Cybersecurity M&A: Proofpoint Finalizes Tessian Acquisition, Palo Alto Buys Israeli Firm

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M&A activities significantly slowed down in October after a busy summer. The biggest highlight of the month comes from California-based security provider Proofpoint, which closed the acquisition of British cloud email security vendor Tessian at the end of the month.

Infosecurity has selected some of the most prominent deals signed in October 2023.

SingTel Sells Stake in Trustwave for $205m

Singapore Telecommunications (SingTel), Southeast Asia's largest telecom company, announced on October 2 it agreed with MC2 Titanium, LLC, to sell its stake in US-based Trustwave for a $205m fee. The divestment is expected to be completed by the fourth quarter of 2023. MC2 Titanium, LLC is part of the Chertoff Group.

KPMG Canada Expands IAM Portfolio with IMagosoft

The Canadian consultancy KPMG announced on October 3 that its Canadian branch had acquired IMagosoft, a Calgary-based identity security firm. The deal settled between the two parties in late September will allow KPMG Canada to expand its identity and access management (IAM) offering. Financial terms were not disclosed.

Okta Buys Password Manager Uno in Personal Digital ID Pivot

Enterprise IAM giant Okta acquired password manager Uno for an undisclosed fee on October 4. Uno’s offering, developed by a former Google engineer and backed by Andreessen Horowitz, will help expand Okta Personal, Okta’s first product dedicated to consumer digital ID.

Read more: Okta Breach Hit Over 130 Customers

Unoideo Technologies’s TrustCheckr Joins Truecaller

Truecaller, a caller ID and spam-blocking app provider, announced on October 6 that it has acquired the India-based company Unoideo Technologies Pvt Ltd. The company provides the service TrustCheckr, a software-as-a-service (SaaS) platform that helps businesses verify customer information and detect the risk of fraud based on phone numbers and digital signals. In 2022, TrustCheckr won the Reserve Bank of India's (RBI's) first global Hackathon in the 'Social media analysis monitoring tool for detecting digital payment fraud and disruption' category. The specifics of the financial agreement were not revealed.

Arctic Wolf Reveals Interest in Buying SOAR Provider Revelstoke

Arctic Wolf announced on October 10 its intent to buy Revelstoke, a US-based company providing a low-code security orchestration and automated response (SOAR) platform. With this acquisition, the incident response firm said it now aims to accelerate security operations efficiency through automation and AI. The financial details surrounding the deal were not made public.

Blockchain Intel Platform TRM Labs Acquires

TRM Labs, which provides blockchain intelligence solutions, announced on October 11 that it has acquired for an undisclosed amount. This new service will help TRM to power Chainabuse, a reporting platform for malicious crypto activity.

Proofpoint Completes Acquisition of Tessian

Although Thoma Bravo is not directly involved in any of our selected M&A deals of the month, one of its subsidiaries, Proofpoint, is. The enterprise security provider announced on October 30 that it had acquired Tessian, a UK-based cloud email security provider, for an undisclosed fee. Tessian has raised approximately $128m since launching in 2013 and was last valued at $500m after its Series C funding round.

Palo Alto Buys Israeli Firm Dig Security

Palo Alto Networks has entered into a definitive agreement to acquire Dig Security, an Israel-based data security posture management (DSPM) technology provider. After the acquisition, Dig’s capabilities will be integrated with Palo Alto’s Prisma Cloud platform. Although financial details of the deal were not disclosed, they could surface when the US cybersecurity giant reports earnings in November.

Read our M&A roundup for September 2023:  Cisco Breaks Record, Thoma Bravo Buys Again

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