CyberArk has acquired Zilla Security for $165 million. It also increased its revenue by 33 percent in 2024 over the previous year, notching up over 1 billion dollars as a result. Thus, the security market is consolidating further still, and CyberArk is now worth nearly $20 billion.
The projected revenue for the new year is even more impressive: $1.3 billion. Once again, that would mean a roughly one-third increase in revenue over 2024. CyberArk owes the explosive increases to the move to a subscription basis for their solution. The subscriber customer base generated $977 million last year, up 68 percent from 2023.
Zilla Security specializes in Modern Identity Governance (IGA), aimed at hybrid environments and available on a SaaS basis. Identity compliance, provisioning and security policies should be automated as much as possible through Zilla. The automation tooling is claimed to let customers deploy five times faster with less effort and far fewer ITSM tickets. The company also claims that the proprietary solution can be deployed in IT environments without too much expertise.
M&As, M&As, M&As
Within the field of IT security, M&As have come thick and fast over the past year or so. In 2025, it has already become clear that consolidation is seen as the best path to take for many and the proliferation of point solutions is proving to be less sustainable than ever before. Security parties are also regularly consolidating their own offerings, as Check Point recently announced it was doing by integrating with Wiz’s CNAPP solution and replacing its own to facilitate it.
CyberArk also made an acquisition in 2024: Venafi. That company was considerably pricier at $1.5 billion and added the concept of machine identity to CyberArk’s toolbox. We wrote extensively in the middle of last year about the expansion of its PAM solution thanks to the Venafi acquisition, which is now complete:
Read more: CyberArk extends PAM solution to machine identities
Thoma Bravo wins big money
CyberArk has turned a profit for others as well. Private equity Thoma Bravo sold $372 million of its shares after CyberArk experienced a big share price increase back in December. Had they not done so, the dividend might have been even larger now. Since early 2025, CyberArk’s share price is up another 12.74 percent at the time of writing.