M&A Deal Summary

LevelBlue Acquires Trustwave

On July 1, 2025, LevelBlue acquired software company Trustwave from MC2 Security Fund

Acquisition Highlights
  • This is LevelBlue’s 1st transaction in the Software sector.
  • This is LevelBlue’s 1st transaction in the United States.
  • This is LevelBlue’s 1st transaction in Illinois.

M&A Deal Summary

Date 2025-07-01
Target Trustwave
Sector Software
Buyer(s) LevelBlue
Sellers(s) MC2 Security Fund
Deal Type Add-on Acquisition
Advisor(s) Guggenheim Securities (Financial)
Pillsbury Winthrop Shaw Pittman (Legal)

Target

Trustwave

Chicago, Illinois, United States
Trustwave is a cybersecurity company that reduces cyber risk and fortifies organizations against disruptive and damaging cyber threats. The company's comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimizes its client’s cyber investment, and improves security resilience. It is an analyst-recognized leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. Trustwave was formed in 1995 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

LevelBlue

Plano, Texas, United States

Category Company
Sector Internet Software and Services
DESCRIPTION

LevelBlue is a provider of cloud-based, AI-driven managed security services, headquartered in Plano, Texas.


DEAL STATS #
Overall 2 of 4
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 3
Year: 2025 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-11 Aon - Cybersecurity & IP Litigation Consulting Groups

Dublin, Ireland

Aon's Cybersecurity & IP Litigation Consulting Groups provides technology-related IP litigation matters.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-01 Stroz Friedberg

New York, New York, United States

Stroz Friedberg is a cybersecurity consulting firm specializing in digital forensics, incident response, and risk management for high-stakes cyber events. Stroz Friedberg is based in New York, New York.

Buy -

Seller(S) 1

DESCRIPTION

The Chertoff Group provides growth capital investments through its MC² Security Fund—managed by its affiliate MC² Investment Management. The Funds look to partner with companies operating the cybersecurity, defense technology, homeland security, and government services sectors. Investment proceeds are structured to fund acquisitions, organic R&D expansion, or recapitalizations. The Chertoff Group and MC2 Security Fund is headquartered in Washington DC.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-05 Trustwave

Chicago, Illinois, United States

Trustwave is a cybersecurity company that reduces cyber risk and fortifies organizations against disruptive and damaging cyber threats. The company's comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimizes its client’s cyber investment, and improves security resilience. It is an analyst-recognized leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. Trustwave was formed in 1995 and is based in Chicago, Illinois.

Buy -