The CyberScope – Q2 2022

Cybersecurity multiples remain at a higher level than other technology verticals and revenue multiples are trading above pre-COVID 19 levels, whilst M&A volumes and values continue to outpace other sectors – all in spite of widespread depressed public market valuations. With the sector expected to strengthen against the increasing sophistication of hackers, established players continue to “double-down” on targets that enhance product offerings, whereas SMEs seek to launch in new markets and capitalise on surging growth.

In Q2 2022, Results advised Terranova Security, a cybersecurity awareness training SaaS platform, on its acquisition by HelpSystems, and Intigriti, Europe’s leading bug bounty and vulnerability disclosure platform, on its €21.1m Series B fundraise. With four cyber deals this year and 13 in total, these transactions further establish Results’ credentials as an advisor to the best-in-class cyber companies in the USA, UK and Europe.

Geopolitical tensions, including the war in Ukraine, have further intensified the need to fortify security systems as public and private sector companies seek to mitigate potentially very costly cyber breaches. Although a rise in interest rates has undoubtedly cooled public market valuations, the combination of market demand coupled with the critical nature of cybersecurity spending will likely insulate the industry from some of these effects.