While COVID-19 is resulting in unprecedented volatility, headwinds during election cycles are not uncommon. M&A activity has always been cyclical in nature. In the US, volatility continues to remain a thread that links M&A cycles to past election years. The 2008 election unfolded against the backdrop of a widespread financial crisis, while the fallout from the bursting of the dot-com bubble disrupted the 2000 cycle. 2020 looks to be no different, given the evolving ramifications of COVID-19.

Mergers and acquisition cycle within cybersecurity is set to result in a new high for volume. At its current pace, cybersecurity M&A in the U.S. will just barely eclipse the prior high of 145 closed transactions and hit 148, while deal value is already at a near-record value of $33.2 billion.