Since 2017, the top 10 private equity firms in the cybersecurity space have completed 146 deals with a median deal size of over $541 million, according to PitchBook data.
The largest cybersecurity deals this year include the $14 billion take-private deal for security software company McAfee by an investor group led by Advent International; Liberty Strategic Capital‘s $525 million deal for Zimperium, a provider of mobile threat defense; and a $350 million deal for networking solutions provider Tripwire by IT management software developer HelpSystems via a long list of private equity financial sponsors including Charlesbank Capital Partners and Harvest Partners.
Since 2017, tech-focused Thoma Bravo has completed the most deals, followed by TA Associates and Insight Partners. Thoma Bravo is currently collecting commitments for its 15th flagship fund, which has a $22 billion target.
Vista Equity Partners, another firm on the top 10 list, also has an open mega-fund—defined as a vehicle of $5 billion or more—targeting between $20 billion and $24 billion for its eighth buyout fund. Further, TPG is targeting $15 billion for its ninth namesake fund.
Here are the most active investors by deal count since the start of 2017.
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