M&A Deal Summary

Tufin Acquires Skybox Security

On February 24, 2025, Tufin acquired information technology company Skybox Security from PSG, CVC Capital Partners and Adams Street Partners

Acquisition Highlights
  • This is Tufin’s 1st transaction in the Information Technology sector.
  • This is Tufin’s 1st transaction in the United States.
  • This is Tufin’s 1st transaction in California.

M&A Deal Summary

Date 2025-02-24
Target Skybox Security
Sector Information Technology
Buyer(s) Tufin
Sellers(s) PSG
CVC Capital Partners
Adams Street Partners
Deal Type Add-on Acquisition

Target

Skybox Security

San Francisco, California, United States
Skybox Security is a provider of firewall network compliance and IT risk analysis software for cybersecurity. Skybox Security helps customers predict and prevent critical IT security and compliance exposures before they cause harm, even on the most complex IT networks. Skybox Security was founded in 2002 and is based in San Jose, California.

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Buyer(S) 1

Buyer

Tufin

Boston, Massachusetts, United States

Category Company
Founded 2005
Sector Information Technology
DESCRIPTION

Tufin simplifies the management of some of the largest, most complex networks in the world, consisting of thousands of firewall and network devices and emerging hybrid cloud infrastructures. Tufin was founded in 2005 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: California 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
2024-02-21 Akips

Shailer Park, Australia

Akips develops scalable network and infrastructure monitoring software, delivered as a turn-key software appliance. The company's Network Monitoring Software provides unmatched features, scale, and visibility of critical real-time and historical performance metrics and logs from the heart of the data center to the end user. It allows network engineers to be proactive instead of firefighting: to detect, analyze, and rectify issues and faults before user complaints, and to significantly reduce business impact and disruption. Akips is based in Shailer Park, Australia.

Buy -

Seller(S) 3

SELLER

PSG

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 11 of 20
Sector: Information Technology M&A 4 of 6
Type: Add-on Acquisition M&A Deals 6 of 14
State: California M&A 2 of 3
Country: United States M&A 8 of 14
Year: 2025 M&A 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-13 Uscreen

Bethesda, Maryland, United States

Uscreen offers a range of features to help launch and manage mobile and TV apps, live streaming, video uploading, organizing, and streaming. Uscreen was founded in 2015 and is based in Bethesda, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-26 Checkmk

Munich , Germany

Checkmk ensures IT infrastructures operate at peak performance by providing comprehensive monitoring for cloud, hybrid, and data center environments, as well as modern container infrastructures and networks. Checkmk was founded in 2007 and is based in Munich, Germany.

Buy -
SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 176 of 181
Sector: Information Technology M&A 4 of 4
Type: Add-on Acquisition M&A Deals 65 of 69
State: California M&A 3 of 3
Country: United States M&A 15 of 18
Year: 2025 M&A 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-23 HCG

Bangalore, India

HCG is a large provider of cancer care by operating 23 specialist centers (c.2,000 beds), three multi-specialty hospitals and seven IVF clinics. The business has an expansive geographic footprint, strong brand recognition and a reputation for clinical excellence and successful outcomes. HCG was founded in Bangalore, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-13 Ethniki Insurance

Athens, Greece

Ethniki Insurance is a provider of mortgage services throughout the nation. Ethniki Insurance is based in Athens, Greece.

Sell €600M
SELLER

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 100 of 101
Sector: Information Technology M&A 3 of 4
Type: Add-on Acquisition M&A Deals 53 of 54
State: California M&A 45 of 45
Country: United States M&A 92 of 93
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Actium Health

Palo Alto, California, United States

Actium Health is a healthcare CRM platform that transforms healthcare providers into member-focused enterprises. Actium Health was founded in 2014 and is based in Palo Alto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-08 Greenwood Industries

Worcester, Massachusetts, United States

Greenwood Industries is a custom building envelope solutions company that provides commercial roofing, architectural metal fabrication, waterproofing, and maintenance and service solutions for all exterior building systems. Greenwood Industries was founded in 1992 and is based in Worcester, Massachusetts.

Buy -