Cybersecurity M&A by Deal Count and Volume
(In Billions of USD)
$75.4
166
158
$64.7
142
128
125
111
109
108
107
99
129
94
$28.8
$17.3
$14.1
$9.8
$8.6
$7.9
$6.4
$4.6
$2.7
$2.2
2021 Q3
2021 Q4
2022 Q1
2022 Q2
2022 Q3
2022 Q4
2023 Q1
2023 Q2
2023 Q3 2023 Q4
2024 Q1
2024 Q2
Total Deal Size in ($B)
Deal Count
• M&A volume in cybersecurity software has boosted in LTM Q2 2024, reaching a total deal value of $103.9B – This represents a 36.6% YoY growth in deal size. However, the deal count fell by 12.3% indicating an increase in average transaction value • 174 strategic deals took place, which represented 56.7% of all deals done – By deal size, these transactions represented 78.1% of the entire pool, depicting aggressive inorganic growth and overall industry consolidation • M&A deals in the lower middle market ($10-$100 million) represented 10.0% of all transactions, a 66.8% increase YoY
Source: Pitchbook as of June 2024.
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