Thoma Bravo cashes in with $372M sale of CyberArk shares after stock surge
Thoma Bravo cashes in with $372M sale of CyberArk shares after stock surge
Private equity giant trims its stake in Israeli cybersecurity company, capitalizing on a sharp rise in share value since the Venafi acquisition, which resulted in Thoma Bravo receiving CyberArk shares.
The American private equity firm Thoma Bravo sold 1.142 million shares of the Israeli company CyberArk last Thursday for $372 million.
The sale was made in a secondary offering on Nasdaq to American entities and at a price of $326 per share. In total, 2.7% of CyberArk's shares were sold.
Thoma Bravo received the shares as part of the sale of Venafi to CyberArk in May in a deal valued at $1.54 billion.
The firm acquired Venafi in a combination of $1 billion in cash and around $540 million in stock. The deal combined Venafi’s machine identity management capabilities with CyberArk’s identity security capabilities, with the aim of establishing a unified platform for end-to-end machine identity security at enterprise scale.
Thoma Bravo sold half of the shares it received in the deal. The value of the shares the firm received as part of the transaction was $540 million at the time, but due to the increase in CyberArk’s stock price since then, their value has risen to $750 million.
Cyberark is currently trading at a value of around $14 billion.
