Cybersecurity M&A Highlights: 29 Deals Revealed in June 2024

In June 2024, a notable 29 merger and acquisition (M&A) transactions took place within the cybersecurity sector, featuring several significant deals.

A study by SecurityWeek indicated over 400 cybersecurity M&A deals in 2023, noting a decrease in both the number and value of disclosed deals.

Below are some of the key cybersecurity M&A deals announced in June 2024:

Everfox Acquires Garrison Technology

Everfox, previously known as Forcepoint Federal, has signed a definitive agreement to acquire Garrison Technology. The acquisition will enable Everfox to utilize Garrison’s hardware-enforced security and software features to enhance its cross-domain, threat protection, and insider risk solutions.

Finite State Acquires MergeBase

Finite State, a software risk management company, has acquired MergeBase, a Canadian supply chain security solutions provider, to establish a leading application security entity. This acquisition will merge Finite State’s advanced binary analysis capabilities with MergeBase’s deep source code analysis, offering customers comprehensive software supply chain visibility and risk mitigation throughout the software development lifecycle.

Formstack Acquires Open Raven

Formstack, a provider of form, document, and eSignature software, has acquired Open Raven, a data management and security firm. This acquisition will allow Formstack to expand its platform to better address data management and security requirements.

Fortinet Acquires Lacework

Fortinet has announced its intention to purchase Lacework, a cloud security startup valued at over $1 billion. This acquisition will immediately update Fortinet’s cloud security offerings by incorporating Lacework’s technologies, which are already in use by 1,000 customers globally.

JFrog to Acquire Qwak AI

JFrog, a company offering a software supply chain platform for DevOps and security, has acquired Qwak AI, an AI application platform. This deal aims to streamline the transition of AI models from development to production, focusing on security aspects.

MajorKey Merges with Clango

Identity security company MajorKey has merged with Clango, a firm specializing in privileged access management and identity governance. This merger is expected to create a leading identity security entity.

Mozilla Acquires Anonym

Mozilla has acquired Anonym, a company focusing on privacy-preserving digital advertising. Mozilla plans to combine its extensive reach and trusted reputation with Anonym’s technology to enhance user privacy and the effectiveness of advertising.

NetSPI Acquires Hubble

NetSPI has acquired Hubble Technology, a company specializing in cyber asset attack surface management (CAASM) and cybersecurity posture management. Integrating Hubble’s Asset Intelligence and CAASM product into the NetSPI platform will provide security teams with complete visibility of their attack surfaces and help them manage asset and exposure challenges effectively.

Tenable to Acquire Eureka Security

Tenable has announced plans to acquire Eureka Security, an Israeli startup in the competitive data security posture management (DSPM) space. This acquisition will strengthen Tenable’s capabilities in data security posture management.

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