September Tech Round-Up: The Cybersecurity Edition
Cybersecurity has rocketed towards the top of many risk registries, and IT spending to secure networks, data and systems is growing strongly. That’s good news for cybersecurity vendors and provides ample opportunities for investors in a sector where valuations have already significantly retreated along with the wider tech category.
Enjoy, from all of us at North Ridge Partners…
Original Thinking From North Ridge Partners
Cybersecurity stocks have taken a big hit as the tech sector has retreated. But the broader trends of accelerating digitalisation and the growing sophistication of the cybercrime ecosystem are likely to drive strong demand for software and services in the years ahead.
M&A activity in the cybersecurity segment remains robust, with a clutch of multi-billion-dollar deals already this year. However, Broadcom’s $61bn takeover of VMWare positions the company as a top-tier provider due to VMware’s growing portfolio of solutions.
In this month’s minicast, North Ridge Partners’ Fiona Robertson looks at the trends in the sector.
Stressing about how to keep all those prying eyes from spying on your secrets? Here’s a playlist of songs to inform your cybersecurity journey.
What We’ve Been Up To
Singapore Sling: Since US lawmakers started exerting pressure on Chinese companies listed on US stock exchanges in 2020, there has been a frenzy of activity as they've sought secondary exchanges elsewhere. NIO, the US$31bn EV and battery behemoth, obtained its secondary listing on SGX in May 2022.
We're proud to say that our alliance partners at PrimePartners (who are shareholders in North Ridge Partners) acted as financial advisor to NIO on its Singapore listing. We're building out our cleantech practise at North Ridge Partners - stand by for more news.
Asia Pacific Tech News
Alibaba sets its eyes on Europe with $912mn Lazada investment.
A killer move? Tencent takes a stake in the maker of Assassin’s Creed.
Nasdaq listed online travel agent Yatra sets sail for the Indian bourses.
Baidu’s Quantum leap with what it describes as the world’s first hardware-software integrated quantum computer.
Markets Action
In the tech sector, the chips may be down but Broadcom is up.
Buy now, lose later. How Klarna’s losses tripled to $850mn.
With a SNAP of the fingers, 20 percent of the headcount disappears.
Lyft stock up 15 percent on GM acquisition rumours.
Big Tech
Life is too short for three-hour interviews, but some random quotes from Zuck’s chat with Joe Rogan could be fun.
Meta has a quitter problem and teens head for the Tok.
Apple inks a satellite deal with GlobalStar.
Amazon tightens belt in run up to Christmas, closing two US facilities and scrapping plans for more than forty others.
US export restrictions put a dampener on Nvidia’s outlook.
Stuff We Found Interesting
US military to get Microsoft’s combat goggles worth $21.9bn, at last.
We all know cyber wars cost money. Who, exactly, pays for them?
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