Cybersecurity Acquisitions in 2024

Bluestone Investment Partners has made a strategic growth investment in Valiant Solutions, LLC, a federal cybersecurity provider headquartered in Henderson, North Carolina. The transaction will support Valiant's next phase of growth — including new executive hires George Wilson and Tom Weston — while founder Matt Raydo remains to lead business development and customer continuity.

OPSWAT has acquired Fend Incorporated, a data diode and unidirectional gateway technology provider headquartered in Arlington, Virginia, to expand its OT and critical-infrastructure cybersecurity product portfolio. The deal strengthens OPSWAT’s capabilities in secure one-way data transfer for government, utilities, energy, and industrial customers and was facilitated by M&A advisor Trafalgar Capital Partners.

Compliance Scorecard, a Compliance-as-a-Service (CaaS) platform for MSPs, has acquired PrivacyMSP, a specialized privacy and compliance consulting firm. PrivacyMSP founder Brian Blakley will join Compliance Scorecard as Chief Risk Officer to lead a new Professional Services division and expand the company's privacy, governance, and compliance offerings for MSPs.

Arctic Wolf has agreed to acquire BlackBerry's Cylance endpoint security business for $160 million, paid in cash and approximately 5.5 million Arctic Wolf common shares. Arctic Wolf will integrate Cylance's AI-powered endpoint technology into its Aurora open-XDR platform to broaden capabilities and bolster its cybersecurity offerings; BlackBerry will remain involved as a reseller and shareholder.

AE Industrial Partners has acquired Israeli spyware vendor Paragon, closing the deal on Dec. 13 for about $500 million with reports the transaction could be worth up to $900 million. AE plans to merge Paragon with Virginia-based cybersecurity firm Red Lattice; Paragon was founded in 2019 by former Israeli intelligence officers and has a U.S. subsidiary.

SailPoint Technologies has acquired Imprivata's Identity Governance and Administration (IGA) business and entered a strategic go-to-market partnership with Imprivata, effective December 13, 2024. SailPoint will integrate Imprivata's IGA with its Identity Security Cloud, support customers who remain on Imprivata's IGA platform through 2027, and promote Imprivata as its exclusive enterprise access management partner in healthcare while Imprivata focuses on access management, mobile, and privileged access solutions.

Pango Group and Total Security have merged and rebranded as Point Wild, a holding company operating a portfolio of consumer and enterprise cybersecurity brands including Total AV and Hotspot Shield. The combined business will generate approximately $600 million in annual revenue with TTM EBITDA of $150 million and an enterprise value of $1.7 billion, positioning the company to scale across direct-to-consumer, partner and enterprise channels.

Schellman & Company, LLC has acquired the Third-Party Risk Management (TPRM) practice carved out from Connor Consulting. The deal transfers select personnel and TPRM capabilities to Schellman to strengthen its cybersecurity, governance, risk, and compliance offerings and expand its third-party risk management services.

Fortinet has acquired Perception Point, an Israel-based provider of AI-powered email and collaboration security, to extend protections across modern workspaces (email, Slack, Teams, browsers, and cloud storage) and integrate those capabilities into the Fortinet Security Fabric. The acquisition strengthens Fortinet’s user-facing security portfolio and expands its AI-driven threat detection across collaboration and SaaS endpoints.

Citrix, a business unit of Cloud Software Group, Inc., announced the acquisitions of deviceTRUST GmbH and strong.network SA to expand zero‑trust access controls and secure cloud development environments. The deals will integrate device posture and contextual access for VDI/DaaS and secure Cloud Development Environments into the Citrix platform and Citrix Secure Private Access.

SecureAuth has acquired SessionGuardian to integrate its biometric continuous identity assurance (BCIA) technology into SecureAuth’s identity and access management (IAM/CIAM) portfolio. SessionGuardian’s team and technology will be incorporated to provide continuous biometric protection for user sessions beyond initial login, strengthening SecureAuth’s offerings for regulated end markets such as legal services, financial services, and healthcare.

Recognize, a private equity firm focused on digital services, has made a strategic growth investment in SDG Corporation, a Norwalk, Connecticut-based provider of advisory, implementation, and managed cybersecurity services. SDG (approximately 400 employees) will continue to be led by founder and CEO Ajay Gupta, and Recognize will support the company’s buildout and accelerated growth in identity and access management (IAM), threat, and risk services.

Keensight Capital has signed an exclusivity agreement to acquire a majority stake in MetaCompliance, a Northern Ireland–headquartered Human Risk Management and security awareness training software provider. Keensight will back MetaCompliance's product development, cross-selling and geographic expansion across Europe and the US while prior investor Tenzing — which previously partnered with MetaCompliance — is referenced in the announcement.

Marlin Equity Partners has signed a definitive agreement to acquire tmc3 Limited and merge it into Qodea Limited (formerly CTS), a Marlin portfolio company and Europe's largest dedicated Google Cloud digital transformation partner. The deal expands Qodea's cyber security capabilities and enables the combined business to offer more comprehensive, secure digital transformation solutions to organisations across Europe.

Magna5, a NewSpring Holdings platform company, has acquired ThreatAdvice to expand its managed security services capabilities and geographic presence in the U.S. Southeast. The deal brings ThreatAdvice's vCISO practice, 24×7 monitoring capabilities and a cybersecurity education software platform into Magna5's national managed IT and security offering as an add‑on to its platform.

CyberProof, a UST company, has acquired Interpres Security, a Mount Pleasant, South Carolina-based vendor recognized for Continuous Threat Exposure Management (CTEM) and Automated Security Control Assessments (ASCA). The acquisition will integrate Interpres's CTEM/ASCA platform into CyberProof's managed security services to provide continuous, risk-prioritized exposure management and improve security outcomes for enterprise customers.

SIXGEN, a mission-focused cyber solutions provider backed by Washington Harbour Partners, has acquired Kyrus Tech, a specialized software development and reverse-engineering firm serving the U.S. intelligence and defense communities. The add-on strengthens SIXGEN's engineering capabilities (adding ~80 engineers) and expands its mission-focused product and services portfolio for national security and critical infrastructure customers.

Aprio has acquired Securitybricks, Inc., a cybersecurity firm specializing in cloud security, compliance and government contracting assessments, effective Dec. 1, 2024. The acquisition brings more than 15 Securitybricks team members into Aprio's Risk Assurance and Advisory Services practice and expands Aprio's FedRAMP/CMMC assessment and managed security compliance capabilities.

ID.me closed a $67 million secondary tender offer led by new investor Ribbit Capital with participation from existing investors Viking Global Investors and CapitalG. The transaction provides liquidity to existing shareholders while bringing in institutional investors to support the company’s continued growth; ID.me is headquartered in McLean, Virginia and has enrolled over 135 million users into its digital identity wallet.

Kingswood Capital Management has acquired Identity Theft Guard Solutions, Inc. (IDX), a Portland-based provider of data breach response and digital privacy protection services, from ZeroFox. Stellus Capital Management provided unitranche debt financing and an equity co-investment to support Kingswood's investment; IDX's existing management will remain in place as Kingswood pursues standalone growth and capability expansion.

Danvers-based Network Coverage has acquired Baltimore-area Think|Stack, a cybersecurity and cloud solutions provider. The deal expands Network Coverage's managed IT, cybersecurity and cloud capabilities and brings Think|Stack's client base (200+ clients, including 160+ credit unions) into the combined business; Network Coverage Chief Strategy Officer Brian David was promoted to Co-CEO alongside Think|Stack CEO Chris Sachse.

Wiz has acquired Dazz in a cash-and-share deal valued at $450 million to add remediation and attack-surface/posture-management capabilities to its cloud security platform. Dazz will continue to operate as a separate entity while being integrated into Wiz’s stack to deliver a more comprehensive 360-degree risk and remediation offering for developer and enterprise customers.

Exclusive Networks has acquired 100% of Cloudrise, a Grand Junction, Colorado-based security services provider specializing in managed and professional services for SASE, DSPM and CNAPP solutions. The deal strengthens Exclusive Networks' U.S. footprint and service capabilities by integrating Cloudrise's expertise and delivery centers while allowing Cloudrise to continue operating under its brand within the Exclusive Networks ecosystem.

CoreStack Inc., an AI-powered multi-cloud governance platform based in Bellevue, Washington, has acquired Karthik Consulting LLC, a Virginia-based federal IT and cybersecurity systems integrator. The deal brings Karthik Consulting's cATO and DevSecOps capabilities and ~125 security-focused professionals into CoreStack to accelerate the company's expansion into the U.S. federal market and bolster its cloud-security offerings.

N‑able, Inc. (NYSE: NABL) has acquired Adlumin, Inc., an enterprise-grade security operations platform provider, to integrate cloud-native XDR and MDR capabilities into N‑able's unified IT management and security platform. The transaction includes approximately $100 million cash at close, 1,570,762 shares of N‑able common stock, $120 million in cash installments over two years, and up to $30 million in potential earn-outs, and is intended to accelerate ARR growth and expand N‑able's security offering for MSPs and internal IT teams.

PSG Equity purchased Elron Ventures' secondary stake in IronScales at an approximate company valuation of $340 million. The secondary sale generated estimated proceeds of $26 million for Elron and reflects a roughly 23x return on Elron's original investment; IronScales is an AI-powered email security provider.

Enzoic, a Boulder-based identity threat detection and protection firm, has acquired VeriClouds, a provider of compromised password data collection and credential monitoring. The acquisition combines VeriClouds' marketplace and data sources with Enzoic's threat intelligence capabilities to deliver expanded compromised credential monitoring and enhanced identity protection services.

Universal Technical Resource Services, Inc. (UTRS) formed a new majority-owned subsidiary, UTRS InfoSec LLC, and acquired Black Cipher Security, LLC to expand its cybersecurity capabilities. The acquisition brings Black Cipher's managed security, incident response, and risk management expertise into UTRS to strengthen services for the Department of Defense and commercial clients.

Bitsight Technologies has agreed to acquire cyber threat intelligence provider Cybersixgill for $115 million. The acquisition will integrate Cybersixgill's real-time threat intelligence and AI-driven analytics into Bitsight's cyber risk management platform to deliver deeper visibility into external attack surfaces and targeted threats.

Databarracks has acquired COOLSPIRiT, the UK’s largest Commvault Solution Provider, combining their capabilities to form a stronger data protection and cyber resilience provider. The deal brings COOLSPIRiT’s Commvault and infrastructure expertise into Databarracks’ wider managed backup, public cloud and business resilience services, expanding capability for commercial and public sector customers.

Everfox, a TPG‑backed provider of government and critical‑infrastructure cybersecurity solutions, has acquired Yakabod, Inc, a developer of secure case management software for sensitive investigations and incident response. The deal integrates Yakabod's enterprise case management capabilities into Everfox's EverShield insider risk platform to expand the company's governance and secure case management functionality for government and enterprise customers.

Malwarebytes has acquired AzireVPN, a privacy-focused VPN provider, to strengthen its consumer privacy and VPN capabilities. The deal will allow Malwarebytes to integrate AzireVPN's VPN technologies (including the Blind Operator feature) into its security and privacy product portfolio; terms were not disclosed.

CAST, a new information-security platform founded by Systematic Growth, has added iStorage Holdings (including iStorage Ltd) — which recently acquired U.S.-based Kanguru Solutions — to its group. The deal brings together hardware-encrypted data storage and cloud-security capabilities to expand CAST's global footprint and product offering across government, healthcare and financial end markets.

Health Catalyst has agreed to acquire all equity interests in cybersecurity provider Intraprise Health for an aggregate purchase price of approximately $43 million, funded with a mix of cash and stock (including ~2,200,490 shares). The acquisition will fold Intraprise’s AI-powered cybersecurity and risk-management platform into Health Catalyst’s Ignite data and analytics ecosystem to expand cybersecurity, third-party risk and resilience capabilities for healthcare customers.

CrowdStrike has agreed to acquire Israeli SaaS-security startup Adaptive Shield for a reported ~$300 million. The deal brings Adaptive Shield's SSPM and ITDR capabilities into CrowdStrike's Falcon platform to strengthen SaaS and identity-centered cloud security.

Lumifi, a managed detection and response (MDR) cybersecurity company based in Scottsdale, Arizona, has acquired Critical Insight, a Bremerton, Washington-based incident response and professional services provider. The acquisition expands Lumifi's incident response and professional services capabilities—strengthening its healthcare and critical infrastructure coverage—and brings over 200 customers into Lumifi's combined base.

Compugen Inc., Canada’s largest privately owned technology provider, has acquired SynerSolutions Technologies Inc., a cybersecurity firm focused on defence and federal government work. The acquisition strengthens Compugen’s defence and security cybersecurity capabilities and allows SynerSolutions to scale its services nationally using Compugen’s resources.

Proofpoint, Inc. has signed a definitive agreement to acquire Normalyze, a Data Security Posture Management (DSPM) provider. The acquisition will integrate Normalyze's AI-powered DSPM technology into Proofpoint's human-centric security platform to improve discovery, classification and protection of data across SaaS, PaaS, cloud, on‑prem and hybrid environments; the deal is expected to close in November 2024.

Insight Partners has acquired a majority stake in Detectify, a Stockholm-based Attack Surface Management platform, in a transaction completed in October 2024. The investment will fund product innovation and accelerate growth; Balderton remains a minority stakeholder.

Nomios, a European cybersecurity and secure network services provider, has acquired Dionach, a UK-based penetration testing and cybersecurity consulting firm. The transaction is supported by Keensight Capital, which holds a majority stake in Nomios; the deal strengthens Nomios' consulting, audit and penetration testing capabilities and expands its presence in the UK.

RKON Technologies has acquired Bridge Security Advisors to expand its cloud security, governance-risk-and-compliance (GRC), and identity & access management capabilities for regulated industries including healthcare, finance, and manufacturing. The deal — fueled by RKON's recent private equity backing from Post Capital Partners LLC — will integrate Bridge's team and services under the RKON brand; financial terms were not disclosed.

AI-powered data security provider Cyera has acquired Trail Security, a next-generation data loss prevention (DLP) company, for $162 million. The deal integrates Trail's DLP capabilities into Cyera's Data Security Posture Management (DSPM) platform to create a unified data security offering and bring roughly 40 Trail engineers onto Cyera's team.

Leeds Equity Partners has acquired OffSec, a provider of hands-on cybersecurity workforce training and professional education, from Spectrum Equity. The transaction will support OffSec's expansion of enterprise relationships and investments in content, technology, and education solutions; terms were not disclosed.

Cloudflare, Inc. has acquired Kivera, a cloud security, data protection, and compliance platform, to integrate its preventive controls into the Cloudflare One SASE platform. The acquisition will enable Cloudflare to offer inline, preventive cloud configuration controls that reduce misconfiguration risks, data leakage, and streamline compliance for customers across major cloud providers.

Bocada LLC has acquired JobR, a ServiceNow-certified backup remediation automation solution, from AI software developer Biomni. JobR’s AI-driven remediation capabilities will be integrated into Bocada’s backup monitoring and cyber resilience product lineup, available via the ServiceNow marketplace and as an optional add-on to Bocada Enterprise to improve MTTR and RPO for enterprise customers.

CACI International has acquired Reston, Virginia-based cloud, data and cybersecurity firm Applied Insight from private equity owner Acacia Group in an all-cash transaction. The deal adds Applied Insight’s cloud migration, secure networking and infrastructure modernization capabilities—and its government/DoD and Intelligence Community relationships—to CACI’s portfolio, strengthening the buyer’s cloud and cyber offerings for defense and national security customers.

Bubble, the leading no-code application development platform, has acquired Flusk, a Netherlands-based security and application monitoring tool. The acquisition brings Flusk's guided security audits, real-time error monitoring, log exploration and penetration testing services into Bubble's ecosystem, with the Flusk team joining Bubble and features to be rolled out to users over the next year.

Dragos Inc. has acquired Network Perception, maker of the NP-View OT network visualization and compliance platform, to integrate advanced network visibility, segmentation, and compliance analysis into the Dragos Platform. The acquisition expands Dragos's OT security capabilities—helping customers map real and potential network connections, validate segmentation, and streamline compliance for sectors such as energy, utilities, oil & gas, and manufacturing.

Thoma Bravo has completed its all-cash acquisition of Darktrace in a transaction valued at approximately $5.3 billion, following a recommended Scheme of Arrangement. The private equity firm intends to partner with Darktrace's management to scale the cybersecurity AI platform, invest in R&D and expand its global reach.

CyberArk has completed the acquisition of Venafi, a leader in machine identity management, from private equity firm Thoma Bravo for approximately $1.54 billion in cash and stock. The deal adds Venafi's certificate lifecycle management, PKI and workload identity capabilities (about $150M ARR and ~95% recurring revenue) to CyberArk's identity security platform to create an end-to-end machine identity security offering.