Cybersecurity M&A Roundup: 28 Deals Announced in May 2024
Twenty-eight cybersecurity-related merger and acquisition (M&A) deals were announced in May 2024, including some significant transactions.
An analysis conducted by SecurityWeek shows that more than 400 cybersecurity M&A deals were announced in 2023, with a drop seen in both volume and disclosed deal value.
Here is a list of the most important cybersecurity M&A deals announced in May 2024:
Akamai to acquire Noname Security
Cloud and security giant Akamai is acquiring API security firm Noname Security for $450 million. The deal enables Akamai to expand its existing API security solution, as well as to scale its sales and marketing resources.
Bug bounty platform Bugcrowd has acquired UK-based external attack surface management and pentesting provider Informer. Informer will complement Bugcrowd’s penetration testing services and its attack surface management offering.
Cloudflare acquires Bastionzero
Cloudflare announced the acquisition of seed-stage startup BastionZero as part of plans to expand the scope of its VPN replacement solutions. The acquisition fits into Cloudflare’s plan to extend its Zero Trust Network Access (ZTNA) flows with native access management for infrastructure like servers, Kubernetes clusters, and databases.
Crane NXT acquires OpSec Security
Industrial technology company Crane NXT has completed its acquisition of brand protection and authentication solutions provider OpSec Security. Following the acquisition, Crane NXT is renaming its Crane Currency segment to Security and Authentication Technologies, which will consist of the Crane Currency business and the acquired OpSec business.
Identity security firm CyberArk has entered a definitive agreement to acquire machine identity management firm Venafi from private equity firm Thoma Bravo. The deal is valued at approximately $1.54 billion, including $1 billion in cash and $540 million in CyberArk shares.
Compliance automation firm Drata announced buying Oak9, a company that specializes in infrastructure-as-code and helps organizations build security and compliance into cloud-native applications as they are developed. The deal enables Drata to provide a platform that monitors compliance both before and after code is deployed to production.
UK-based private equity company Hg has reached an agreement to acquire audit, compliance and risk management firm AuditBoard for more than $3 billion. Hg also announced that it has invested £87.2 million ($111 million) in AuditBoard.
Thoma Bravo-owned LogRhythm announced plans to merge with SIEM rival Exabeam, most recently valued at $2.5 billion. LogRhythm said the deal will combine impressive technologies in the threat detection, investigation, and response (TDIR) category.
Lumifi Cyber has announced buying managed extended detection and response (XDR) provider Netsurion. Lumifi said it will provide enhanced security to Netsurion’s customer base through its SOC and SHIELDVision platform.
Information management company OpenText has acquired Pillr, a firm that offers a cloud native, multi-tenant MDR platform for MSPs. The combination of Pillr technology and OpenText security expertise provides enhanced threat hunting, monitoring, and response.
Palo Alto Networks acquires IBM QRadar SaaS assets
Palo Alto Networks has agreed to acquire IBM’s QRadar SaaS assets – technology that IBM acquired back in 2011 when it bought Q1 Labs. Once the acquisition of QRadar assets has been completed, the companies will facilitate the migration of QRadar customers to Palo Alto’s recently unveiled Cortex XSIAM SOC platform.
Permira to acquire majority stake in BioCatch
Global private equity firm Permira has agreed to acquire a majority stake in digital fraud detection and financial crime prevention company BioCatch, which has reached an enterprise valuation of $1.3 billion.
Synopsys sells Software Integrity Business to Clearlake Capital and Francisco Partners
Synopsys is selling its Software Integrity Group to private equity firms Clearlake Capital and Francisco Partners in a $2.1 billion deal. Once the transaction closes, the software integrity business will emerge as an independent application security testing software provider.
Other cybersecurity M&A deals announced in May 2024:
Bertrandt acquires Centum Digital
Boomi acquires APIIDA’s federated API management business and assets from Cloud Software Group
Dataprise acquires Hooks Systems
Databarracks acquires PlanB Consulting
Network Coverage acquires MadWolf Technologies
SHI International Corp. acquires Locuz Enterprise Solutions Limited
Related: Cybersecurity M&A Roundup: 33 Deals Announced in April 2024
Related: KnowBe4 Plans to Acquire Egress for Email Security Tech
