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Palo Alto to Dual-List in Tel Aviv After $25B CyberArk Deal

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Palo Alto Networks will begin trading its shares on the Tel Aviv Stock Exchange following the completion of its $25 billion acquisition of Israeli cybersecurity firm CyberArk Software.

Already listed on Nasdaq, Palo Alto said the dual listing will make it the largest company by market capitalization on the Tel Aviv Stock Exchange, with a current valuation of approximately $115 billion. The company plans to trade under the ticker symbol “CYBR” in Tel Aviv, though it has not disclosed a listing date.

Under the acquisition terms, CyberArk shareholders will receive $45 in cash plus 2.2005 shares of Palo Alto Networks common stock for each CyberArk ordinary share. The deal marks Palo Alto’s largest acquisition to date and significantly strengthens its Israeli research and development footprint, which is already its largest outside Silicon Valley.

CEO Nikesh Arora is positioning the company as a comprehensive cybersecurity platform provider, aiming to capitalize on increasing demand fueled by artificial intelligence-driven threats and digital transformation.

The Tel Aviv Stock Exchange welcomed the move, describing it as a milestone for Israel’s capital markets. The listing will provide Israeli institutional and retail investors with direct access to Palo Alto shares while preserving CyberArk’s identity within the group.

Meanwhile, rival Check Point Software Technologies confirmed it will remain solely listed on Nasdaq.

Verisk Scraps $2.35 Billion AccuLynx Acquisition After FTC Review Delay

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Verisk has terminated its planned $2.35 billion acquisition of roofing software provider AccuLynx, citing delays in regulatory approval by U.S. antitrust authorities. The decision was disclosed in a statement released on Monday.

Verisk said the move followed notification from the Federal Trade Commission that it had not completed its review of the transaction by the agreed termination deadline of December 26. As a result, the merger was not finalized by the extended cutoff date, prompting Verisk to formally call off the deal last week.

The data analytics firm first announced the acquisition in July, positioning the purchase as a strategic expansion into software solutions for the insurance and construction ecosystem. At the time, the transaction was expected to close by the third quarter of 2025, subject to regulatory approvals.

The termination has already sparked a dispute between the two companies. Verisk said AccuLynx has informed it that it believes the termination of the merger agreement is invalid. Verisk rejected that claim, stating it “strongly disagrees” and intends to “vigorously defend against any such assertions.” Neither AccuLynx nor the FTC immediately responded to requests for comment.

Following the collapse of the deal, Verisk said it plans to redeem approximately $1.5 billion in debt that had been issued to finance the acquisition. The decision removes a major transaction from Verisk’s growth plans and underscores the growing impact of prolonged regulatory scrutiny on large technology and data-related mergers.

Prosus Eyes Possible Bid for Germany’s Largest Online Auto Marketplace Mobile.de

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Dutch tech investment giant Prosus has shown early-stage interest in acquiring Mobile.de, Germany’s biggest online auto marketplace, according to sources familiar with the matter.

Current owners Permira and Blackstone are leaning toward an initial public offering (IPO) rather than an outright sale, but Prosus — through its classifieds division OLX — could enter the race depending on market conditions. The company’s tentative approach underscores growing competition for digital auto platforms across Europe.

The private equity funds have enlisted JPMorgan and Goldman Sachs to prepare Mobile.de for a potential IPO that could value the company at up to €10 billion ($11.7 billion), sources said. The listing could take place next year, though no formal sale process has yet begun.

Alongside Prosus, private equity groups EQT, Cinven, and Apax have also expressed interest, according to the report. All parties declined to comment.

Mobile.de’s parent company, Adevinta, was purchased by Permira and Blackstone in 2023 for around 141 billion Norwegian crowns. Since then, the new owners have begun breaking up Adevinta’s holdings, including selling its Spanish classifieds business to EQT and its Austrian subsidiary Willhaben to Sprints and Styria Media Group.

Prosus, the investment arm of South Africa’s Naspers, has recently expanded its automotive footprint, buying France’s La Centrale platform for €1.1 billion earlier this month.

The early-stage talks reflect the growing investor appetite for online vehicle marketplaces, which have proven resilient and profitable amid a broader slowdown in tech valuations.