网络安全软件行业并购行业洞察——2025年春季

CybersecuritySoftware Sector Spring 2025M&A Industry Insights Learn More Cybersecurity Software Sector M&A Industry Insights, Spring 2025 Cybersecuritycontinues to demonstrate strong,resilient growth in 2025,driven by rising threat complexity,increasing regulatory pressure andenterprisedemandforintegrated,AI-enabledplatforms.M&Aactivityremainshigh(withQ1’sannualizeddealcountinlinewith2024’srecorddealvolume)asstrategicbuyersandinvestorsconsolidatecapabilitiesacrosskeydomains–cloudsecurity,exposuremanagement,identityandSecOps–positioningthemselvestomeetevolvingenterpriseneedsandcapitalizeoncross-platformvalue. High-profiletransactions,mostnotablyGoogle’srecord$32billionacquisitionofWizinMarch,reflectenterprisepriorities:reducingtechnologystackcomplexity,shiftingtoproactivethreatpreventionandsecuringtheexpandingcloudecosystem.Investorsarefocusedonplatformvendorsthatofferdifferentiatedcapabilitiesinfast-growingcategorieslikeCloud-NativeApplicationProtectionPlatforms(CNAPP),DataSecurityPostureManagement(DSPM)andnext-genSIEM. Kroll’s2025FinancialCrimeReporthighlightstheurgencybehindthesemoves:71%ofexecutivesexpectfinancialcrimerisktoincreasethisyear,withcybersecurityandcriminaluseofAIcitedastopdrivers.Nearlyhalfofsurveyedorganizationshaveincreasedtheircybersecuritybudgets,whileregulatorymandatesliketheEU’sDigitalOperationalResilienceAct(DORA)andNIS2DirectiveareacceleratingsecurityinvestmentsacrossEurope. GenerativeAIremainsakeytheme.EnterprisesarelookingforsolutionsthatcanbothmitigatenewAI-drivenattackvectorsandharnessGenAItoimproveinternalsecurityoperations–fromdetectionandtriagetoincidentresponse.Vendorsthatcandeliverbotharegainingmeaningfultraction. ExposureManagement is emerging as one of the fastest-growing market segments,encompassing vulnerability management,attack surfacemonitoringanddigitalriskprotection.Theshifttowardcontinuousthreatexposuremanagement(CTEM)reflectsabroadermovefromreactivedefensetopreemptiveriskmitigation.Otherdomainswhereweexpecttoseecontinuedgrowthincludeidentitymanagement,datasecurity,operationaltechnologyandcyber-physicalsecurity,post-quantumreadinessandfurtherevolutionintheSecOpsspace. Forinvestors,cybersecurityin2025representsadynamic,high-growthsectordrivenbystructuraldemand,platformconsolidationandcontinuousinnovation–makingitoneofthemostcompellingareasforlong-termstrategicallocation. 2 Cybersecurity Market Overview Cybersecurity represents a large $200bn+ market Market trends Exponential growth of data The rapid increase in security-related data is overwhelming traditional tools and analysts, requiringadvanced analytics and automation for effective processing. Security teams are struggling to monitor themassive volume of telemetry across their expanding infrastructure, underscoring the urgent need forsophisticated data processing and threat detection tools Increasing sophistication of threat actors While AI developments have allowed IT teams to streamline threat detection and response processes,they have also allowed cybercriminals to employ increasingly complex and multi-staged attacktechniques. These capabilities have potential to evade traditional security measures, orchestrating moretargeted, persistent threats From “threat management” to “risk management” In the face of an ever-increasing threat landscape, practitioners are shifting from “threat management" to"risk management," adopting a more comprehensive approach that assesses and prioritizes threats inrelation to business outcomes, critical systems and broader enterprise risks and investments Human risk management (HRM) HRM has emerged as a critical risk factor, recognizing that the expanded digital workplace and complexmodern communications have vastly increased the human attack surface. This approach goes beyondtraditional security awareness training to address a wide range of human-related risks, including error,privilege misuse and social engineering Consolidation of vendors and tech stacks Layered infrastructure security stacks are increasing the challenges of security configuration management,leaving organizations with security control gaps. Platforms with modular sets of integrated securityproduct capabilities are increasingly in demand, leading to consolidation between security vendors, withlarger players utilizing M&A to build security platforms focused on broader domains M&A Industry Insights Q1 2025 Cybersecurity Software M&A Deal value in Q1 2025 already exceeds 90% of 2024's total value due to Google's acquisition of Wiz Case Study: Google’s Acquisition of Wiz The largest ever private technology company deal to bolster and revolutionize cloud security andmulticloudoffering Target Overview ▪Wizisaglobalproviderofcloudsecuritysoftwaresolutionstohealthcare,lifesciences,financialservicesandothers▪Itsunifiedplatformofferssoftwarewithfeaturesforthreatintelligence,cloud-nativeapplicationprotection,riskassessment,rootcauseanalysis,inventoryandassetmanagement,vulnerabilityandpatchasses