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  • TITUS goes from bootstrapped to buyout with Blackstone

    Private equity firm Blackstone has picked up a majority stake in TITUS, marking an unconventional bootstrapped-to-buyout exit for the 12-year-old data classification startup. With the acquisition, PE shops have now purchased more cybersecurity vendors in 2017 than any year in history. Once Blackstone owns TITUS, the company will have several adjacent markets that it could buy its way into.

    Information Security

  • Cybersecurity turns into a busy bazaar

    The holiday shopping season kicked off last week, and for one tech sector, it was a particularly bountiful time for picking up some companies. Infosec acquirers announced an unprecedented seven transactions, up from a weekly average of just two deals. With last week's flurry, this year's number of infosec acquisitions eclipsed last year's total, even as overall tech M&A volume in 2017 is heading for a mid-teens percentage drop. And several of the trends appear likely to carry into 2018.

    Information Security

  • November M&A slumps to pre-boom level

    Dealmaking in 2017 is going out with a whimper. Acquirers in November spent just $15.7bn on tech transactions across the globe, the lowest monthly total in three years. The sluggish November activity comes after a similarly anemic October. The recent tail-off in acquisition spending means that 2017 is all but certain to come in with the lowest annual M&A spending since 2013.

  • Bull market bypasses tech IPOs

    Although there's still a month remaining in 2017, most startups thinking about an IPO have already turned the calendar to 2018. That's true even though the tech IPO market has been pretty active recently. By our count, a half-dozen enterprise-focused tech vendors have come public in just the past two months. But despite the uptick in IPO activity, shares of the newly public companies haven't necessarily been ticking higher, at least not dramatically so.

  • Thoma Bravo goes fishing, lands Barracuda

    After four underwhelming years as a public company, Barracuda Networks will step off the NYSE in a $1.6bn take-private with Thoma Bravo. The all-cash transaction is one of those rare deals that appears to fit both the buyer and the seller in equal measure. Barracuda's transition in its business has hurt it on Wall Street, but now it will have an opportunity to continue that behind closed doors.

    Information Security

  • Tech M&A stumbles out of summer

    This summer's momentum in the tech M&A market petered out as autumn arrived. Spending in the just-completed month of October slumped to its second-lowest monthly total of the year. Across the globe, acquirers announced just $17bn worth of tech and telco purchases in October, equaling only slightly more than half the average monthly deal value in the nine previous months. Overall, tech M&A spending in 2017 is on pace for the lowest full-year total in four years.

  • Elliott prints first take-private

    Often a bidder, never a buyer, Elliott Management looks set to make its first take-private of a tech company, reaching an agreement to buy network-monitoring vendor Gigamon for $1.6bn. The infamous activist investor has often agitated for sales of publicly traded tech companies and launched offers of its own, but has yet to bring one over the finish line.

    Networking

  • A pivot turns into a face-plant

    With its attempt at a pivot having turned into face-plant, Synchronoss will unwind its massive, bet-the-company acquisition of Intralinks by divesting the collaboration software vendor to PE firm Siris Capital Group. The buyout shop will pay about $1bn for Intralinks, which Synchross acquired last December for $821m. The divestiture ends a pairing that faced skepticism from the very start, with Synchross shares having lost two-thirds of their value since the deal was announced.

    Data Platforms & Analytics Workforce Productivity & Compliance

  • Stuck startups

    Startups are increasingly stuck. The well-worn path to riches - selling to an established tech giant - isn't providing nearly as many exits as it once did. In fact, based on our calculations, 2017 will see roughly 100 fewer exits for VC-backed companies than any year over the past half-decade. This current crimp in startup deal flow, which is costing billions of dollars in VC distributions, could have implications well beyond Silicon Valley.

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