Cybersecurity draws the widest range of buyer types in IT services and is one of its most active lines for M&A. Between 2015 and 2025 we recorded 1,056 acquisitions of cybersecurity services firms and managed security service providers (MSSPs) worldwide, using proprietary counts from the Aventis Advisors deal database of more than 125,000 transactions. Several distinct types of buyer compete for this capability: pure-play security acquirers and regional MSSP roll-ups, the global consultancies adding managed detection and advisory skills, telco security arms and defense primes, and the private equity funds financing the platforms. This article ranks the most active buyers and shows how they buy. It is part of our ranking of the top strategic acquirers of IT services companies.
If you run a cybersecurity services business with genuine managed-detection, testing, or advisory capability, you face an unusually deep and competitive buyer pool, which is good for price. The question is which type of buyer fits: a specialist roll-up that keeps you as a platform brand, or a consultancy that integrates your team into a global delivery network.
Who’s buying cybersecurity services: 2015-2025 in numbers
Cybersecurity M&A rose steadily and stayed strong through the higher-rate years, driven by relentless demand for managed security and the highest margins in the managed-IT stack. Activity is spread across many buyers rather than dominated by one, and recent years have seen aggressive new consolidators emerge in Europe alongside the established names.
On raw volume, cybersecurity is active rather than the largest line. Software development recorded about 2,482 acquisitions over the same period, systems integration 2,279, managed services 1,680, IT consulting 1,294, and data and analytics 1,081, all ahead of cybersecurity’s 1,056. What sets cybersecurity apart is the breadth of the buyer pool: global consultancies, telco security arms, defense primes, specialist MSSP roll-ups, and private equity all compete for the same firms.
The most active buyers of cybersecurity services at a glance
Deal counts cover announced acquisitions of cybersecurity services firms from 2015 to 2025, families consolidated. The type column marks whether the buyer is a strategic or operating business or a private equity fund, and records ownership as it stands today.
| # | Buyer | Type and ownership | 2015-2019 | 2020-2022 | 2023-2025 | Total |
|---|---|---|---|---|---|---|
| 1 |  Accenture |
Strategic, listed consultancy | 7 | 6 | 3 | 16 |
| 2 |  Swiss IT Security |
Strategic, Triton-backed, now SITS Group | 5 | 6 | 0 | 11 |
| 3 |  CISO Global |
Strategic, Nasdaq-listed | 2 | 6 | 2 | 10 |
| 4 |  Integrity360 |
Strategic, August Equity-backed | 1 | 1 | 7 | 9 |
| 5 | Allurity | Strategic, FSN Capital platform | 0 | 2 | 7 | 9 |
| 6 |  Tesserent |
Now Thales-owned, not a live buyer | 3 | 3 | 1 | 7 |
| 7 | Herjavec Group | Now part of Cyderes | 2 | 2 | 1 | 5 |
| 8 | CyberCX | Now Accenture-owned, not a live buyer | 1 | 4 | 0 | 5 |
| 9 |  Atos |
Strategic, listed | 0 | 5 | 0 | 5 |
| 10 |  Orange |
Strategic, listed telco | 2 | 1 | 1 | 4 |
Three names in this table are history rather than pipeline. Tesserent and CyberCX rank on the strength of the roll-ups they ran, but both are now targets rather than buyers: Thales acquired Tesserent in 2023 and Accenture acquired CyberCX in 2025. Herjavec Group combined with Fishtech to form Cyderes, which is the entity buying today. The live consolidators in this ranking are Integrity360, Allurity, Swiss IT Security (trading as SITS Group), CISO Global, and Cyderes.
1) Accenture
Overview: The world’s largest IT services and consulting firm and the most active acquirer across nearly every IT services line. In cybersecurity it buys to add managed detection, testing, and advisory capability to its global security practice.
Acquisition pace: 16 cybersecurity deals, seven in 2015-2019, six in 2020-2022, and three in 2023-2025.
Typical target: Established security firms worldwide, spanning the US, Europe, and Australia, whose teams and client relationships strengthen its delivery network.
Select transactions: CyberCX (Australia, ~$652m, 2025), Novetta Solutions (US, ~$1.5bn, 2021), and Context Information Security (UK, ~$139m, 2020). Novetta was acquired by Accenture Federal Services and sits closer to national-security and mission analytics than to commercial cybersecurity, so treat it as a defense-adjacent deal rather than a read on commercial security pricing.
2) Swiss IT Security
Overview: A German-Swiss IT security group, backed by Triton and now trading as SITS Group, that built a pan-European MSSP platform through a dense run of acquisitions. It is a sponsor-backed platform rather than a corporate strategic.
Acquisition pace: 11 cybersecurity deals concentrated in 2017-2022.
Typical target: European managed security and identity specialists.
Select transactions: SecureDevice (Denmark, 2022), Traxion (Netherlands, 2021), and ADDAG (Germany, 2021).
3) CISO Global
Overview: A US cybersecurity services company (formerly Cerberus Sentinel) that grew a managed-security and consulting group through equity-funded acquisitions.
Acquisition pace: 10 cybersecurity deals, peaking in 2020-2022, with small disclosed values.
Typical target: Small US security consultancies and managed-security firms.
Select transactions: TalaTek (US, ~$2.5m, 2019), Alpine Security (US, ~$1.8m, 2020), and Technologyville (US, ~$1.4m, 2020).
4) Integrity360
Overview: A Dublin-based managed security services provider, backed by August Equity, consolidating European cybersecurity specialists, with activity heavily weighted to recent years.
Acquisition pace: 9 cybersecurity deals, 7 of them in 2023-2025.
Typical target: European MSSPs and security consultancies.
Select transactions: Adsigo (Germany, PCI/payment security, 2024), Cresco Cybersecurity (Belgium, 2025), and Holiseum (France, 2025).
5) Allurity
Overview: A European cybersecurity platform built by FSN Capital, assembling a group of national security specialists.
Acquisition pace: 9 cybersecurity deals, all since 2020 and accelerating.
Typical target: European security consultancies and MSSPs.
Select transactions: CloudComputing.co (2023), INFIGO IS (Croatia, 2025), and Monti Stampa Furrer (Switzerland, 2025).
6) Tesserent
Overview: An Australian cybersecurity group that rolled up local security firms, notable for disclosing values on every deal. Thales acquired Tesserent in 2023, so it is no longer independent. It ranks here on its historic roll-up record and is not a live buyer today.
Acquisition pace: 7 cybersecurity deals across 2019-2023, none since the Thales acquisition.
Typical target: Australian managed security and consulting firms, when it was buying.
Select transactions: Secure Logic’s managed security business (Australia, ~$17m, 2021), Airloom (Australia, ~$11m, 2020), and the security segment of PS&C (Australia, ~$11m, 2019).
7) Herjavec Group
Overview: A North American managed security services provider that expanded its detection, response, and identity capability through acquisitions before combining with Fishtech to form Cyderes. The deals are counted under the Herjavec name because that is how they were announced; the business trades as Cyderes today, and that is the entity a seller would meet.
Acquisition pace: 5 cybersecurity deals, two in 2015-2019, two in 2020-2022, and one in 2023-2025.
Typical target: Managed-security and identity specialists in Canada, the UK, and the US that add scale to its 24/7 monitoring operations.
Select transactions: Sysec (UK, 2015), Securience (UK, 2020), and SEGMENTECH (Canada, 2021).
8) CyberCX
Overview: An Australian cybersecurity group formed by consolidating a broad set of local security firms into a single national platform spanning consulting, managed detection, and incident response. Accenture acquired the group in 2025, so like Tesserent it ranks on a historic record and is now part of another buyer rather than a buyer in its own right.
Acquisition pace: 5 cybersecurity deals, one large multi-company founding round in 2015-2019 and four in 2020-2022, none since.
Typical target: Australian and New Zealand security specialists that added capability and regional coverage, when it was buying.
Select transactions: Cloudten and Decipher Works (Australia, ~$18m, 2020), Insomnia Security Group (New Zealand, 2020), and Cyber Research NZ (New Zealand, 2022).
9) Atos
Overview: A French IT services and digital security group that acquired managed-security and consulting firms to build out its Big Data and cybersecurity division.
Acquisition pace: 5 cybersecurity deals, all in 2020-2022.
Typical target: Security firms across Europe and North America that extend its managed detection and advisory footprint.
Select transactions: Paladion Networks (2020), SEC Consult (Austria, 2020), and In Fidem (Canada, 2021).
10) Orange
Overview: The French telecommunications group whose Orange Cyberdefense arm is one of Europe’s largest managed security providers, built partly through acquisition.
Acquisition pace: 4 cybersecurity deals, two in 2015-2019, one in 2020-2022, and one in 2023-2025.
Typical target: European MSSPs and security specialists that broaden its managed detection and response reach.
Select transactions: SecureLink (Belgium, ~$576m, 2019), SecureData Europe (UK, ~$115m, 2019), and Telsys and SCRT (Switzerland, 2022).
Active private equity investors in cybersecurity services
The sponsors with repeat cybersecurity buyouts in our data are EQT (3), Quadrant Private Equity (3), Limerston Capital (3), Apax (3), Enlightenment Capital (3), and Sophora (2). Several of the platforms above are themselves sponsor-backed: Swiss IT Security by Triton, Integrity360 by August Equity, and Allurity by FSN Capital. These are financial owners running buy-and-build, not corporate strategics, which matters for how they price and structure. For the full picture, see our ranking of the top private equity investors in IT services.
What this means if you’re selling a cybersecurity services firm
You are selling into the deepest, most competitive buyer pool in IT services, which favors sellers. Specialist roll-ups (Integrity360, Allurity, Swiss IT Security, Cyderes) tend to keep you as a platform brand and value recurring managed-detection revenue, and most of them are sponsor-backed; the global consultancies (Accenture and peers) buy for capability and integrate the team, often at a premium. Genuine managed-detection or testing capability with recurring revenue attracts the strongest interest. As always, competition between several credible buyers, and knowing which type fits your goals, drives the outcome; see strategic versus financial buyers.
Thinking about selling your cybersecurity business?
Aventis Advisors advises IT services and security founders on M&A. We help you identify the realistic buyers, position the business, and run a competitive process. Talk to our team.
Frequently asked questions
Who is the most active buyer of cybersecurity services firms?
Accenture leads with 16 cybersecurity services acquisitions between 2015 and 2025 in our database, but the most active specialists are Swiss IT Security (11), CISO Global (10), and the fast-rising European consolidators Integrity360 and Allurity (9 each). Two names further down the table, Tesserent and CyberCX, rank on historic activity only: Thales bought Tesserent in 2023 and Accenture bought CyberCX in 2025.
Do private equity firms buy cybersecurity services companies?
Yes, heavily. Sponsors including EQT, Quadrant Private Equity, Limerston Capital, and Apax have made repeat cybersecurity buyouts, and many of the specialist platforms are sponsor-backed rather than strategic: Swiss IT Security by Triton, Integrity360 by August Equity, and Allurity by FSN Capital. See our ranking of the top private equity investors in IT services.
What drives the value of a cybersecurity services business?
Recurring managed-detection and monitoring revenue, specialist capability (incident response, OT/ICS, GRC), and scale. Security is the highest-margin, stickiest part of the managed-IT stack, which is why buyer competition and multiples are strong. See our IT services valuation multiples report.
About Aventis Advisors
Aventis Advisors is an M&A advisory firm focused on technology and IT services companies. We advise founders and owners on company sales, growth capital, and strategic transactions, combining sector focus with proprietary deal data such as the database behind this article. To discuss your options, get in touch.
