While there was a relatively small volume of cybersecurity merger and acquisition (M&A) announcements in July 2024, several high-profile deals hit the headlines.
The biggest story related to an acquisition that did not happen – Google’s proposed $23bn takeover of Israeli cloud security firm Wiz, which was reportedly rejected.
Here is Infosecurity’s M&A roundup for the month of July:
KnowBe4 Completes Egress Acquisition
On July 9, KnowBe4 announced it had completed the acquisition of email security specialist Egress, after customary closing conditions and regulatory approvals were completed. The definitive agreement was announced in April 2024.
KnowBe4 now plans to integrate the recently acquired Egress products and operations over the coming months. The financial terms of the deal have not been disclosed.
Neovera Announces Acquisition of Emagined Security
Neovara revealed it had acquired Emagined Security, which specializes in information security and compliance services in highly regulated industries, on July 17.
With the acquisition, Neovara aims to extend its current security operations center (SOC) operations across the US, especially within the financial, healthcare and government markets. The financial terms of the deal have not been disclosed.
Exabeam and LogRhythm Complete Merger
Cybersecurity providers LogRhythm and Exabeam completed their planned merger on July 17, which was first announced in May 2024. The unified company will use LogRhythm and Exabeam’s respective capabilities to create an AI-driven security operations platform. The leadership team has also been unveiled, comprised of executives from both firms and headed up by Exabeam’s CEO Christopher O’Malley.
Wiz Rejects $23bn Offer from Google
In mid-July, it was reported that Google’s parent company Alphabet was in advanced talks to buy Israeli cloud security firm Wiz for an estimated $23bn.
However, a week later, it was reported that Wiz had rejected the offer as the company had decided to pursue an initial public offering, as originally planned. It is believed that antitrust and investor concerns played a part in the deal falling apart.
Mimecast Acquires Code42
On July 24, email security specialist Mimecast unveiled a major development in its journey with the acquisition of Code42, an insider threat management and data loss prevention company. Mimecast will leverage Code42’s capabilities to expand its Human Risk Management (HRM) platform with visibility into insider threats. The financial terms of the deal were not disclosed.
Exiger Purchases aDolus to Expand Supply Chain Visibility
Exiger announced the acquisition of supply chain visibility platform aDolus Technology on July 30. The deal is designed to enhance Exiger’s software supply chain visibility by integrating aDolus’ ability to generate software bills of material (SBOMs) and analyze binary for software provenance. The financial terms of the deal were not disclosed.
ProtectAI to Acquire GenAI Attack Simulation Company
AI security specialists ProtectAI has agreed a deal to acquire SydeLabs, a company focused on automated attack simulation of generative AI systems. The acquisition, announced on July 31, is designed to enhance ProtectAI platform’s ability to rest and improve large language model (LLM) security. The financial terms of the deal were not disclosed.