The cybersecurity landscape underwent a significant transformation in 2025, marked by a wave of consolidation that saw eight major acquisitions exceed the $1 billion threshold.
SecurityWeek has cataloged more than 420 M&A deals in 2025, slightly more than in 2024.
A dozen of the acquisitions involving pure-play cybersecurity firms surpassed $500 million, including eight deals that topped $1 billion.
The total disclosed value for all M&A deals announced in 2025 exceeds $84 billion, and the $1 billion-plus transactions account for nearly $75 billion.
After a deal fell through in mid-2024, Google’s acquisition of cloud security giant Wiz was revived in March 2025. The $32 billion all-cash deal is expected to be completed in 2026, with the DOJ clearing it in November 2025. While Wiz will help Google Cloud expand and enhance its capabilities, the internet giant said Wiz products will remain accessible across all major cloud platforms.
Palo Alto Networks is acquiring CyberArk, Chronosphere acquisition completed
The second-largest M&A deal announced this year is Palo Alto Networks’s acquisition of identity security firm CyberArk for $25 billion. The acquisition is pending, but shareholders recently approved the deal that marks Palo Alto’s formal entry into the identity security space.
In addition, Palo Alto Networks has completed the acquisition of observability platform Chronosphere for $3.35 billion. Chronosphere technology is being integrated into Palo Alto’s Cortex AgentiX platform.
ServiceNow to acquire Armis and Veza
ServiceNow has two major acquisitions pending. ServiceNow’s largest acquisition to date targets Armis, a company specializing in solutions that enable enterprises to discover IT, OT, and IoT assets in their environments. While the agreement is signed, the $7.75 billion cash deal won’t fully close until the second part of 2026.
ServiceNow is reportedly acquiring the identity security firm Veza for $1 billion. The goal is to extend the capabilities of its security and risk portfolios, strengthening identity and access controls across applications, data, cloud, and AI agents.
Francisco Partners to acquire Jamf
Private equity firm Francisco Partners is expected to close soon on its $2.2 billion acquisition of Apple device management and security firm Jamf. Once the deal is completed, Jamf will become a privately held company and its shares will no longer be publicly listed. The firm will continue to operate as Jamf.
Veeam Software acquires Securiti AI
Data portability and resilience solutions provider Veeam Software recently completed the acquisition of data security posture management (DSPM) company Securiti AI for $1.725 billion. The acquisition unifies data resilience with DSPM, privacy, governance, and AI trust across production and secondary data.
Proofpoint acquires Hornetsecurity
Proofpoint recently completed its $1.8 billion acquisition of Germany-based Hornetsecurity in a move to dominate the European Microsoft 365 security market, adding nearly $200 million in ARR to its portfolio.
Other noteworthy cybersecurity M&A deals
Turn/River Capital acquires SolarWinds
Observability and IT management solutions giant SolarWinds has been acquired by private equity firm Turn/River Capital for roughly $4.4 billion in cash. While this deal exceeded $1 billion, it is excluded from our primary cybersecurity M&A list as SolarWinds is classified as an IT operations firm rather than a pure-play cybersecurity provider.
Mitsubishi Electric to acquire Nozomi Networks
Industrial and technology giant Mitsubishi Electric is in the process of buying OT and IoT cybersecurity company Nozomi Networks in a deal that values the industrial cybersecurity firm at nearly $1 billion. Mitsubishi Electric already owns a 7% stake in Nozomi after participating in its $100 million Series E funding round in 2024, and it’s now set to pay $883 million in cash for the Nozomi shares it does not already own.
Zscaler has acquired managed detection and response (MDR) firm Red Canary for approximately $675 million. Red Canary, which enables Zscaler to expand its SOC capabilities, will initially operate as a separate business unit within Zscaler.
SecurityWeek will publish a detailed analysis of the 2025 cybersecurity M&A deals in January 2026.
