Kirkland & Ellis has provided legal counsel to Thoma Bravo and its portfolio company, Venafi, which specializes in machine identity management, regarding Venafi's acquisition by CyberArk, a company focused on identity security. The deal is valued at approximately $1.54 billion, comprising around $1 billion in cash and $540 million in CyberArk shares.

The acquisition is anticipated to finalize in the latter half of 2024, pending necessary regulatory approvals and customary closing conditions. This strategic move highlights CyberArk's commitment to enhancing its identity security offerings through Venafi's expertise in machine identity management.

In related news, DLA Piper has advised Kommunalkredit on a €20 million development finance provision for a 1.6GW battery storage portfolio. Additionally, DLA Piper has also assisted Youlife in its SPAC merger aimed at going public on NASDAQ.

Hogan Lovells has represented Grupo México and Americas Mining Corporation in a significant USMCA labor arbitration case, while Clifford Chance has advised TotalCX on its sale to CallRevu. Furthermore, Clifford Chance has also guided Iberdrola in its $2.55 billion acquisition of the remaining shares of Avangrid, allowing it to fully own the majority-owned subsidiary.

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