September 2024 saw a plethora of high-profile merger and acquisitions (M&A) announcements, following a relatively quiet Summer period.
A major theme was global powerhouse firms boosting their cybersecurity capabilities through strategic acquisitions. These included announcements from payment card service giants Visa and Mastercard and aircraft manufacturer Airbus.
Here is Infosecurity’s M&A highlights from September.
CSIS Announces Acquisition of Security Alliance
On September 4, CSIS Security Group said it had acquired cybersecurity intelligence provider Security Alliance, which works with critical sectors like finance and governments. The transaction is designed to develop CSIS’ abilities to provide actionable, intelligence-driven cybersecurity services to European organizations. The financial terms of the deal have not been announced.
Airbus Completes Infodas Purchase
Airbus Defence and Space revealed it had completed the acquisition of Infodas, a German based cybersecurity and IT solutions provider for defense and critical infrastructure sectors, on September 5. The deal, which was first announced in March 2024, is part of Airbus’ development of its cybersecurity capabilities across its ecosystem. Infodas will now become an Airbus subsidiary. The financial terms of the transaction have not been disclosed.
Absolute Security Acquires Syxsense
Absolute Security announced on September 5 that it had acquired automated endpoint and vulnerability management specialise Syxsense for an undisclosed amount. Syxsense’s solutions will now be integrated into the Absolute Cyber Resilience platform to help customers ensure that operating systems (OS), applications and critical security controls are always up to date.
Kiteworks Buys 123FormBuilder
Kiteworks, formerly Accellion, announced the acquisition of Romania-based 123FormBuilder, a provider of advanced data collection through secure web forms and form-driven private content workflows, on September 5. The deal is designed to boost Kiteworks’ ability to protect sensitive content across their entire content communications ecosystem. The announcement follows the company’s recent $456m growth equity investment.
Permira Completes $1.3bn Majority Stake in BioCatch
On September 9, private equity firm Permira announcement it had completed a majority stake in BioCatch, at a $1.3bn valuation. The transaction aims to accelerate the global expansion of BioCatch’s digital fraud detection and financial crime prevention solutions. The deal was originally agreed in May 2024.
ConnectWise Unveils Double Acquisition
Software firm Connectwise announced two cybersecurity M&A deals on September 10, as it seeks to enhance its cybersecurity and data protection offerings. Connectwise has entered into a definitive agreement to acquire Axcient, with the transaction expected to close in October 2024. In addition, it acquired SkyKick, a pioneer and leader in cloud backup and management software. The financial terms of the deals have not been disclosed.
Mastercard Reaches $2.65bn Deal to Buy Recorded Future
On September 12, Mastercard revealed it had reaching an agreement to acquire threat intelligence company Recorded Future from Insight Partners for $2.65bn. Mastercard said the real-time visibility into potential threats provided by Recorded Future will complement Mastercard’s identity, fraud prevention, real-time decisioning and cybersecurity services. Recorded Future CEO Christopher Ahlberg emphasized that the company will remain an “independent and open” intelligence platform. The deal is expected to close by the first quarter of 2025.
Commvault to Acquire AWS Specialist Clumio
Cloud cybersecurity firm Commvault announced on September 25 that it will acquire Clumio, a technology leader in data protection for critical cloud data in AWS. The transaction is designed to enable Commvault to provide cyber resilience to next-generation applications built on AWS. The acquisition is expected to close in early October 2024, and will be immediately accretive to ARR and revenue, and accretive to free cash flow within the next three quarters.
NetGuardians Acquired by Summa Equity
Private equity firm Summa Equity announced on September 26 it had acquired AI-driven fraud prevention and anti-money laundering solutions specialist NetGuardians. The deal reflects Summa’s focus on advancing the financial security landscape by driving the development of next generation financial crime solutions. The financial terms of the deal have not been announced.
Visa Reaches Definitive Agreement to Acquire Featurespace
Payment card services provider Visa announced an agreement on September 26 to purchase Featurespace, a developer of real-time AI payments protection technology. The deal will strengthen Visa’s global portfolio of fraud detection and risk-scoring solutions. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals, and is expected to close in the fiscal year 2025. The financial terms have not been disclosed.