Udi Mokady and Alon Cohen co-founded CyberArk in 1999. See the 2014 IPO at $16, the $25B Palo Alto Networks deal and the Tel Aviv listing of its shares.
Udi Mokady and Alon N. Cohen co-founded CyberArk in 1999 in Petah Tikva, Israel, and the company went public on Nasdaq in September 2014 at $16 per share. Palo Alto Networks announced a cash-and-stock deal worth about $25 billion for CyberArk on July 30, 2025 and completed it on February 11, 2026, paying $45.00 in cash plus 2.2005 Palo Alto shares per CyberArk share, per Palo Alto Networks.
Who are Udi Mokady and Alon Cohen at a glance?
| Item | Detail | Source |
|---|---|---|
| Company | CyberArk, founded 1999, Petah Tikva | Globes |
| Co-founders | Udi Mokady and Alon N. Cohen, childhood friends | Wikipedia |
| Mokady's role | CEO until 2023, then executive chairman; Matt Cohen became CEO | CyberArk |
| IPO | September 2014, 5.36 million shares at $16, raising $85.8 million at a $473 million valuation | Globes |
| Acquirer | Palo Alto Networks, announced July 30, 2025, closed February 11, 2026 | Palo Alto Networks |
| Deal terms | $45.00 cash plus 2.2005 PANW shares per CyberArk share | Palo Alto Networks |
How did CyberArk start and go public?
CyberArk's founders built the company around protecting privileged accounts, the administrator logins that give access to an organization's most sensitive systems, according to Globes. Wikipedia reports that Mokady and Cohen, who were childhood friends, co-founded the company in April 1999.
CyberArk priced its Nasdaq IPO at $16 per share in September 2014, above the planned $13 to $15 range, and raised $85.8 million at a company value of $473 million, per Globes. On its first day of trading the share price more than doubled to nearly $35, then settled at $29.80, giving a market capitalization of $881 million. Jerusalem Venture Partners was the largest investor, according to the same report.
Who ran CyberArk before the Palo Alto deal?
Mokady led CyberArk as chief executive until 2023, when the company announced he would become executive chairman and that Matt Cohen would become CEO, per Wikipedia, which cites CyberArk's announcement. Matt Cohen was still CEO at the Palo Alto completion, according to the Palo Alto Networks release.
Wikipedia reports that Alon N. Cohen served as the company's first chief executive and later as chairman. Sources differ on the early leadership roles, so this page does not assign founding titles.
What did Palo Alto Networks pay for CyberArk?
Palo Alto Networks agreed to buy CyberArk for about $25 billion in equity value, paying $45.00 in cash and 2.2005 Palo Alto shares for each CyberArk share, the Associated Press reported on the July 30, 2025 announcement. The stock component means the final value moved with Palo Alto's share price, and The Jerusalem Post cited Globes as putting the total at $21.5 billion.
Palo Alto completed the acquisition on February 11, 2026 and said CyberArk's identity security products would remain available as a standalone platform. By Olam's count, the deal is the second-largest Israeli-founded cybersecurity acquisition after Google's purchase of Wiz, covered in the $57 billion year of Israeli cyber exits.
Is Palo Alto Networks listed in Tel Aviv?
Palo Alto Networks announced a secondary listing on the Tel Aviv Stock Exchange under the ticker CYBR, a tribute to CyberArk, and the listing would make it the largest company on the exchange by market value, Reuters reported. The Jerusalem Post later reported that Palo Alto began trading on the TA-35 and TA-125 indices and had been the exchange's most valuable company since it listed in February. For the listing structures behind this, see Olam's page on Palo Alto Networks and its Israeli roots.
Udi Mokady and Alon Cohen FAQ
Who founded CyberArk?
Udi Mokady and Alon N. Cohen co-founded CyberArk in 1999 in Petah Tikva, according to Globes and Wikipedia.
Who acquired CyberArk and when?
Palo Alto Networks completed its acquisition of CyberArk on February 11, 2026, according to Palo Alto Networks.
How much did Palo Alto pay for CyberArk?
The deal was valued at about $25 billion in equity value, paid as $45.00 in cash plus 2.2005 Palo Alto shares per CyberArk share, according to Palo Alto Networks and the Associated Press.
When did CyberArk go public?
CyberArk listed on Nasdaq in September 2014 at $16 per share, according to Globes.
Related Olam coverage: Marius Nacht, Shlomo Kramer, the four operators behind Wiz, the Israeli cyber citation share index and Israeli founders and companies.
How we report: Olam stories draw on public filings, company disclosures and named sources, checked by our editors. Read our methodology · Corrections
