May 20, 2024 at 08:27AM
Summary:
In the first half of May 2024, 15 cybersecurity-related M&A deals were announced, marking significant transactions in the industry. Notable acquisitions include Akamai acquiring Noname Security, Crane NXT acquiring OpSec Security, and LogRhythm planning to merge with Exabeam. Palo Alto Networks, Permira, and Synopsys also finalized important cybersecurity M&A deals.
Based on the meeting notes, here are the key takeaways regarding the cybersecurity-related M&A deals announced in the first half of May 2024:
1. There were fifteen cybersecurity-related M&A deals announced in the first half of May 2024, indicating robust activity in the cybersecurity industry.
2. The Akamai acquisition of Noname Security for $450 million enables Akamai to enhance its API security solution and expand its sales and marketing resources.
3. Crane NXT’s acquisition of OpSec Security led to the renaming of its Crane Currency segment to Security and Authentication Technologies.
4. Drata’s acquisition of Oak9 allows the company to offer a platform that monitors compliance before and after code is deployed to production.
5. LogRhythm’s merger with Exabeam, valued at $2.5 billion, promises impressive technologies in the threat detection, investigation, and response category.
6. Palo Alto Networks’ acquisition of IBM QRadar SaaS assets aims to migrate QRadar customers to Palo Alto’s Cortex XSIAM SOC platform.
7. Permira agreed to acquire a majority stake in BioCatch, reaching an enterprise valuation of $1.3 billion.
8. Synopsys is selling its Software Integrity Group to Clearlake Capital and Francisco Partners in a $2.1 billion deal, with the software integrity business emerging as an independent application security testing software provider.
9. Other notable acquisitions include Boomi’s acquisition of APIIDA’s federated API management business, TELUS’s acquisition of Vumetric, and KnowBe4’s plans to acquire Egress for Email Security Tech.
Overall, these M&A deals signal significant changes and expansions within the cybersecurity industry, reflecting ongoing consolidation and strategic positioning of key players.