Palo Alto Networks is considering a landmark acquisition of CyberArk Software, an Israeli cybersecurity firm, in a deal reportedly worth more than $20 billion. If completed, it would be the company’s most significant purchase to date.

According to the Wall Street Journal, sources close to the matter say a formal agreement could be signed as early as this week. The move would significantly enhance Palo Alto Networks’ market position amid rising AI-related cyber risks.

CyberArk’s expertise in privileged access management and identity security would provide Palo Alto Networks with critical capabilities to counter sophisticated threats.

This potential merger follows Palo Alto Networks’ acquisition of Protect AI, whose technology is being deployed through the Prisma AIRS platform to secure AI applications and infrastructure.