I would sort of naively imagine that that would work at a smaller price tag but at $25 billion it would be tough to make it pencil out.
I would sort of naively imagine that that would work at a smaller price tag but at $25 billion it would be tough to make it pencil out.
Even moreso when you take into account that CyberArk is not exactly a beloved product because it involves a lot of hassle. At 5-6B it may have been reasonable or simply a portfolio add that's cheap because of shared ownership/refinance but for 25B they could have bought Okta, which would have added much more value to their portfolio...
I'm not buying a revenue synergies argument. Has to be more.
1. These synergies are hard to deliver, let alone 25x.
2. Paying 25x revenue implies you're forecasting way more (+30x?) in value.