Cybersecurity M&A Landscape: October 2023 Sees 31 Deals Shaping Industry Dynamics


Cybersecurity M&A Landscape: October 2023 Sees 31 Deals Shaping Industry Dynamics

In October 2023, the cybersecurity industry witnessed a flurry of merger and acquisition (M&A) activities, with a total of 31 deals contributing to the evolving landscape. A comprehensive analysis by SecurityWeek highlights the robust nature of the cybersecurity sector, with over 210 M&A deals announced in the first half of the year.

October 1-15: Key Acquisitions

  1. Arctic Wolf acquires Revelstoke: Arctic Wolf, a Security Operations Center (SOC) company, is set to acquire Revelstoke, a Security Orchestration, Automation, and Response (SOAR) firm. The integration aims to leverage AI and ML models to enhance SOAR capabilities, streamlining response times and reducing manual efforts.
  2. Bastion Security Group acquires Cassini: Bastion Security Group, formed post the acquisition of three New Zealand-based cybersecurity firms, has acquired threat intelligence company Cassini. The combined entity offers a broad spectrum of services, including governance, risk and compliance, penetration testing, consulting, and cloud security.
  3. KPMG acquires IMagosoft: KPMG in Canada expands its Identity and Access Management (IAM) services with the acquisition of IMagosoft, an identity management solution provider.
  4. LOCH Technologies acquires Avirtek:, a wireless threat monitoring company, acquires Avirtek, known for its autonomic cybersecurity (ACS) technology. The deal enhances LOCH’s data detection and response capabilities for predictive AI anomaly detection across networks and data streams.
  5. Lumifi acquires Castra: Managed Detection and Response (MDR) firm Lumifi expands its capabilities by acquiring Castra Managed Services, specializing in the Exabeam SIEM platform.
  6. MC2 Titanium acquires Trustwave: Growth equity firm MC2 Titanium acquires Singapore Telecommunications’ stake in Trustwave for $205 million, consolidating its position in the cybersecurity domain.
  7. Okta acquires Uno: Identity giant Okta accelerates its consumer offerings with the acquisition of Uno, a password manager maker, facilitating the release of Okta Personal—a free password manager.
  8. Tesserent acquires Beyond Binary: Australian cybersecurity firm Tesserent acquires Beyond Binary for $4.4 million, expanding its services in penetration testing, red teaming, attack simulation, and consulting.
  9. Truecaller acquires Unoideo (TrustCheckr): Truecaller, based in Sweden, acquires Unoideo, the developer of TrustCheckr fraud detection service, enhancing its risk intelligence tools for enterprises.
  10. TRM Labs acquires Blockchain intelligence firm TRM Labs acquires to power Chainabuse, a platform for reporting malicious crypto activity.
  11. Zyston acquires Blue Lava: Managed Security Services Provider (MSSP) Zyston acquires security program management SaaS solution Blue Lava, strengthening its Cybersecurity Performance Management (CPM) offering.

October 16-31: Noteworthy Deals

  1. Accenture acquires Mnemo and 6point6: Accenture expands its capabilities with the acquisition of Mnemo, a Mexico-based managed cybersecurity services provider, and 6point6, a UK-based tech consultancy specializing in cybersecurity, cloud, and data.
  2. Cuentas acquires majority stake in WHEN Group: Fintech company Cuentas acquires a majority stake in WHEN Group, integrating its portfolio of cybersecurity solutions into the Cuentas Mobile Platform.
  3. BAE Systems acquires Eurostep: UK defense giant BAE Systems acquires Sweden-based Eurostep, a secure data sharing company, accelerating the development of BAE’s PropheSEA digital asset management suite.
  4. Check Point acquires Rmsource: Check Point Software Technologies acquires Rmsource, a provider of managed security, cloud, and IT services, enhancing its Infinity Global Services.
  5. Cycura acquires Seekintoo and Proack: Cybersecurity business unit Cycura, part of Well Health, acquires Seekintoo, a provider of SOC services, and Proack, specializing in offensive security assessments.
  6. Itsme acquires NextAuth: Digital identity app Itsme acquires nextAuth, a provider of multi-factor authentication and e-signature solutions, enhancing its capabilities in the Belgian market.
  7. Palo Alto Networks acquires Dig Security: Palo Alto Networks enters a definitive agreement to acquire Dig Security, an Israel-based provider of Data Security Posture Management (DSPM) technology, for $400 million.
  8. Proofpoint acquires Tessian: Enterprise security vendor Proofpoint announces plans to acquire email security specialist Tessian, addressing risky user behaviors and reinforcing its position in the email security market.
  9. Redhorse Corporation acquires Allied Associates International (A2I): Redhorse Corporation acquires A2I, a cybersecurity and engineering company, adding a cyber intelligence component to its data analytics, engineering, and AI/ML capabilities.
  10. Rockwell Automation acquires Verve Industrial: Industrial giant Rockwell Automation acquires Verve Industrial Protection, a cybersecurity company specializing in industrial control systems (ICS) and operational technology (OT).

MSSP Deals in October 2023:

  1. Acheron Capital acquires Scientific Software and Systems (SSS)
  2. Climb Global Solutions acquires DataSolutions
  3. Ekco acquires Radius Technologies
  4. Hi-COM acquires Computer Maintenance Agency (CMA)
  5. Magna5 acquires Advanced Network Systems (ANS)
  6. Orro Group acquires NW Computing
  7. Telstra acquires Versent
  8. ZainTECH acquires Specialized Technical Services Company (STS)

As the cybersecurity sector experiences dynamic transformations, these acquisitions underscore the industry’s commitment to innovation and adaptation in the face of evolving threats.

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