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ARTICLE · 20 NOVEMBER 2025

U.S. Cybersecurity Sector Report - Q3 2025

Ropes & Gray LLP
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Deal count: Q3 2025 is up +14% from last quarter, a sign that the market is becoming more active, driven by managed & IT services that help organizations to outsource their cybersecurity needs...

United StatesTechnology
Ropes & Gray LLP
Ropes & Gray LLP
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U.S. Cybersecurity M&A + PE Deal Activity

  • Deal count: Q3 2025 is up +14% from last quarter, a sign that the market is becoming more active, driven by managed & IT services that help organizations to outsource their cybersecurity needs, which has become increasingly important as the industry struggles with talent shortage.
  • Deal value: In Q3 2025, deal value is up significantly from last quarter with several deals in the $500 Mn - $1 Bn range, though there were no deals above $1 Bn.
  • Palo Alto Networks/CyberArk Announcement: Announced at the end of July, Palo Alto reached an agreement with CyberArk for a $25 Bn acquisition, the deal expected to close in 2026. This acquisition is the logical evolution of Palo Alto's platformization strategy, which drove14 acquisitions since 2019.

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