In this special year-end episode of Inside the Network, we’re joined by two of the most trusted strategic advisors in cybersecurity - Dino Boukouris, Managing Partner at Altitude Cyber, and Sam Bronstein, Partner at AXOM Partners. Between them, they’ve worked on billions of dollars in cybersecurity M&A, helped founders navigate exits to the world’s largest tech companies, and advised the CEOs behind some of the biggest public and private deals in the industry.

In this episode, which also happens to be the 20th episode of Inside the Network, we break down what really happened across the cybersecurity landscape in 2025, from customer buying patterns and budget constraints to the $96B in M&A deal volume. Dino and Sam share insights on what’s driving consolidation, how buyers think about valuation and timing, and what defines a hot company in 2026 (hint: it’s not just growth).

We talk about how mega-deals like Wiz and CyberArk are reshaping competitive dynamics in the industry, why SASE, identity, and security for AI have been the most active M&A themes, and what founders need to understand about building relationships with buyers long before they’re ready to exit. Sam and Dino explain that founders who achieve the best outcomes usually build relationships with potential acquirers over many years, and break down why many late-stage founders are likely to choose acquisition over IPO in the coming cycle.

We close with tactical advice for founders heading into 2026: how to think about your board and investors, what metrics you’ll be judged on, and how to align your capital strategy with your long-term goals. And yes, we also talk about race cars, zero interest rates, outcome-based pricing, and what Palo Alto Networks might buy next.

Dino Boukouris & Sam Bronstein: How AI, identity, and cloud security defined 2025 and what 2026 holds for founders