Mid-Market Cybersecurity M&A Trends 2025: Top Deals, Insights, and Outlook

Market Overview

The cybersecurity M&A landscape experienced a significant rebound in 2024, with over 400 deals announced, totaling approximately $50.75 billion in disclosed value. Mid-market transactions (valued between $100 million and $1 billion) were particularly active, accounting for 25 deals, 22 of which involved pure-play cybersecurity companies.

Key Trends in Mid-Market Cybersecurity M&A

• Data Security and SaaS Focus: Data security, including SaaS security, emerged as a major theme, with more than half of recent deals emphasizing these areas.
• Private Equity Involvement: Private equity firms continued to be active, with platform acquisitions comprising half of all cybersecurity deals exceeding $1 billion in enterprise value during the year.
• AI and Cloud Integration: Acquisitions increasingly targeted companies at the intersection of AI, cloud security, and data protection, reflecting the growing demand for integrated solutions.

Notable Mid-Market Cybersecurity M&A Transactions (2024–2025)

Date	Acquirer	Target	Deal Value	Segment
Q3 2025	Zscaler	Red Canary	Undisclosed	Managed Detection & Response
Q3 2024	Rapid7	Noetic Cyber	Undisclosed	Cyber Asset Attack Surface Mgmt
Q4 2024	Sophos	Secureworks	$859 million	Managed Security Services
Q1 2024	The Chertoff Group	Trustwave	$205 million	Managed Security Services
Q1 2024	F5, Inc.	Wib	Undisclosed	API Security
Q1 2024	F5, Inc.	Heyhack ApS	Undisclosed	Penetration Testing
Q1 2025	F5, Inc.	LeakSignal	Undisclosed	AI Data Protection
Q1 2024	Synopsys	Intrinsic ID	Undisclosed	IoT Digital Authentication

Note: Deal values are disclosed where available; others remain undisclosed.

Outlook for Mid-Market Cybersecurity M&A

The mid-market cybersecurity M&A segment is poised for continued growth in 2025, driven by:

• Persistent Cyber Threats:
  Ongoing cyber threats, including ransomware and supply chain attacks, necessitate innovative security solutions.


• Regulatory Pressures:
  Evolving data privacy regulations compel organizations to acquire specialized security capabilities.


• Scalability and Flexibility:
  Mid-sized firms offer agility in integrating new technologies and responding to market demands.


• Private Equity Consolidation:
  PE firms are expected to continue consolidating mid-market players to build comprehensive cybersecurity platforms.

Buyers and investors who can navigate integration risks and evolving regulatory landscapes will find compelling opportunities in this dynamic sector.