In October 2023, the M&A landscape experienced a slowdown compared to the busy summer months. However, there were still some notable deals that took place during the month. One of the most significant acquisitions was made by Proofpoint, a California-based security provider, who successfully closed the acquisition of Tessian, a British cloud email security vendor, at the end of the month.
Here are some of the key M&A deals that made headlines in October 2023:
- SingTel Sells Stake in Trustwave for $205m
Singapore Telecommunications (SingTel) announced on October 2 that it had reached an agreement with MC2 Titanium, LLC to sell its stake in Trustwave, a US-based company, for $205 million. This divestment is expected to be finalized by the fourth quarter of 2023. MC2 Titanium, LLC is affiliated with the Chertoff Group. - KPMG Canada Expands IAM Portfolio with IMagosoft
KPMG’s Canadian branch acquired IMagosoft, an identity security firm based in Calgary, on October 3. This strategic move will enable KPMG Canada to enhance its identity and access management (IAM) offerings. The financial terms of the deal were not disclosed. - Okta Acquires Password Manager Uno
On October 4, Okta, a leading enterprise IAM company, acquired Uno, a password manager developed by a former Google engineer and supported by Andreessen Horowitz. This acquisition will help Okta expand its consumer digital ID offering through Okta Personal. - Unoideo Technologies’s TrustCheckr Joins Truecaller
Truecaller, a provider of caller ID and spam-blocking services, announced on October 6 that it had acquired Unoideo Technologies Pvt Ltd, a company based in India. Unoideo Technologies is known for its TrustCheckr service, a software platform that helps businesses verify customer information and detect fraud risks. The financial terms of the agreement were not disclosed. - Arctic Wolf Announces Intent to Acquire SOAR Provider Revelstoke
Arctic Wolf revealed on October 10 its intention to acquire Revelstoke, a US-based company offering a security orchestration and automated response (SOAR) platform. Through this acquisition, Arctic Wolf aims to enhance security operations efficiency through automation and AI. - TRM Labs Acquires Bitcoinabuse.com
TRM Labs, a provider of blockchain intelligence solutions, announced on October 11 that it had acquired Bitcoinabuse.com to power Chainabuse, a reporting platform for malicious crypto activity. The financial details of the acquisition were not disclosed. - Palo Alto Networks Acquires Dig Security
Palo Alto Networks entered into a definitive agreement to acquire Dig Security, an Israel-based data security posture management (DSPM) technology provider. Following the acquisition, Dig’s capabilities will be integrated with Palo Alto’s Prisma Cloud platform. Financial details of the deal were not disclosed.In conclusion, October 2023 witnessed several significant M&A deals in the cybersecurity and technology sectors, showcasing the continued evolution and consolidation within the industry. These strategic acquisitions are expected to drive innovation and enhance the capabilities of the companies involved in the long run.