2H 2021 Technology M&A Report

Remember the 1990s when the biggest headache on the web were popup ads? Today, pirates roam the internet snatching data and holding information and systems hostage, elevating the need for robust, sophisticated cybersecurity measures. The World Economic Forum’s (WEF) latest Global Risk Report dedicates an entire section to data breaches and hacking and reports the issue has gone beyond financial losses to creating international political tensions. A trend toward remote working due to COVID, an increasing reliance on online systems, the rise of cryptocurrency, cloud services, 5G data transmission, digital supply chain management, and complete digitization of virtually every facet of our lives is making cybersecurity a critical need. Cybersecurity, the report warns, is no longer optional, adding, “The impact of disruptive cyberattacks could be financially devastating for businesses that fail to invest in protections for their digital infrastructure.” Global IT consulting giant Accenture in 2021 reported a 125% increase year-over-year in cybercrime and state-backed attacks with the United States representing more than a third of all targeted attacks globally. Nearly 40% of attacks represented “big game hunting,” ransomware attacks targeting organizations with recurring annual revenue over $1 billion…