June 4, 2024 at 06:24AM
In May 2024, 28 cybersecurity M&A deals were announced, indicating ongoing industry consolidation. Major transactions included Akamai acquiring Noname Security, Bugcrowd acquiring Informer, and CyberArk acquiring Venafi. Notable mergers involved LogRhythm merging with Exabeam, and OpenText acquiring Pillr. Within the month, various other cybersecurity M&A deals were also finalized.
From the meeting notes provided, here are the key takeaways regarding the cybersecurity M&A deals:
1. In May 2024, there were a total of 28 cybersecurity-related M&A deals announced, with several significant transactions taking place.
2. SecurityWeek’s analysis revealed that in 2023, over 400 cybersecurity M&A deals were announced, although there was a decline in both deal volume and disclosed value.
3. Some of the major cybersecurity M&A deals in May 2024 included:
– Akamai’s acquisition of Noname Security for $450 million to enhance its API security solution and expand sales and marketing resources.
– Bugcrowd’s acquisition of Informer, a UK-based external attack surface management and pentesting provider, to complement its services.
– Cloudflare’s purchase of BastionZero to extend its VPN replacement solutions and Zero Trust Network Access (ZTNA) flows.
– CyberArc’s definitive agreement to acquire Venafi for approximately $1.54 billion, comprising $1 billion in cash and $540 million in CyberArk shares, to strengthen its machine identity management capabilities.
4. Other notable acquisitions included Crane NXT’s acquisition of OpSec Security, Drata’s purchase of Oak9, and Hg’s agreement to acquire AuditBoard for more than $3 billion.
5. Additionally, the announcement highlighted LogRhythm’s merger with Exabeam, Lumifi Cyber’s acquisition of Netsurion, and OpenText’s purchase of Pillr to enhance its threat hunting, monitoring, and response capabilities.
6. Palo Alto Networks agreed to acquire IBM’s QRadar SaaS assets, while Permira secured a majority stake in BioCatch, and Synopsys sold its Software Integrity Group to Clearlake Capital and Francisco Partners in a $2.1 billion deal.
7. Furthermore, several other cybersecurity M&A deals were announced in May 2024, involving companies such as Abissi, Air IT, Bertrandt, Boomi, CyEx, Dataprise, Databarracks, Fifosys, ISSQUARED, Network Coverage, Reveald, SHI International Corp., and TELUS.
I hope these summarized takeaways are helpful. If you need further information or analysis, feel free to ask.