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Home Process Compliance and Governance

Cybersecurity remains resilient amid declining TMT deal activity in 2023

FutureCISO Editors by FutureCISO Editors
March 26, 2024
Photo by Tima Miroshnichenko: https://www.pexels.com/photo/woman-in-black-hoodie-holding-a-bank-card-5380665/

Photo by Tima Miroshnichenko: https://www.pexels.com/photo/woman-in-black-hoodie-holding-a-bank-card-5380665/

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Companies are prioritising investments in cybersecurity capabilities, leading to a surge in related Mergers and acquisitions (M&A) deals in 2023, according to GlobalData's latest report, “Global Tech, Media, and Telecom (TMT) M&A Deals 2023 – Top Themes and Predictions – Thematic Intelligence.” The report reveals that cybersecurity-related deals totaled $42 billion in 2023 despite a decline in overall deal activity within the tech, media, and telecom (TMT) industry.

Priya Toppo

“With the rise of technologies such as artificial intelligence (AI) and growing geopolitical risks, the volume and sophistication of cyber-attacks has also increased. Acquiring a cybersecurity firm will allow companies to integrate new technologies seamlessly,” Priya Toppo, Thematic Intelligence analyst at GlobalData, said.

Addressing regulatory concerns

“Although the TMT sector witnessed a notable shift in M&A dynamics in 2023, marked by a substantial decline in deal value and volume. The outlook for M&A activity in the rest of 2024 remains subdued, though with inflationary pressures easing and interest rates falling, GlobalData expects a modest recovery over the course of the year,” says Toppo. 

To secure deal approvals amidst escalating regulatory scrutiny, the GlobalData analyst urges companies to address regulatory concerns and prepare for potential concessions.

Related:  FSI firms vulnerable to DDoS attacks
Tags: Artificial IntelligencecybersecurityGlobalData
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