德安华（Kroll）：2025年秋季全球网络安全软件行业估值和并购交易报告（英文版）（18页）.pdf

1、Fall 2025Cybersecurity SectorM&A Industry Insights2Cybersecurity SectorCybersecurity M&A activity accelerated markedly in Q3 2025,with 70 deals totaling$27.1 billion in disclosed deal value and pushing the year-to-date deal count to a record 234.Deal value in the quarter was dominated by Palo Alto N

2、etworks$24.1-billion acquisition of CyberArk,bringing the year-to-date deal value to$63.3 billion,and just$13.8 billion below the record of$77.1 billion set in 2021.The CyberArk acquisition underscored identity managements strategic importance to CISOs,particularly as agentic AI and IoT adoption pro

3、pel machine and device identities to the center of enterprise risk management.Several major deals spotlighted the sectors shift to AI-first security solutions,including Check Points acquisition of Lakera,F5s buyout of Calypso AI,and Sentinel Ones purchases of Prompt Security and Observo.ai.The other

4、 notable theme in the quarter was IoT coming to the fore in the wake of expanding device deployments with Mitsubishis acquisition of OT security leader Nozomi Networks.In cybersecurity services,Accentures acquisition of CyberCX signaled accelerating convergence between automation and human expertise

5、managed detection and response,threat intelligence and incident responsedriving services M&A,particularly as AI becomes integral to the MSSP ecosystem.Notably,high-profile breaches,such as the estimated$2.5-billion Jaguar Land Rover incident during the quarter,amplified urgency for investment in com

6、prehensive cybersecurity platforms.Meanwhile regulatory tailwindsincluding the SECs cyber disclosure rules,the Digital Operational Resilience Act(DORA)in the EU,and the UKs Cyber Security&Resilience Billare increasingly also shaping M&A activity as buyers target governance,risk and compliance soluti