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As the digital world expands, the risk of cyberattacks is increasing, and security experts must stay vigilant to safeguard against potential breaches. Acquisitions in the cybersecurity field provide access to advanced technologies, new talent, and threat intelligence, allowing companies to strengthen their overall security posture and offer more comprehensive solutions to clients.
The cybersecurity market is set to grow from $153.6bn in 2022 to $424.9bn in 2030. Mergers and acquisitions (M&A) in the cybersecurity space are influenced by risk aversion, high asset values, and capital costs. Limited international support also prompts cybersecurity firms to merge to meet market demands.
Here are the top 10 prominent cybersecurity acquisitions of 2023:
- Cisco acquired Splunk for $28 billion in cash, aiming to bolster AI-enabled security. The merger accelerates Splunk’s growth and encourages innovation and global expansion.
- Broadcom acquired VMware to blend Broadcom’s engineering with VMware’s cloud expertise, promising agility in the digital era.
- Accenture acquired Innotec Security, a Spanish cybersecurity-as-a-service provider, to strengthen its cybersecurity capabilities and market presence in Spain.
- Thales acquired Imperva, a US cybersecurity firm known for data and app security, to boost Thales’ presence in the app security market.
- SentinelOne acquired Krebs Stamos Group, a strategic advisory group led by cybersecurity experts Krebs and Stamos, to enhance SentinelOne’s security capabilities.
- IBM acquired Polar Security, a company focusing on cloud and AI capabilities, to address the surge of “Shadow Data” amid COVID-19.
- Proofpoint acquired Tessian to enhance its email data loss prevention service and mitigate accidental and malicious data loss.
- Okta acquired Spera Security to uncover threats within SaaS and infrastructure applications and address phishing and social engineering challenges.
- Cisco acquired Isovalent, a pioneer in open-source cloud-native networking, to reshape cyber risk management across diverse cloud infrastructures.
- Check Point acquired Perimeter 81 to accelerate secure access adoption globally and enhance its unified solution for network, cloud, and remote users.
These acquisitions demonstrate the commitment of major companies to strengthening their cybersecurity capabilities and staying ahead of evolving threats. They also highlight the increasing importance of advanced technologies, talent acquisition, and threat intelligence in the cybersecurity industry.
