February's M&A News Roundup

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Following a subdued start to 2023, February was another quiet month in terms of M&A in the cybersecurity industry. The most notable deals involved private equity firm Francisco Partners and consultancy Accenture. Here is Infosecurity’s roundup of the most significant M&A news that emerged in the shortest month of the year.

Almond Acquires Fellow French Firm Amossys

French consultancy and audit service provider Almond announced on February 1, 2023, that it was acquiring 100% shares of fellow French consultancy firm Amossys. Founded in 2007, Amossys is qualified by the French cybersecurity agency (ANSSI) to carry out security evaluations of cybersecurity products as part of the CSPN (First Level Security Certification) and according to the Common Criteria (CC).

Wavenet Purchases Fellow Brit Firm Fidus Information Security

Telecommunications and cybersecurity company Wavenet, based in the West Midlands, UK, has acquired Cambridge-based penetration testing firm Fidus Information Security for an undisclosed amount. The deal was announced on February 2, six months after Wavenet’s acquisition of two OGL Computer Support Holdings cybersecurity subsidiaries. Fidus hold numerous recognized certifications, including National Cyber Security Centre (NCSC) CHECK approval and Crest accreditation.

SIEM Provider Sumo Logic to be Acquired by Francisco Partners

Private equity firm Francisco Partners has entered into a definitive agreement to add Sumo Logic, a cloud monitoring, log management, SIEM and SOAR solutions provider, to its portfolio. The deal was announced on February 9 and involved a fee of $1.7bn. The law firm Kahn Swick & Foti is investigating whether the price is adequate.

Brazil-Based Morphus Joins Accenture

Consultancy firm Accenture announced on February 13 that it was acquiring Morphus, a Brazilian cyber defense, risk management and cyber threat intelligence services provider, for an undisclosed fee. With this acquisition, Accenture is expanding its practice capabilities in Latin America.

Network Intelligence Expands to IAM With Ilantus Technologies

New York-based firm Network Intelligence, which specializes in security assessment, acquired the services business of Ilantus Technologies, an Indian provider of identity and access management (IAM). The company's services are used by several Fortune 500 companies and government organizations worldwide. The deal was announced on February 13. Financial terms were not disclosed.

Zscaler Buys Israeli startup Canonic Security

Cloud security provider Zscaler announced on February 14 that it was entering talks to acquire Israeli early-stage startup Canonic Security. Canonic’s platform is designed to prevent organizations' growing risks of software-as-a-service (SaaS) supply chain attacks. “By integrating the new supply chain security capabilities into its data protection services, Zscaler strengthens its cloud access security broker (CASB) and SaaS security posture management (SSPM) offerings enabling companies to consolidate point products reducing cost, and simplifying management,” Zscaler said in a statement. The financial terms of the transaction were not disclosed.

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