybersecurity platform capable of meeting surging demand driven by artificial intelligence and cloud adoption.
Market reaction in Israel
The Tel Aviv Stock Exchange welcomed the move, calling it a “significant milestone for our capital market and a moment of immense pride.”
“This dual listing will unlock streamlined, efficient access for the Israeli public, allowing local investors to participate directly in Palo Alto Networks’ continued global success,” the exchange said in a statement.
The development comes as other Israeli cybersecurity players assess their own listing strategies. Earlier on Thursday, Check Point Software Technologies indicated it would remain solely listed on Nasdaq.
Palo Alto’s expansion into Tel Aviv underscores Israel’s enduring importance in the global cybersecurity ecosystem, particularly as AI driven threats accelerate investment in digital defence capabilities worldwide.
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