Veritas Capital, a private equity firm with a strong track record in the tech sector, is reportedly in preliminary talks to acquire veteran tech company BlackBerry.
The exact value of the deal has not been disclosed, but Veritas Capital is said to be keen on acquiring BlackBerry in its entirety.
SentinelOne, a publicly traded cybersecurity company with a market cap of $4.8bn, is also considering a sale, among other options. Cloud security startup Wiz is showing interest in acquiring SentinelOne.
The ongoing chatter surrounding these acquisitions signifies a pending wave of consolidation in the cybersecurity market. SentinelOne has hired investment bank Qatalyst Partners to advise on potential acquisition talks.
SentinelOne is a cybersecurity firm specialising in anti-malware solutions, and it has recently been involved in a shopping spree, acquiring Attivo for $616m and Scalyr for $155m. BlackBerry has successfully pivoted into cybersecurity after acquiring Cylance. The acquisition discussions follow recent moves by both SentinelOne and BlackBerry to expand their offerings.
Wiz, despite being a newer entrant in the market, has raised approximately $900m in venture capital and growth funding, positioning itself as a strong contender. Wiz is a cloud security startup last valued at around $10bn, embroiled in a heated rivalry with Orca.
Veritas Capital’s interest in BlackBerry is not exclusive; other suitors are also reportedly interested in acquiring parts or all of the Canadian-based tech firm. The ongoing acquisition discussions signify a pending wave of consolidation in the cybersecurity market.
These acquisitions are expected to increase the market share of the acquiring companies and to help them offer more comprehensive cybersecurity solutions. The market for cybersecurity solutions is expected to grow due to the increasing frequency and sophistication of cyberattacks. The acquisitions are also expected to help the companies expand their portfolios and to offer better B2B software solutions.
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