Palo Alto Networks

Money Moves

Acquiring CyberArk for $25 billion, expected close early 2026

ServiceNow just agreed to pay $7.75 billion in cash for Armis, a cybersecurity startup that tracks vulnerabilities across hospital medical devices, factory equipment, and corporate networks. It's ServiceNow's largest acquisition ever—and its third billion-dollar security buy in 2025 alone. CEO Bill McDermott calls it building an "AI control tower" for cybersecurity, while Wall Street calls it a land grab.

Updated May 16