Zilla Security Announces Acquisition by CyberArk

Zilla’s innovative, AI-powered IGA capabilities will expand CyberArk’s industry-leading Identity Security Platform with scalable automation that enables accelerated identity compliance and provisioning across digital environments, while maximizing security and operational efficiency. Under the terms of the agreement, CyberArk has acquired Zilla Security for an enterprise value of $165 million in cash and a $10 million earn-out tied to the achievement of certain R&D milestones.

In the announcement of the acquisition, Zilla Security CEO and co-founder Deepak Taneja said, “What worked 20 years ago clearly doesn’t work today. Zilla represents a fundamental shift in how organizations can manage identity governance and administration. By harnessing the power of AI, we’ve automated IGA, making it simpler, faster and more cost-effective. And now with CyberArk, we’ll be offering our breakthrough technology as part of the broader CyberArk Identity Security Platform, reaching many more customers on a global level.”

The Gunderson Dettmer team was co-led by corporate partner Randall Clark and M&A partner John Olson and included M&A partner Jenn Sayles Okorn, corporate associates Tuca Bihari, Michael Santos and Jaime Lacson, strategic transactions and licensing partner Aliya Sanders and associate David Koenig, tax partner Jace Clegg and associate Tina Xu, executive compensation partner Emily Cabrera and associate Sofia Rattes, regulatory partner Gregory Kinzelman, employment and labor counsel Jeff Salomon and data privacy associate Cecilia Jeong.

Companies
Zilla Security
CyberArk