Deal activity by volume related to cybersecurity increased by 57% year-on-year in 2023 in the oil and gas industry

A​​​​​​​nalysis of the key themes driving deal activity reveals that cybersecurity accounted for 31 oil and gas deals between 2019 and 2023, worth a total value of $1,519m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships.  

The $294m acquisition of Indra Sistemas by JPMorgan Chase & Co was the largest disclosed deal in 2023, while the $28m venture financing secured by Todyl was the largest disclosed deal in 2022.  

In volume terms, cybersecurity related deal activity increased by 57% year-on-year in 2023 and increased by 40% year-on-year in 2022.  

Acquisition accounted for the highest number of deals in the last five years, with 11 deals, followed by Venture Financing (10 deals), Partnership (5 deals), Equity Offering and Merger (2 deals each), and Asset Transaction (1 deal).

The top legal advisors supporting deals related to cybersecurity in the oil and gas industry in the last five years in terms of value were Weil, Gotshal & Manges, Baker Botts, and King & Spalding.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.  

GlobalData’s Deals database provides comprehensive coverage across industries tracking market activity of global mergers & acquisitions, including asset acquisitions/divestments; private equity deals (PE); venture finance deals (VC); equity offerings, including IPOs, follow-on offerings, and private placements; debt offerings, including private placements, ESG bonds and loans; partnerships; and licensing agreements.  

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumored deals.