October’s M&A News Roundup

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October 2022 saw several high-value M&A transactions involving major cybersecurity companies take place. These included private equity companies reaching definitive agreements to purchase security training firm KnowBe4 and access management specialist ForgeRock. Here is Infosecurity Magazine’s roundup of M&A stories that hit the headlines this month.

Deloitte Adds Australian Cyber Specialist Hacktive to Portfolio

Professional services giant Deloitte added to its cybersecurity offering with the purchase of the boutique Hacktive on October 4. The Hacktive team will join Deloitte as a partner and principal, and will provide 24-hour threat detection and issue resolution services to customers. The deal shortly follows Deloitte launching its cyber-managed services business in Australia.

Blue Hexagon AI Assets to Be Added to Qualys Cloud Platform

Silicon Valley-based Qualys announced on October 4 it had acquired Blue Hexagon’s AI and machine learning technology. Its Cloud Threat Detection and Response solutions will help enhance the capabilities of the Qualys Cloud Platform. The purchase price was paid predominantly in cash, with a portion delivered in the form of stock subject to certain vesting conditions.

11:11 Systems Acquires Sungard Availability Services

Managed infrastructure solutions provider 11:11 Systems entered into an asset purchase agreement to acquire Sungard Availability Services’ Recovery Services business. The deal, which was announced on October 5, is expected to be completed later this Autumn. The announcement followed 11:11’s agreement to purchase Sungard Availability Services’ cloud-managed services business in August.

Infinigate to Merge with Starlink

Swiss-based cybersecurity firm Infinigate announced a merger with Dubai-based company Starlink (not to be confused with the satellite). The combined cybersecurity company will have projected annual sales of $2.2bn and extend Infinigate’s footprint to more than 50 nations. Following the merger, Starlink will operate under the Infinigate Group banner.

ForgeRock to be Acquired by Thoma Bravo

On October 11, private equity giant Thoma Bravo announced it had entered into a definitive agreement to purchase ForgeRock for an all-cash transaction of approximately $2.3bn. The acquisition of the identity and access management (IAM) firm is expected to close in the first half of 2023, subject to customary closing conditions.

Vista Equity Partners Agrees Deal to Purchase KnowBe4

Security awareness and training company KnowBe4 entered into a definitive agreement to be acquired by private equity firm Vista Equity Partners for a fee of approximately $4.6bn. The deal, agreed on October 12, is expected to provide KnowBe4 with additional resources and support. It is expected to be completed in the first half of 2023.

Booz Allen Completes Acquisition of EverWatch

IT consultancy Booz Allen Hamilton completed its acquisition of EverWatch on October 14, around seven months after the transaction was announced in March 2022. The transaction will boost Booz Allen’s capabilities and expertise in software development, cloud, analytics, AI and machine learning.

Babble Acquires Activereach

On October 14, UK cloud services firm Babble added to its security business with the acquisition of cybersecurity company Activereach. The deal represents Babble’s seventh acquisition of 2022, as it seeks to strengthen its cybersecurity expertise for its growing customer base.

Thoma Bravo Completes Purchase of Ping Identity

Thoma Bravo completed its acquisition of identity access management firm Ping Identity on October 18, just two months after first announcing the deal. The transaction is valued at around $2.8bn, and is the latest of Thoma Bravo’s move into the cybersecurity market. Last month, the private equity firm’s proposed takeover of Darktrace was cancelled.

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