Cybersecurity Monthly Market Review: February 2026 (Momentum Cyber)

Summary

• February 2026 saw $1.0B spent across 37 cybersecurity M&A transactions, the 4th most cybersecurity M&A deals ever recorded.p.25
• February deal value was up 66% year over year, while deal count was up 19%.p.25
• There were 61 financing deals in February, 15% lower than the 13-month median count.p.2
• Cybersecurity dealmaking reached historic highs in 2025, with $96B deployed across 400 M&A transactions.p.16
• In January 2026 there were 38 M&A transactions with $1.4B in disclosed value, and 72 financing transactions with $1.3B deployed.p.18
• The number of AI Security vendors tracked rose from 86 by April to over 330 entering 2026.p.20

Key insights

1. The 2025 M&A deal value grew 270% year over year while deal count grew 22%.p.16
2. Across the Top 100 transactions, strategic buyers paid a median value of $3.7M per employee.p.17
3. In January 2026, AI Security commanded 30% of capital while Risk & Compliance led in deal volume.p.18
4. CYBERscape 4.0 consolidates the ecosystem into 12 core sectors and 62 subsectors, covering 1,562 companies.p.19
5. Cybersecurity M&A is on pace for 489 deals annualized based on February activity.p.25