• The UK was the most active CyberTech country in Q3 2022 with five deals, a 23% share of total deals in Europe this quarter. Switzerland and Germany were the joint second most active countries, accounting for 18% each. The CyberTech sector raised $328m in total during Q3 2022.
• Acronis, an all-in-one Cyber Protection provider was the largest CyberTech deal in Q3 2022 raising $250m in their latest Private Equity round led by BlackRock. The funding will be used to expand its business, including through acquisitions and hiring and pushes Acronis’ valuation to a sizeable $3.5bn valuation, increasing from $2.5bn. Acronis accounted for 76% of European CyberTech investment in Q3.
• The European Commission published a proposal for a Cyber Resilience Act on 15 September 2022 (the ‘Regulation’), which aims to: ensure that cyber security is considered during the development of hardware and software products and is continuously improved throughout that product’s life cycle; and improve transparency so that users can take cybersecurity into account when selecting and using a product with digital elements.
