CyberArk Software Ltd. (NASDAQ:CYBR) inked a deal to acquire Venafi from Thoma Bravo for an enterprise value of $1.54 billion. The acquisition value includes around $1 billion in cash and about $540 million in shares. The transaction is expected to close in the second half of 2024, subject to customary closing conditions. Post closure, the company expects Venafi to add around $150 million in annual recurring revenue (ARR). Also, Venafi is projected to bring a strong business model, with 95% in recurring revenue, including SaaS and Term Based License Revenue. The transaction is anticipated to be accretive to margins immediately, with significant revenue synergies ...