Thycotic has purchased network security company Cyber Algorithms for an undisclosed amount. The deal for the target’s big data analytics accentuates the interest in cybersercurity firms due to increased hacker activties. Strategic buyers and dealmakers are optimistic that M&A activity in the sector will continue.
Cyber Algorithms develops technology that uses behavior analytics to help security operations teams detect cyberattacks and data intrusions early. The target was formed in 2015 out of Mach37 Cybersecurity Accelerator, an incubator for startups in the sector, before receiving an early investment from Insight Venture Partners. Cyber Algorithms, based in Virginia, offers full-service network security monitoring to small and medium-sized businesses.