华利安：2025年第二季度全球网络安全市场更新报告（英文版）

Q2 activity showed signs of a contracting M&A market, with deal activity similar to 2024 levels; however, the uptick in financing deal count conveys strong investor appetite for cyber assets.  Strong public market performance demonstrates sustained investor demand and willingness to deploy dollars.  We anticipate activity to rise throughout 2025 alongside growing tariff and macroeconomic clarity.  This past quarter, Broadcom and Zscaler saw the greatest stock price movements, with the