M&A activity in the Security sector saw 268 deals during the first nine months of 2024. That’s already 51 more deals than in all of 2023. PE firms were buyers in 44% of these transactions as demand for Security companies was robust from strategic and financial acquirers.

Through September 2024, total disclosed M&A transaction values reached $18.4B, exceeding levels seen in 2023.

Looking at VC funding, during the first three quarters of 2024 these investments remained well below peak levels seen in 2021, encouraging companies to instead pursue M&A strategies for growth and liquidity.

Through September, strategic companies were the top acquirers. Unico made 3 acquisitions followed by Sixgen and Fortinet which made 2 acquisitions each.