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Cybersecurity M&A Roundup: 36 Deals Announced in May 2023

Thirty-six cybersecurity-related merger and acquisition (M&A) deals were announced in May 2023.

M&A cybersecurity

Thirty-six cybersecurity-related merger and acquisition (M&A) deals were announced in May 2023.

An analysis conducted by SecurityWeek shows that more than 450 cybersecurity-related mergers and acquisitions were announced in 2022.

May 1-15

Boecore acquires La Jolla Logic

Tech solutions provider Boecore has acquired La Jolla Logic. Both companies provide services to various departments of the US government. Boecore said the deal strengthens its cyber and software development capabilities.

CACI acquires Bitweave

CACI has announced buying Bitweave. Both companies are based in the UK and they both offer technology services, including cybersecurity, to government organizations. 

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Crosspoint Capital Partners acquires Absolute Software

Endpoint security and secure access solutions provider Absolute Software is set to go private following an acquisition by Crosspoint Capital Partners for approximately $870 million.

Databricks acquires Okera

Databricks, a company that has developed a platform for unifying data warehousing and AI, is set to acquire AI-centric data governance platform Okera. Databricks said it acquired Okera for its ability to automatically discover and classify sensitive data and for its new isolation technology. 

GeoComply acquires OneComply

GeoComply, which provides fraud prevention and cybersecurity solutions, is expanding its offering with the acquisition of OneComply, a compliance and licensing management platform designed for companies in regulated markets. Both firms are based in Canada. 

ICR acquires Lumina Communications

Strategic communications and advisory firm ICR has acquired Lumina Communications, a B2B technology-focused PR firm specializing in cybersecurity, enterprise software and IT infrastructure.

Integrity360 acquires Netsecure

Ireland-based Integrity360 has acquired Sweden-based Netsecure in an effort to expand into Europe’s Nordic region. The companies provide managed cybersecurity services, as well as penetration testing, consulting, and risk management. 

Millennium Corporation acquires Maxisiq’s Business Division 

Millennium Corporation has bought Maxisiq’s Ingressive business division, which provides cybersecurity support to US government organizations. The deal expands Millennium’s cyber portfolio. 

Mozilla acquires Fakespot

Mozilla has acquired Fakespot, a firm that specializes in analyzing and identifying fake reviews and counterfeits using AI. Fakespot will continue to work on all major browsers, but Mozilla said it will invest in the project to enhance it. 

Noventiq merges with Corner Growth 

Digital transformation and cybersecurity provider Noventiq is merging with Corner Growth Acquisition Corp, a special purpose acquisition company (SPAC), with the combined company expected to be listed on Nasdaq as NVIQ. The transaction values Noventiq at a pro-forma enterprise value and pro-forma equity market cap of $800 million and $1 billion, respectively.

Oura acquires Proxy

Health-focused smart ring company Ōura has acquired Proxy, best known for its digital identity signal platform, in an all-equity deal that reportedly values Proxy at $165 million. Proxy’s technology, stored on mobile devices, replaces keys, cards, badges, apps, and passwords and is designed to enhance data privacy.

May 16-31

Agile Defense acquires XOR Security

Government IT contractor Agile Defense has acquired XOR Security, a provider of cybersecurity operations and engineering, and virtual security operation center (VSOC) solutions for government and commercial organizations. Agile said the deal helps it bolster its enterprise IT offering. 

Cisco acquires Armorblox

Cisco is in the process of acquiring email security firm Armorblox for its predictive and generative artificial intelligence (AI) technology. The networking giant plans on using the AI technology for more than just email security. 

Data443 acquires Cyren assets

Data security and privacy software company Data443 is acquiring some assets of Israel-based internet security company Cyren, including technology and intellectual property related to email security, threat intelligence and URL categorization. Cyren filed for bankruptcy in February. Data443 is prepared to pay up to $3.5 million in cash and stock for Cyren. 

eMudhra acquires Ikon Tech

India-based company eMudhra is expanding to the United States through the acquisition of Texas-based digital transformation and cybersecurity solutions provider Ikon Tech. In addition to managed cybersecurity services, eMudhra provides certificate lifecycle management, IAM, and other identity and authentication solutions.

Exiger acquires Ion Channel

Supply chain management company Exiger has acquired Ion Channel, a firm that specializes in software supply chain risk management (SCRM). The deal enables Exiger to expand its offering.

GRO acquires majority stake in Curity

Danish private equity fund GRO has announced a significant investment in Sweden-based API-driven IAM solutions provider Curity. The investment will be used to accelerate Curity’s international expansion. The company told SecurityWeek that GRO has acquired a majority stake in Curity.

IBM acquires Polar Security

IBM has announced a deal to acquire Polar Security, an Israel-based early stage startup focusing on data security posture management (DSPM). IBM reportedly paid $60 million for Polar Security. 

Onfido acquires Airside

UK-based automated identity verification solutions provider Onfido has announced acquiring Airside Mobile, a US-based digital identity management firm whose technology is widely used in the travel industry. 

ReliaQuest acquires agent software and engineering assets from EclecticIQ

SOC solutions provider ReliaQuest has acquired the agent software and engineering assets of Netherlands-based threat intelligence, hunting and response technology and services company EclecticIQ. The deal enables ReliaQuest to improve integration speed and capability. 

SGT Capital acquires Elatec

Private equity firm SGT Capital is buying Germany-based secure access management company Elatec, which offers solutions for both physical and cyber access. 


SecurityWeek is tracking deals involving managed security services providers (MSSPs) and distributors separately. Here is a list of deals from May 2023:  

ADNET Technologies acquires Tech II Business Services

Applied Connective acquires Connecting Point

BlueAlly acquires Corporate Armor

Cardone Ventures and FIT Solutions acquire Stryker Networks

Chess acquires CyberLab

DartPoints acquires Venyu

ePlus acquires CCI Systems’ Network Solutions Group

IT Solutions acquires Acropolis Technology Group

Meriplex acquires Systems Solution

NexusTek acquires ICCS

Nostra acquires Definitive Solutions 

Sourcepass acquires Proxios

Sourcepass acquires MachineLogic

The 20 MSP acquires CST

ZainTech acquires Adfolks

Related: Cybersecurity M&A Roundup: 38 Deals Announced in April 2023

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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