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Cyber security is hot... here's the top M&A deals so far in 2021

Cyber security is hot... here's the top M&A deals so far in 2021

The cyber security market is hot, and vendors are buying competitors to solidify their position or acquiring other firms to expand their offerings.

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"The addition of Deep Secure's innovative Threat Removal Platform and hardware security to our Forcepoint Cross Domain Solutions portfolio further extends the depth of our defence-grade capabilities to governments and critical infrastructure organisations around the world, who continue to be under siege from nation-state and other attackers looking for financial gain or to ultimately disrupt societies and economies at scale," said Forcepoint President of Global Governments and Critical Infrastructure Sean Berg in a press release.

Private equity firms to buy cloud security vendor ExtraHop

June 8: Bain Capital Private Equity and Crosspoint Capital Partners have entered into an agreement to acquire Extrahop, a cloud-native network detection and response solution provider. The deal is valued at $900 million.

“By combining our exceptional team, market need, and technology with the deep domain expertise and resources of Bain Capital and Crosspoint Capital, ExtraHop has the opportunity to grow faster and accelerate our innovation to help our customers defend their operations from even the most advanced threats,” said ExtraHop CEO Arif Kareem in a press release.

Sumo Logic finalises acquisition of SOAR provider DFLabs

May 25: SIEM and cloud monitoring vendor Sumo Logic adds security orchestration, automation and response (SOAR) capabilities with its purchase of DFLabs. Sumo Logic will extend its cloud-native SIEM solution with DFLabs technology.

“Customers are looking for a new approach to help them overcome the pain and complexity around an increasingly perimeter-less world,” said Greg Martin, vice president and general manager of Sumo Logic Security Business Unit, in a press release.

“The DFLabs team are experts in helping customers navigate this new world. By aligning our cyber security expertise, customer validated and leading security portfolios, we believe we will be able to address the critical challenges our customers face as they navigate this changing threat landscape.” Terms of the deal were not announced.

Splunk to acquire TruSTAR to boost security analytics

May 18: Splunk has entered into an agreement to buy cloud-native security company TruSTAR. The company plans to integrate capabilities of TruSTAR's Intelligence Platform into its Data-to-Everything platform.

“In today’s data age, integrated and automated intelligence is critical to accelerate detection, streamline response and increase cyber resilience. TruSTAR’s cloud-native solution centralises threat data from a wide array of sources so it can be seamlessly integrated into security analytics and SOAR workflows to provide more autonomous, higher efficacy security operations,” said Sendur Sellakumar, senior vice president, cloud and chief product officer, Splunk, in a press release. Terms of the acquisition were not announced.

Cisco announces intent to buy Kenna Security

May 14: Cisco has announces plans to acquire risk-based vulnerability management firm Kenna Security. Kenna's machine learning-based technology will be incorporated into Cisco's SecureX platform.

“Hybrid work is here to stay, and the increasing complexity of cyber security is our customers’ biggest challenge. We must radically simplify security to stay ahead of the evolving threat landscape,” said Jeetu Patel, senior vice president and general manager, Cisco Security and Collaboration, in a press release.

“Our goal is to unify all critical control points into a single platform. With the addition of Kenna Security, we will fundamentally strengthen our platform experience by giving customers the ability to prioritise vulnerabilities based on a robust risk methodology that is tuned to their unique needs.” Terms of the acquisition were not disclosed.

NCC Group to acquire Iron Mountain's intellectual property management business

May 13: Cyber security and resilience advisory firm NCC Group has entered into an agreement to acquire Iron Mountain's intellectual property management (IPM) business for $220 million. NCC will role the IPM unit into its Software Resilience group to create an escrow business.

"The IPM business shares many similarities with our own Software Resilience business, including a commitment to providing exemplary service for clients. There are tremendous opportunities to grow the combined business by offering IPM’s blue-chip clients the choice of new services and support," said NCC Group CEO Adam Palser in a press release.

Forcepoint adds remote browser isolation technology with Cyberinc purchase

May 6: Forcepoint has acquired Cyberinc, which provides remote browser isolation (RBI) technology that gives administrator more granular control over users' web browsing activity. The company plans to integrate Cyberinc's RBI technology into its SASE platform.

"The acquisition of Cyberinc's Smart Isolation capabilities is the first of many investments Forcepoint will make to enhance user productivity, lower operational burdens and eliminate traditional monolithic products through a best-in-class SASE cloud service," said Forcepoint CEO Manny Rivelo in a press release. Term of the acquisition were not disclosed.

LiveAction buys network detection and response vendor CounterFlow AI

May 4: Network performance management firm LiveAction has acquired CounterFlow AI, a network detection and response (NDR) provider. The deal will add encrypted traffic analysis for security incident detection and response to LiveAction's network performance monitor and diagnostics platform.

“NetOps and SecOps teams are facing advanced security threats hiding within the rising tide of encrypted traffic, and losing an inordinate amount of time coordinating to triage alerts and potential incidents,” said Stephen Stuut, CEO of LiveAction, in a press release. “Businesses today need end-to-end visibility for both network performance and security management, which is why CounterFlow AI’s cutting-edge NDR capabilities are such a perfect match for our platform." Terms of the deal were not disclosed.

Accenture to acquire French cyber security services provider Openminded

April 29: Global professional services company Accenture has entered into an agreement to by Openminded, a cyber security services firm that provides advisory, managed security services, and cloud and infrastructure services in Europe. "The alliance of our talent and capabilities perfectly leverages our expertise and would allow us to deliver on a global scale," said Openminded founder and CEO Herve Rousseau in a press release. Terms of the sale were not released.

Private equity firm Thoma Bravo to buy Proofpoint

April 26: Cyber security and compliance company Proofpoint has agreed to be acquired by Thoma Bravo. It's the latest in a string of security vendors that the private equity firm has bought, including Wombat, ObserveIT and Meta Networks.

"Thoma Bravo is an experienced software investor, providing capital and strategic support to technology organisations, and our partnership will accelerate Proofpoint’s growth and scale at an even faster pace," said Proofpoint Chairmand and CEO Gary Steele in a press release. Thoma Bravo will take Proofpoint private once the $12.3 billion deal is finalised.

Rapid7 acquires open-source community Velociraptor

April 21: Velociraptor's technology gives security analytics and automation vendor Rapid7 a foothold in the digital forensics and incident response space. The company has pledged to continue to develop Velociraptor's tools and build its community.

“We strongly believe that partnership with the open-source community is one of the most important ways to move the security industry forward and make the digital world a safer place for everyone," said Rapid7 Senior Vice President of Detection and Response Richard Perkett in a press release.

"We look forward to bringing our expertise in growing and nurturing open-source communities to Velociraptor, while also enhancing our monitoring, digital forensics, and incident response capabilities for customers.” Terms of the deal were not disclose.

Mastercard buys Ekata for digital identity verification

April 17: Payment network processor Mastercard has acquired Ekata, known for its machine-learning-based technology to detect "good" from "bad" consumers in real-time during transactions.

"The shift to a more digital world requires real solutions to secure every transaction and instill trust in every interaction," said Ajay Bhalla, president of cyber and intelligence solutions at Mastercard, in a press release. "With the addition of Ekata, we will advance our identity capabilities and create a safer, seamless way for consumers to prove who they say they are in the new digital economy." Mastercard will pay $850 million for Ekata.

VMware completes acquisition of API security firm Mesh7

March 31: VMware has finalised its purchase of Mesh7, which will allow VMware to bring “visibility, discovery and better security to APIs,” according to a blog post. The move gives VMware Mesh7’s contextual API behaviour security solution, which is expected to help VMware deliver on a promise to provide “modern application services” using open-source options. Terms of the acquisition were not released.

Alacrinet Consulting Services buys Chamber’s Key

March 31: Alacrinet Consulting Services adds security research and penetration testing to its offerings with its purchase of Chamber’s Key. With the acquisition, the company is launching a new division called Alacrinet Security Labs, which will research new Common Vulnerabilities and Exposures (CVEs) and publish results and recommendations.

“As we grow the team, we’re also looking to implement a training course to certify the skill level and experience of our penetration testers. In conjunction with their technical certifications, our training course will provide penetration testers with best practices and processes that connect their testing with the business goals and security solutions,” Mike Pena, CEO of Chamber’s Key and now VP of penetration testing at Alacrinet, said in a press release. Terms of the acquisition were not released.

Plurilock announces intent to acquire Aurora Systems Consulting

March 29: US-based cyber security solutions provider Plurilock has entered into a definitive share purchase agreement to acquire security technology and services company Aurora Systems Consulting. The deal will boost Plurilock’s presence in the government market. Aurora’s key customers include the US Department of Defense, the US Department of the Treasury, and the US National Aeronautics and Space Administration.

"By incorporating Plurilock's cutting-edge technology platform into our product offering, our clients will receive a more robust and comprehensive identity authentication solution, which has been adapted to provide safe and secure remote work access to employees working from home," said Aurora founder and President Philip de Souza in a press release. Aurora will function as a wholly owned subsidiary once the acquisition is complete.

Hornetsecurity beefs up email security offerings with acquisition of Zerospam

March 25: Cloud email security provider has acquired Canada-based Zerospam, which provides cloud email protection services to business of all sizes in North America. This comes shortly after Hornetsecurity’s purchase of back-up solution provider Altaro in January. Hornetsecurity CEO Daniel Hoffman said they will continue to develop Zerospam’s offerings.

“We shall be investing heavily in the Zerospam partner community and providing them with an expanded range of new products so that they can boost their customers' security and compliance beyond their current offerings," he said in a press release. Terms of the acquisition were not released.

Kroll acquires UK cyber security services provider Redscan

March 25: Kroll, a global provider of governance, risk and transparency services and products, has purchased UK-based Redscan.

The company plans to add Redscan’s extended detection and response (XDR) enabled security operations centre (SOC) platform to its Kroll Responder capabilities to support a wider array of cloud and on-premise telemetry sources. Redscan is also known for its proprietary cloud-native MDR solution, which correlates events and intelligence from leading telemetry sources. Terms of the acquisition were not released.

VENZA buys MSSP CyberTek Engineering

March 25: With the acquisition of managed security service provider (MSP) CyberTek Engineering, VENZA expects to enhance its data protection and compliance services for the hospitality industry.

"By acquiring CyberTek, we create a force-multiplier effect in addressing some of the biggest struggles for hoteliers today: staying ahead of technological change while ensuring compliance and protecting their business and guest data against vulnerabilities and threats," said VENZA Chairman and CEO Jeff Venza in a press release. CyberTek MSSP will become a solely owned subsidiary of VENZE. Terms of the sale were not disclosed.

MSSP True North Networks acquired by private equity firm

March 23: Private equity firm Bluff Point Associates has bought True North Networks, which provides IT solutions, security and support to registered investment advisors (RIAs). The move bolsters Bluff Point Associates’ portfolio of technology companies that serve the financial services industry.

“We believe there’s a considerable demand for secure and flexible cloud-based solutions providers that understand how to serve RIAs and the regulatory framework they operate in, and we’re committed to helping True North capitalise on this opportunity,” Kevin Fahey, Bluff Point Associates managing director, said in a press release. Terms of the acquisition were not released.

RingCentral acquires Kindite to deliver end-to-end encryption

March 22: RingCentral has purchased cryptographic technologies provider Kindite. It’s a talent and technology acquisition, as RingCentral will absorb the Kindite team into its own workforce and incorporate Kindite technology into RingCentral’s products. This will allow RingCentral to provide end-to-end encryption over its global communications platform. Terms of the sale were not disclosed.

DevOps to DevSecOps -- Copado acquires New Context

March 17: DevOps platform provider Copado expands its DevSecOps services with the purchase of New Context, whose customers include GE, Kaiser Permanente, and Royal Dutch Shell.

“By combining Copado DevOps and value stream technology with New Context's breadth and knowledge of DevSecOps, enterprises can more efficiently navigate through multi-cloud digital transformations with less risk and more successful outcomes,” said Copado CEO Ted Elliott in a press release.  Terms of the acquisition were not released.

Recorded Future announces intent to acquire fraud analytics vendor Gemini Advisory

March 16: Enterprise intelligence provider Recorded Future has agreed to acquire Gemini Advisory in a deal worth $52 million. The purchase is expected to accelerate Recorded Future’s growth in the fraud analytics market.

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