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LevelBlue to Acquire Cybereason in Deal Backed by SoftBank and Mnuchin

By  |  October 14, 2025
SoftBank, startups, Light, investment cuts

LevelBlue has entered into a definitive agreement to acquire Cybereason Inc., a cybersecurity company backed by SoftBank Group Corp. and former U.S. Treasury Secretary Steven Mnuchin, according to Bloomberg. The agreement marks a significant step in LevelBlue’s expansion strategy as it seeks to strengthen its position in the cybersecurity sector.

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    LevelBlue, a joint venture between AT&T Inc. and investment firm WillJam Ventures, was formerly known as AT&T Cybersecurity. Per Bloomberg, the company announced that Cybereason—known for its advanced threat intelligence and incident response solutions—will be joining its portfolio. Financial details of the deal have not been disclosed. As part of the transaction, existing Cybereason investors SoftBank, SoftBank’s Vision Fund 2, and Mnuchin’s Liberty Strategic Capital will take equity stakes in LevelBlue. Mnuchin is also set to join LevelBlue’s board of directors.

    “Cybersecurity is now inseparable from economic security and national resilience,” Mnuchin said in the statement. “LevelBlue has rapidly established itself as a leader in integrated managed security services, and I look forward to helping guide its growth at a time when organizations worldwide are seeking trusted partners who understand the complexity of today’s threat landscape.”

    Read more: SoftBank to Acquire ABB’s Robotics Division in $5.4 Billion Deal

    According to Bloomberg, the acquisition comes after a period of transition for Cybereason. The La Jolla, California-based firm, known for its extended detection and response (XDR) platform, recently received a $120 million funding round led by SoftBank in March. Around the same time, Manish Narula replaced Eric Gan as CEO. Earlier this year, Gan filed a lawsuit against SoftBank’s Vision Fund and Mnuchin, alleging they obstructed his fundraising efforts to prevent bankruptcy—a claim both parties denied, saying the accusations were unfounded.

    The deal underscores ongoing consolidation in the cybersecurity market, which has seen heightened acquisition activity as firms pursue scale and technological breadth to address growing threats. Per Bloomberg, recent major deals in the sector include Palo Alto Networks’ $25 billion acquisition of CyberArk Software Ltd. and Alphabet Inc.’s $32 billion purchase of Wiz Inc. As companies increasingly migrate their data to the cloud, the demand for robust cybersecurity solutions continues to surge—making LevelBlue’s latest move a strategic play in a rapidly evolving digital defense landscape.

    Source: Bloomberg