Cybersecurity M&A Roundup: SentinelOne Completes PingSafe Acquisition

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February 2024 saw a number of notable merger & acquisition (M&A) deals unveiled in the cybersecurity sector. SentinelOne quickly completed of its purchase of PingSafe, while Delinea made a new acquisition agreement just a month after finalizing a deal for Authomize.

Another big story this month was ZeroFox entering into a definitive agreement to be sold a private equity company Haveli Investments for around $350m.

Security Compass Announces Acquisition of Kontra

On February 1, Security Compass revealed it had acquired application security training software provider Kontra from ThriveDX. The move is designed to enhance Security Compass’ security by design solutions by providing Kontra’s developer training offerings.

SentinelOne Completes PingSafe Acquisition

AI cybersecurity specialist SentinelOne announced that it has completed the acquisition of PingSafe on February 5. The deal will see PingSafe’s cloud-native application protection platform (CNAPP) combined with Sentinel’s AI-powered solutions, providing a unified security platform. The deal was agreed in January 2024.

ZeroFox to be Sold to Private Equity Giant

On February 6, ZeroFox announced it had entered into a definitive agreement to be acquired by private equity firm Haveli Investments for approximately $350m. Haveli plans to facilitate the growth of ZeroFox, a specialist in digital risk protection and threat intelligence. The transaction is expected to close in the first half of 2024.

Entrust Opens Discussions to Acquire Onfido

Payments and identities security firm Entrust revealed on February 7 that it had entered into exclusive discussions to acquire Onfido. The potential deal will enable Entrust to add UK-based Onfido’s AI/ML-based biometric and document IDV tech stack to its portfolio. Any agreement remains subject to regulatory approval.

Cohesity to Merge with Veritas’ Data Protection Business

AI-powered data security company Cohesity announced its intention to combine with Veritas’ data protection business on February 8. The move is designed to combine the companies’ capabilities to offer a comprehensive, multicloud data protection platform. The transaction, which values the combined company at approximately $7bn, is expected to close by the end of 2024, subject to regulatory approval.

Armis Agrees to Acquire CTCI

On February 14, Armis announced an agreement to acquire Cyber Threat Cognitive Intelligence (CTCI), a company specializing in AI-powered pre-attack threat hunting technology. Armis expects to merge the company into its organizations over the following 30 days. The ambition is to create the most advanced early warning cyber intelligence system in the world.

Delinea Enters Definitive Agreement to Purchase Fastpath

Privileged access management (PAM) provider Delinea revealed it had signed a definitive agreement to acquire Fastpath, a specialist in identity governance and administration. Announced on February 21, the deal aims to expand Delinea’s capabilities to enhance privileged access, controls and governments. The acquisition is subject to customary closing conditions, including regulatory review.

Tufin Acquires Network Monitoring Firm AKIPS

Network and cloud security automation firm Tufin announced on February 21 that it had acquired AKIPS for an undisclosed fee. Tufin will now add AKIPS’ network monitoring software to its product portfolio, assisting customers’ speed discovery and resolution time.

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