Cybersecurity Mergers & Acquisitions and Capital Markets — June 2023

July 13, 2023

In this article for Industrial Cybersecurity Pulse, Bundy Group provides an update on mergers & acquisitions and capital placement activity in the cybersecurity market. 

Spring 2023 is continuing to show strength and consistency in terms of cybersecurity mergers & acquisitions and capital placement activity in the market. Transactions to note through June include Cisco’s acquisition of Armorblox, CACI’s acquisition of Bitweave and Crosspoint Capital’s acquisition of Absolute Software.

This credible list of buyers and investors highlights the attractiveness and resiliency of the cybersecurity mergers market in an uncertain macroeconomic environment. Bundy Group’s current engagements and upcoming client opportunities include cybersecurity, managed service providers and control system integration, all of which are centered around the field of information security. We look forward to providing relevant updates and closed deal announcements to the Industrial Cybersecurity Pulse audience in the future.

June 2023 cybersecurity mergers and acquisitions


iNovex, a provider of software development solutions focused on cybersecurity, Signals Intelligence (SIGINT), data analysis and robotic process automation (RPA) for the Intelligence Community, acquired Secure Innovations, a leading cybersecurity business serving the Intelligence Community and Department of Defense. Learn more.


Snyk, the leader in developer security, acquired Enso Security, pioneers of the industry’s first Application Security Posture Management (ASPM) solution. The acquisition is subject to customary closing conditions and is expected to close in Q2 2023. Learn more.


Cleveland, Ohio-based CBIZ acquired Pivot Point for $6.6 million. A significant investment underpinning the company’s ongoing commitment to the expansion of their cybersecurity services. Pivot Point has been offering its services to small and medium-sized enterprises since its inception in 2001. Learn more.


Cisco will acquire cybersecurity startup Armorblox Inc. to help protect email, cloud and office applications and enterprise communication systems. The networking giant will take advantage of Armorblox’s natural language processing, predictive and generative artificial intelligence capabilities to help its customers better understand the security risks they face. Learn more.


IBM acquired Polar Security, an innovator in technology that helps companies discover, continuously monitor and secure cloud and software-as-a-service (SaaS) application data — and addresses the growing shadow data problem. Learn more.


Exiger, a SaaS company, acquired Ion Channel, a top software supply chain risk management platform. This acquisition is a significant milestone for SCRM, as Exiger becomes the sole tech company illuminating all aspects of the supply chain, including relationships, products, processes, materials and software. Learn more.


Absolute Software Corp., a publicly traded cybersecurity provider, has agreed to be taken private by Crosspoint Capital Partners in a $657 million deal. Crosspoint is also absorbing the company’s $223 million debt. The acquisition values Absolute Software at $11.50 per share, a 34 percent premium to its May 10 closing price. Learn more.


Cyber security specialist Integrity360 is to expand into the Nordic region with the acquisition of Swedish cyber security company Netsecure for an undisclosed sum. Further acquisitions are also on the cards for the Irish company as it targets expansion across Europe this year. Learn more.


CACI Limited, a leading data and technology solutions company, has acquired Bitweave Limited. Bitweave provides software engineering, data analysis and cyber services to the national security sector. Established in 1975, CACI employs more than 1200 staff in the UK and Europe, providing business information systems to public and private sector clients. Learn more.


Databricks is acquiring the privately-held data governance platform vendor Okera. The plan is for Okera’s technology to be integrated into Databricks’ existing data governance solution, Unity Catalog, providing more AI-powered functionality. Learn more.


Mozilla has acquired Fakespot, a startup that offers a website and browser extension that helps users identify fake or unreliable reviews. The financial terms of the deal were not disclosed. Fakespot’s offerings can be used to spot fake reviews listed on various online marketplaces including Amazon, Yelp, TripAdvisor and more. Learn more.


Smile Identity, a KYC compliance and ID verification partner for many African fintechs and businesses, has acquired Appruve’s parent company (Inclusive Innovations, Inc.). This strategic acquisition will enable us to expand our footprint across Africa and solidify our position as the continent’s leading identity verification and digital KYC provider. Learn more.


Thrive, a premier provider of Cybersecurity, Cloud and Digital Transformation Managed Services, has acquired Storagepipe, a world-class Cloud, Data Protection, Managed Services and Cybersecurity provider based in Toronto, Ontario. Learn more.

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