M&A activity in the Security sector saw 355 deals during 2024, reaching the second highest total in the last 10 years. Demand was strong from strategic and financial buyers with PE firms acquiring 155 Security companies.

Throughout 2024, total disclosed M&A transaction values reached $21.5B, exceeding levels seen in 2023.

Looking at VC funding, during 2024 these investments remained well below peak levels seen in 2021, encouraging companies to instead pursue M&A strategies for growth and liquidity.

Throughout 2024, strategic companies were the top acquirers of Security companies. Pye Barker made 10 acquisitions followed by Assa Abloy and Sciens which made 4 acquisitions each.