Deal activity by volume related to cybersecurity increased by 50% year-on-year in 2023 in the power industry

A​​​​​​​nalysis of the key themes driving deal activity reveals that cybersecurity accounted for 56 power deals between 2019 and 2023, worth a total value of $12,376m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships.  

The $300m venture financing secured by Wiz from Blackstone Group was the largest disclosed deal in 2023, while the $5.2bn acquisition of Vivint Smart Home by NRG Energy was the largest disclosed deal in 2022.  

In volume terms, cybersecurity related deal activity increased by 50% year-on-year in 2023 and by 167% year-on-year in 2022.  

Acquisition and Partnership accounted for the highest number of deals in the last five years, with 16 deals each, followed by Venture Financing (14 deals) and Equity Offering (6 deals).

The top financial advisors supporting deals related to cybersecurity in the power industry in the last five years in terms of value were J.P. Morgan Securities, Barclays Wealth Management, Centerview Partners, Wells Fargo Securities, and Goldman Sachs & Co.

The top legal advisors supporting deals related to cybersecurity in the power industry in the last five years in terms of value were White & Case, Davies Ward Phillips & Vineberg, Davis Polk & Wardwell, Shearman & Sterling, Sidley Austin, Wachtell, Lipton, Rosen & Katz, Simpson Thacher & Bartlett, Weil, Gotshal & Manges, Kirkland & Ellis, and Latham & Watkins.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.  

GlobalData’s Deals database provides comprehensive coverage across industries tracking market activity of global mergers & acquisitions, including asset acquisitions/divestments; private equity deals (PE); venture finance deals (VC); equity offerings, including IPOs, follow-on offerings, and private placements; debt offerings, including private placements, ESG bonds and loans; partnerships; and licensing agreements.  

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumored deals.