Despite the COVID-19 pandemic, cybersecurity mergers and acquisitions this year are on pace with 2019, although it seems there is less appetite to spend big. The ten largest deals in 2019 totaled over $30 billion, whereas the top ten in 2020 have totaled less than $13 billion. The largest deal in 2020 is less than half the size of the largest in 2019. Private equity firms continue to have a large presence in the biggest acquisitions.
Here are the ten largest cybersecurity M&A deals in 2020 so far:
1. Insight Partners buys Veeam for $5 billion
At $5 billion, Insight Partners’ acquisition of Veeam is the largest publicly disclosed cybersecurity deal of 2020. Though more than double the next largest deal in 2020, it is half the size of 2019’s largest (Broadcom’s $10.7 billion acquisition of Symantec’s enterprise business).
As well as new appointments at the executive level within Veeam, the backup and recovery company said it will move its headquarters to the US from Switzerland. New Veeam CEO Bill Largent said at the time Insight’s ownership would “help us achieve the next level of growth for our act II, evolution into hybrid cloud.”
