Top cybersecurity vendors in the world spent nearly $3 billion on acquisitions in the first half, driven by their platform ambitions. Acquisitions of CNAPP, DSPM and SIEM vendors highlight the importance for platform vendors to have analytics, data, and cloud security capabilities, reports Canalys.
Of the 40 cybersecurity vendors tracked by Canalys, they announced a total of 11 acquisitions in H1 2024.
Total investment in acquisitions was estimated to be US$2.8 billion, which was up nearly 300% from a year ago.
Overview of acquisitions by major cybersecurity providers
CyberArk made the largest acquisition in its history, with the $1.54 billion purchase of machine identity management specialist Venafi.
Palo Alto Networks acquired IBM QRadar for $500 million.
Zscaler spent $310 million on Avalor Security, a Zscaler Company as well as buying Airgap Networks Inc. (Acquired by Zscaler).
Fortinet acquired Lacework for $150 million.
CrowdStrike snapped up Flow Security for $115 million.
