Snapshot

celalerdik

Cybersecurity_Snapshot_February_2017

February Deal Flow

February Strategic Activity Remained Extremely Active For Both M&A And Financings Throughout The Month.

M&A Activity

• 16 M&A deals announced with an aggregate disclosed value of $835M

• M&A activity continued to increase through the end of February

• 2 Security Analytics deals bookended the month (Niara / HPE+Aruba,

LightCyber / Palo Alto Networks)

• Madison Dearborn Partners led February M&A activity with the

acquisition of BlueCat Networks for $400M

Financing Activity

Source: Capital IQ, Crunchbase.

Strategic Deal Flow Commentary

• 37 financing transactions raised a total of $225.5M with a median of

$3.5M raised

• HackerOne’s $40M Series C and Exabeam’s $30M Series C financing

rounds led all financing activity this month

• Roughly 60% of financing deals were early stage (Seed to Series A)

• 2 Momentum ‘Watch List’ companies raised additional funding this

month:

3

Date Target Acquirer Sub-Sector EV ($M) EV / Rev

02/28/17 Security Analytics $105.0 10.5x

02/23/17 Network Security $400.0 NA

02/16/17 Consulting NA NA

02/13/17 Risk & Compliance NA NA

02/13/17 Consulting NA NA

02/09/17 Intelligence Services

Threat Intelligence NA NA

02/08/17 U.S. Federal Government

MSSP NA NA

02/08/17 Cloud Security $40.0 NA

02/08/17 Endpoint Security $120.0 NA

02/08/17 Data Security NA NA

02/08/17

Industrial / IoT

Security

02/07/17 Endpoint Security NA NA

02/06/17 Network Security NA NA

02/01/17 Security Analytics ~$50.0 NA

02/01/17

02/01/17

iDefense Security

Business

Services Business

Cybersecurity M&A

Identity & Access

Management

Industrial / IoT

Security

NA

NA

$120.0 NA

NA

NA

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