May 1, 2024 at 10:05AM
Mergers and acquisitions (M&A) are on the rise globally, with M&As in the US up 130% to $288 billion, and 56% globally to $453 billion. The exchange of sensitive data during M&As creates cybersecurity challenges, making cybersecurity critical for protecting confidential data and maintaining customer trust. A detailed cybersecurity checklist is provided to help organizations manage cyber-risks during M&A transactions.
Based on the meeting notes, here are the key takeaways:
1. Mergers and acquisitions (M&A) activity is on the rise, both in the US and globally, bringing with it the need to address cybersecurity challenges particularly around the exchange of sensitive data.
2. Cybersecurity is crucial for protecting confidential data and the integrity of organizations involved in M&A deals, as a data breach can lead to financial and reputational damage.
3. A comprehensive cybersecurity checklist has been provided to help organizations effectively manage cyber-risks before, during, and after M&A transactions.
4. Key components of the checklist include early due diligence, risk metrics, cybersecurity team establishment, risk mitigation strategy, IT integration planning, third-party risk assessment, identity and access governance, incident response planning, ongoing monitoring, and employee training.
These takeaways emphasize the critical importance of integrating cybersecurity considerations into the entire M&A lifecycle to mitigate potential risks and ensure a successful transition.