1. Deals Analysis
March 17, 2021

North America’s technology industry saw a drop of 16.33% in cybersecurity deal activity during February 2021

By Carmen

North America’s technology industry saw a drop of 16.33% in cybersecurity deal activity during February 2021, when compared with the last 12-month average, led by Palo Alto Networks’ $156m acquisition of Bridgecrew, according to GlobalData’s deals database.

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A total of 41 technology industry cybersecurity deals worth $985.9m were announced for the region in February 2021, against the 12-month average of 49 deals.

Of all the deal types, venture financing saw most activity in February 2021 with 27 transactions, representing a 65.9% share for the region.

In second place was M&A with 12 deals, followed by private equity deals with two transactions, respectively capturing a 29.3% and 4.9% share of the overall cybersecurity deal activity for the month.

In terms of value of cybersecurity deals, venture financing was the leading category in North America’s technology industry with $762.09m, followed by M&A deals totalled $223.82m.

North America technology industry cybersecurity deals in February 2021: Top deals

The top five technology cybersecurity deals accounted for 55% of the overall value during February 2021.

The combined value of the top five technology cybersecurity deals stood at $542m, against the overall value of $985.9m recorded for the month.

The top five technology industry cybersecurity deals of February 2021 tracked by GlobalData were:

1) Palo Alto Networks’ $156m acquisition of Bridgecrew

2) The $105m venture financing deal with TigerGraph by Tiger Global Management

3) 32 Equity, Bond Capital Management, Durable Capital Partners, Enlightened Hospitality Investments, General Atlantic, Liberty Media, LionTree Partners, Revolution Growth and The Partnership Fund for New York City’s $100m venture financing of Secure Identity

4) The $100m venture financing of Axonius by Bessemer Venture Partners, Lightspeed Management Company, OpenView Advisors, Stripes Group and Vertex

5) Access Venture Partners, Noro-Moseley Partners and Summit Partners’ venture financing of Red Canary for $81m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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