As we head into Q4 of 2024 the question rises, how will this year compare to the last few years when it comes to mergers and acquisitions in the cybersecurity market? Tool sprawl has been a frequent complaint among service providers. Some say their tool stacks have increased the complexity of their vendor management efforts with 20-plus companies to manage. Some vendors are pitching their all-in-one cybersecurity platforms as the answer to that issue.
Today we are seeing a flurry of deals in the cybersecurity market including the completion of an acquisition by private equity firm Thoma Bravo as the company also completes the sale of another portfolio company. Meanwhile, in strategic acquisitions Check Point has completed its acquisition of another cybersecurity company.
We’ve also got news about Menlo Security’s momentum, a report on API security gaps, a new partnership on identity as well as some new educational programs offered by the U.S. Cybersecurity and Infrastructure Agency.
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Today's MSSP Market Update
1. Thoma Bravo buys Darktrace - Darktrace’s acquisition by Thoma Bravo is now complete. The cybersecurity company was acquired for $5.3 billion
2. Thoma Bravo sells Venafi - CyberArk has completed its acquisition of Venafi, a machine identity management company, from Thoma Bravo. The $1.5 billion acquisition expands CyberArk’s total addressable market by up to $60 billion.
3. Strategic acquisition completed - Check Point has completed its acquisition of Cyberint, a provider of external risk management solutions. The company says the deal will help it with AI-driven external management for security operations.
4. Security company momentum - Menlo Security, a secure enterprise browser provider, has surpassed $100 million in annual recurring revenue (ARR) and achieved 50% growth in the last 24 months, the company reports. More than 1,000 global enterprises and government agencies are now among Menlo Security’s customers.
5. API security gaps - A new report from F5 reveals gaps in the current state of application programming interface (API) security, considered the backbone of digital transformation efforts. Among the findings are that less than 70% of customer-facing APIs are secured.
6. Identity services partnership - Xalient, a global provider of expert advisory and managed services in identity, cybersecurity, and networking, has forged a partnership with SailPoint, a provider of identity security solutions. The strategic partnership combines Xalient’s 24/7 managed services expertise and global reach with SailPoint’s unified identity security solutions.
7. Educational efforts launched - CISA is offering two new collaborative education efforts: the CyberSkills2Work program and new micro-challenges on Try Cyber. Both efforts were designed to help individuals launch or advance cybersecurity careers.
8. Chat bot for identity misconfigurations - DMARC and domain protection provider Red Sift has launched a large language model called Radar. The company says the AI-powered chat interface helps security teams identify misconfigurations and exposures across the entire attack surface and provides detailed and actionable guidance to troubleshoot.
Looking for more news and a list of industry events? Check out the daily news column on our affiliate site ChannelE2E here.
