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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsSecurityWeek identified 28 cybersecurity-related merger, acquisition, asset, divestiture and stake transactions announced during February 2025. The largest disclosed transaction was Turn/River Capital’s proposed approximately $4.4 billion cash acquisition of SolarWinds. Other major announcements involved identity governance, compliance automation, quantum-safe technology, data protection and application security.
These are February announcements, not a list of 28 deals that necessarily closed that month. The roundup includes definitive agreements, proposed acquisitions, a sale, a merger and a stake purchase. SecurityWeek published its roundup on March 3, 2025.
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How the 28-deal count should be read
For this tracker, a “deal” means a publicly announced acquisition, divestiture, merger, asset purchase or ownership-stake transaction involving a cybersecurity or cybersecurity-adjacent business during February 1–28, 2025. That scope is broader than pure-play security software: it includes IT management, identity verification, fraud prevention, blockchain security and quantum technology.
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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →“Announced” does not mean “completed.” A completed acquisition, a definitive agreement, a proposal to acquire, a sale, a merger and a minority or unspecified stake purchase have different legal and economic meanings. SecurityWeek’s count reflects its tracking methodology rather than a claim that exactly 28 transactions occurred worldwide.
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The source also counted 405 cybersecurity-related M&A announcements in 2024. That is SecurityWeek’s own comparison and should not be treated as a harmonized industry census or a forecast for 2025.
Largest disclosed transactions
| Rank | Buyer | Target | Announcement status | Disclosed value | Primary capability or rationale |
|---|---|---|---|---|---|
| 1 | Turn/River Capital | SolarWinds | Definitive agreement to acquire | Approximately $4.4 billion cash | Take-private of an IT-management and observability company with cybersecurity relevance |
| 2 | Drata | SafeBase | Definitive agreement to acquire | $250 million | Combines compliance automation with trust-center and security-review workflows |
| 3 | IonQ | ID Quantique | Proposed acquisition; reported transaction | Reported at $250 million | Quantum-safe networking, cryptography and quantum sensing |
| 4 | CyberArk | Zilla Security | Acquisition | $165 million cash | Identity governance and administration, provisioning and compliance automation |
| 5 | Menlo Security | Votiro | Acquisition | $37.5 million | Combines enterprise-browser security with data and file security |
These are the five values disclosed or reported in the roundup. They are not the total value of all 28 transactions: most consideration was not stated, and the figures are not uniformly comparable. Some concern cash, some are reported estimates, and the targets range from whole companies to assets or divisions.
All 28 February announcements
The table preserves the source’s broad “cybersecurity-related” definition and distinguishes transaction form where the roundup did so. A value of “Not disclosed” means the cited roundup supplied no public consideration.
| Buyer or acquirer | Target or transaction | Type and status | Security relevance | Value |
|---|---|---|---|---|
| A10 Networks | ThreatX Protect | Asset/brand acquisition | Adds web-application and API protection (WAAP); remaining ThreatX assets were to be rebranded as Run Security | Not disclosed |
| AttackIQ | DeepSurface | Acquisition | Adds security-posture management and vulnerability prioritization to adversarial-exposure validation | Not disclosed |
| CyberArk | Zilla Security | Acquisition | Adds identity governance and administration, user provisioning and compliance-review automation | $165 million cash |
| Deepwatch | Dassana | Acquisition | Adds security intelligence, risk and threat-exposure technology to a managed cybersecurity platform | Not disclosed |
| Drata | SafeBase | Definitive agreement to acquire | Links compliance automation with trust centers and customer security-review workflows | $250 million |
| IonQ | ID Quantique | Proposed acquisition; reported | Expands into quantum-safe networking, cryptography and sensing | Reported at $250 million |
| Menlo Security | Votiro | Acquisition | Combines enterprise-browser controls with file and data security | $37.5 million |
| NCC Group | Fox Crypto, a Fox-IT business | Sale | NCC Group simplified its portfolio; Fox Crypto develops high-assurance cryptographic products | Not disclosed |
| TAC Security | CyberScope | Acquisition | Adds smart-contract auditing, crypto-security audits and blockchain vulnerability assessment | Not disclosed |
| Turn/River Capital | SolarWinds | Definitive agreement to acquire | Proposed take-private of an IT-management and observability company | Approximately $4.4 billion cash |
| Bitdefender | BitShield division | Division acquisition | Acquisition of a cybersecurity business division | Not disclosed |
| Consortium | Metrics that Matter | Acquisition | Cybersecurity-related transaction listed by SecurityWeek | Not disclosed |
| Cyber Advisors | Wasatch I.T. | Acquisition | Security-services transaction | Not disclosed |
| Data443 | Breezemail.ai | Acquisition | Cybersecurity-related technology transaction | Not disclosed |
| Digital Capital Partners | Govplace | Acquisition | Government-technology and security-related transaction | Not disclosed |
| Eason Technology | Hongkong Starlux Intelligent Technology | Acquisition | Cybersecurity-related technology transaction | Not disclosed |
| FusionTek | U.S. Resources, Inc. | Acquisition | Security-services transaction | Not disclosed |
| Harness and Traceable | Combination of the companies | Merger | Application- and API-security combination | Not disclosed |
| HeroDevs | Xeol | Acquisition | Cybersecurity software transaction | Not disclosed |
| ITGL | Intuitive Systems & Networks | Acquisition | Cybersecurity-related services and technology transaction | Not disclosed |
| LexisNexis Risk Solutions | IDVerse | Acquisition | Identity verification and fraud-prevention capability | Not disclosed |
| LRQA | Core Business Solutions | Acquisition | Compliance and assurance technology | Not disclosed |
| Oryxalign | SDT Holdings | Acquisition | Cybersecurity-related transaction | Not disclosed |
| Perfios | Clari5 | Acquisition | Financial-crime and banking-security capability | Not disclosed |
| Positive Group | Vba32 | Stake acquisition | Investment in a cybersecurity business rather than a stated full-company purchase | Not disclosed |
| Thrive | Secured Network Services | Acquisition | Managed security-services transaction | Not disclosed |
| Utilize | Access Information Security (AIS) | Acquisition | Security-services transaction | Not disclosed |
| Worldpay | Ravelin | Agreement to acquire | Payments fraud and security technology | Not disclosed |
All rows and descriptions above come from SecurityWeek’s February 2025 roundup. The source’s 18 additional transactions are listed after its highlighted deals; their order here follows that grouping.
What the transactions say about buyer strategy
Platform consolidation
Several buyers purchased capabilities adjacent to an existing product or service. CyberArk added identity governance to its identity-security platform. Menlo Security added data and file protection. Deepwatch expanded its managed platform with threat and risk intelligence. AttackIQ added posture management and vulnerability prioritization, while Drata added trust-center functionality. These are tuck-in patterns: buyers are broadening a platform rather than starting from an unrelated market position.
Identity, assurance and compliance
CyberArk/Zilla Security sits at the intersection of privileged access, identity governance, provisioning and compliance automation. Drata/SafeBase connects audit preparation with the practical work of answering customer security reviews and maintaining a trust center. LexisNexis Risk Solutions/IDVerse extends the same broad identity-and-assurance field into identity verification and fraud prevention. The transactions show overlapping commercial workflows, not proof that any single deal reshaped the entire identity market.
Application, browser, API and data protection
A10’s ThreatX asset purchase, Menlo’s Votiro acquisition and the Harness–Traceable merger all address protection around applications, APIs, browsers, files or data flows. A10’s transaction is especially important to classify correctly: SecurityWeek described the acquired assets as the ThreatX brand and TX Protect WAAP solution, with remaining ThreatX assets moving under the Run Security name. That is not necessarily a simple whole-company acquisition.
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Security services, exposure and risk
DeepSurface, Dassana, Fox Crypto, Wasatch I.T., U.S. Resources, Secured Network Services and AIS illustrate how the roundup mixes software, specialist capabilities and managed services. NCC Group’s sale of Fox Crypto is a divestiture, so it represents portfolio simplification rather than a buyer adding a capability through acquisition.
Blockchain and quantum-safe technology
TAC Security/CyberScope adds smart-contract and blockchain assessment. IonQ/ID Quantique is different from conventional enterprise-security consolidation: its reported rationale links quantum networking, quantum-safe cryptography and quantum sensing. Because SecurityWeek characterized the $250 million figure as reported, it should not be treated as a fully documented closing consideration.
Private-equity and adjacent IT consolidation
Turn/River’s SolarWinds agreement dominates disclosed value, but SolarWinds is primarily an IT-management and observability company rather than a pure-play cybersecurity vendor. It should therefore be read as a cybersecurity-related, enterprise-software take-private, not as evidence that a $4.4 billion pure-security startup deal occurred.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the disclosed values need careful comparison
- SolarWinds was described at approximately $4.4 billion in cash.
- Drata/SafeBase was announced at $250 million.
- IonQ/ID Quantique was reported at $250 million rather than presented as an independently verified value.
- CyberArk/Zilla Security was $165 million in cash.
- Menlo Security/Votiro was $37.5 million.
The figures cover different transaction forms and asset scopes. Undisclosed consideration means no complete value total can be derived for all 28 announcements, and strategic importance cannot be ranked solely by price.
Implications for market participants
For cybersecurity executives and buyers
Expect acquisition strategies to favor capabilities that can be sold through an existing platform: identity governance, assurance workflows, exposure management, browser controls, data protection and managed services. For customers, the practical diligence questions are whether product roadmaps will be combined, contracts will change, and support or channel arrangements will remain consistent.
For investors and analysts
Separate one large take-private from the long tail of smaller, undisclosed transactions. Track whether an announcement is a signed agreement, a proposal, a completed deal, a divestiture or a minority investment before comparing valuation or deal volume.
For founders and corporate-development teams
February’s list suggests that adjacency matters: a target can be attractive when it fills a platform gap, adds regulated-workflow automation or provides specialist technology such as cryptography or blockchain assessment. Buyers should still test integration complexity, overlapping products and whether the transaction concerns assets rather than the entire company.
Important limitations
- The 28-deal figure is SecurityWeek’s reported count for announcements made in February 2025, not a worldwide, independently audited census.
- Announcement dates are not closing dates; several entries remained proposed or subject to closing conditions.
- “Cybersecurity-related” is broader than “pure-play cybersecurity,” covering IT management, payments fraud, identity verification, financial crime and quantum technology.
- Private transactions, delayed disclosures and deals outside the tracker’s definition may not appear.
- No post-closing integration, employee, customer or regulatory outcome should be inferred from the announcement list alone.
The Bottom Line
February 2025 combined one unusually large SolarWinds take-private with several priced platform acquisitions and a long tail of smaller or undisclosed transactions. The useful distinction is not simply buyer versus target: it is announcement versus closing, whole company versus asset or stake, and pure-play security versus broader cybersecurity-related technology.
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