Disclosed cybersecurity M&A reached more than $84 billion in 2025, roughly double the prior year and the largest in the sector’s history, led by Google’s $32 billion acquisition of Wiz and Palo Alto’s $25 billion acquisition of CyberArk. This briefing maps the platform era: who is consolidating, what platforms pay for, and how security founders should position.
The platform thesis has moved from strategy decks to closed transactions, and it is resetting what security companies are worth. The briefing draws on Windsor Drake’s proprietary transaction index, its quarterly valuation research across security subsectors, and the transaction experience of its advisory practice in Toronto and New York.
It is written for the people who have to act on it: founders weighing an exit, boards setting expectations, and shareholders deciding whether the platform era is theirs to sell into.
$84 billion and more. Disclosed cybersecurity M&A value announced in 2025, roughly double 2024 and the largest year in the sector’s history.
400+. Cybersecurity transactions announced globally in 2025, up roughly 22 percent on the prior year.
Eight. Acquisitions above the $1 billion mark in 2025, against a historical norm of two to four.
$32 billion. Google’s all-cash acquisition of cloud security platform Wiz, the largest security deal ever.
2x. Increase in median security deal value, from roughly $150 million in 2024 to above $300 million by the first quarter of 2026.
$20.7 billion. Cybersecurity venture financing across 820 deals in 2025, up 52 percent, replenishing the target pipeline.
Each finding is developed in full in the briefing, with the supporting transaction data and the implications for founders and boards stated plainly.
01 · The state of the market. Deal value, deal count, and where capital is concentrating.
02 · What is driving the cycle. The buyers, capital, and structural forces behind current activity.
03 · What buyers pay for. Where the market clears by quality tier, and the metrics that move a company between tiers.
04 · The founder playbook. Timing, preparation, and process design for an exit into this market.
By email. Once you submit a request, the full briefing is sent to the address you provide, from the desk of Jeff Barrington at Windsor Drake.
Yes. Every request is treated with the same confidentiality as a client inquiry. Nothing is shared, and your details are never sold or circulated.
No. The briefing is research, not a pitch. There is no obligation and no follow-on sequence beyond the research itself.
The Windsor Drake research team, drawing on the firm’s proprietary transaction index, its quarterly valuation research, and the transaction experience of its advisory practice in Toronto and New York.
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