Tracked deals
390
390 tracked deals across 2025.
Tracked deals
390
390 tracked deals across 2025.
Buyer mix
Strategic-led
328 strategic · 96 pe
Top trend
Volume peaked in 2021
468 tracked deals announced in 2021.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Thoma Bravo | 7 | Software-focused investment firm that partners with portf... | PE |
| TPG | 4 | Global alternative asset manager investing across private... | PE |
| Ideagen | 3 | Provider of governance, risk and compliance (GRC) and EHS... | Strategic |
| ServiceNow | 3 | Enterprise AI and workflow automation platform company (“... | Strategic |
| Smart Communications | 3 | Provider of the Conversation Cloud platform for enterpris... | Strategic |
| Allegion plc | 2 | Global security products and solutions provider offering ... | Strategic |
| Arlington Capital Partners | 2 | Washington D.C.-area private investment firm specializing... | PE |
| Bain Capital | 2 | Global private investment firm deploying capital across p... | PE |
| Banyan Software | 2 | Acquirer and permanent owner of niche enterprise software... | PE |
| Banyan Software, Inc. | 2 | Permanent-capital acquirer and operator of enterprise sof... | PE |
Last 10 years
Supporting Data
Alliance Entertainment (NASDAQ: AENT) completed the acquisition of Endstate, effective December 31, 2025, acquiring all Endstate assets and forming a wholly owned subsidiary, Endstate Authentic LLC. The purchase brings Endstate's NFC- and blockchain-enabled product authentication technology and founders into Alliance to expand authenticated resale, digital product identity, and brand protection capabilities across Alliance's global distribution network.
Ellucian completed its acquisition of Anthology's Student Information Systems (SIS) and Enterprise Resource Planning (ERP) business, which Ellucian had been named the successful bidder to acquire during Anthology's Chapter 11 bankruptcy process. Ellucian will continue to deliver and maintain the existing SIS and ERP systems for continuity, while expanding access to its broader higher-education technology ecosystem.
Brivo and Eagle Eye Networks have merged to form a single AI cloud-native physical security company operating under the Brivo name. The combined Brivo Security Suite unifies cloud access control, video intelligence, visitor management and intrusion capabilities; Dean Drako will serve as CEO and Steve Van Till as President, with U.S. headquarters in Bethesda, Maryland and Austin, Texas.
Ooma, Inc. signed a definitive agreement to acquire Phone.com, a cloud communications/UCaaS provider for SMBs, for approximately $23.2 million in cash. Ooma completed the acquisition, expanding its UCaaS footprint in the SMB market by adding a second established business communications brand.
Everybody Loves Languages Corp. (ELLC) and ELL Ventures Ltd. (EV) have approved a related-party amalgamation to form a new private company (“Amalco”). The shareholders of ELLC (other than EV) will receive cash of $0.085 per share, and ELLC plans to delist from the TSX Venture Exchange following completion.
Coinbase has agreed to acquire The Clearing Company, a prediction markets startup, to help Coinbase power and scale prediction markets on its platform. The deal is aimed at accelerating The Clearing Company’s roadmap toward Coinbase’s “Everything Exchange” vision and expanding specialized talent in event-contract trading and market design.
ZenaTech, Inc. has acquired Vara 3D, a Salt Lake City-area surveying and 3D mapping firm headquartered in Murray, Utah. The deal expands ZenaTech’s Drone-as-a-Service (DaaS) capabilities into the high-growth solar infrastructure market and supports growth into drone-based solar panel inspection, maintenance, and washing.
Renvent Holdings LLC has acquired 100% of DataGavel from co-founders Johnny Friedman and Shane O'Neill, completing Renvent's ownership of the legaltech platform. The transaction positions Renvent to scale DataGavel's SaaS litigation analytics product, accelerate the roadmap, and expand commercial adoption among corporate defendants and defense counsel.
HCLSoftware, the software business division of HCLTech, announced its intent to acquire Wobby, an early-stage startup providing AI data analyst “agents” for data warehouses. The acquisition is expected to close by February 2026 and is intended to add agentic AI data analyst capabilities to HCLSoftware’s Actian Data Intelligence Platform.
HCLSoftware, the software business division of HCLTech, announced its intent to acquire Jaspersoft, a business unit of Cloud Software Group, which provides an embedded analytics and pixel-perfect reporting platform. The acquisition is expected to close within six months of signing and is intended to accelerate HCLSoftware’s agentic business intelligence roadmap by adding embedded analytics and reporting capabilities to its Data 26 AI division (Actian).
Stingray Group Inc. entered into a definitive agreement to acquire TuneIn Holdings, a live audio streaming and ad monetization platform. The deal is valued at up to US$175 million (US$150 million paid at closing and up to US$25 million payable one year later) and was expected to close by year-end 2025; a later announcement confirmed the acquisition closed.
Coursera and Udemy signed a definitive all-stock merger agreement valued at about $2.5 billion to combine their online learning platforms into a larger skills and workforce development business aimed at the AI era. Coursera later announced the transaction closed on May 11, 2026, with Udemy delisted from NASDAQ and continuing shareholders receiving 0.800 shares of Coursera for each Udemy share.
RELEX Solutions has acquired Ida, a Paris-based SaaS company that provides AI-driven fresh replenishment and store ordering optimization for loose and perishable grocery items. The acquisition integrates Ida’s store-level fresh optimization capabilities into RELEX’s AI-driven supply chain and retail planning platform to strengthen fresh store ordering, in-store production planning, and reduce waste while improving availability for grocery retailers across Western Europe.
CivicPlus, a public-sector SaaS provider, has acquired Streamline, a Sacramento-based provider of special-district website solutions and the DocAccess PDF-to-HTML accessibility tool. The deal adds Streamline's ADA-focused conversion technology and special district workflow features to CivicPlus' Civic Impact Platform, expanding accessibility and capabilities for local governments.
VeriFast, a Toronto-based AI-powered Verification-as-a-Service platform, has acquired Opsansa, a San Francisco–based provider of automated property management support. Opsansa CEO Rowan Aldean will join VeriFast as VP of Automation to lead integration of agentic workflow automation into VeriFast’s leasing and screening platform, accelerating resident approvals and reducing operational friction for multifamily property managers.
Cvent has acquired Goldcast, an AI-powered B2B video content and webinar platform, to integrate Goldcast's automated video-clipping and content-repurposing capabilities into Cvent's event marketing and management platform. The deal will allow Cvent customers to instantly convert event moments into on-brand video content and extend the lifecycle and revenue impact of webinars and events.
Sysdyne Technologies has acquired Slabstack to create an AI-powered, end-to-end cloud platform that unifies pricing, CRM, sales optimization, operations, dispatch, delivery and billing for construction materials producers. The acquisition expands Sysdyne’s capabilities beyond ready-mix into aggregates and asphalt while Slabstack will continue operating under its existing leadership as a standalone product within the Sysdyne family.
Indus Growth Fund (through its investors) has completed a majority, strategic investment in Vitalwerks Internet Solutions, LLC d/b/a No-IP, a provider of Dynamic DNS, Managed DNS, and remote access solutions. Suchit Rout (Founding Managing Partner of Indus Growth Fund) will assume the role of CEO while founder Dan Durrer moves to Founder & CTO, with additional support from investors including Relay Investments.
ID-Pal, an AI-powered identity verification platform, has acquired Know Your Business specialist NorthRow to add native KYB capabilities to its compliance offering. The acquisition expands ID-Pal’s ability to deliver unified KYC/KYB/AML solutions and brings NorthRow customers such as Caxton, Equifax, and Hargreaves Lansdown into ID-Pal’s client portfolio.
AppDirect announced the closure of its acquisition of vCom Solutions for a value of over $100 million. The deal adds vCom’s network and mobility lifecycle management platform, as well as its Buyers’ Club program and managed services, into AppDirect’s unified lifecycle management and procurement suite for B2B advisors and their end customers.
Thoma Bravo has entered into a definitive agreement to acquire PROS Holdings in an all-cash transaction valued at approximately $1.4 billion. PROS shareholders will receive $23.25 per share in cash, and the deal is expected to close in Q4 2025 (with completion later confirmed in December 2025).
Banyan Software has acquired Northwoods Consulting Partners, Inc., a provider of cloud-native software (Traverse) and services for state and county Health & Human Services agencies. The acquisition expands Banyan's public sector capabilities and will support further investments in Traverse, automation, and AI tools for frontline caseworkers.
Semify has acquired Hong Kong–based Dragon Metrics, a global SEO, AI, and PPC reporting SaaS platform, to expand its AI optimization and international measurement capabilities. As part of the deal, Dragon Metrics co-founder Simon Lesser joins Semify as Chief Product Officer and the Dragon Metrics engineering team will be integrated into Semify’s engineering organization while the Dragon Metrics brand will continue to operate independently.
Tata Communications has acquired a 51% majority stake in Commotion Inc., an AI-native enterprise SaaS platform that provides omnichannel CX orchestration, voice AI and autonomous digital agents. The deal (cash-only, via a stock purchase agreement) will integrate Commotion’s orchestration engine into Tata Communications’ Kaleyra Customer Interaction Suite to accelerate AI-driven capabilities across its Digital Fabric offerings.
Connectbase has acquired Cloud Age, a telecom invoice automation and spend-management SaaS provider, integrating Cloud Age's spend-intelligence and invoice-normalization capabilities into Connectbase's connectivity transaction platform. Equality Asset Management (EAM) made a strategic investment in Connectbase to support the acquisition and accelerate global expansion.
LogicMonitor has completed the acquisition of Catchpoint to create an AI‑powered, end‑to‑end observability platform that combines deep infrastructure telemetry with Internet‑level visibility. Pulse 2.0 reported the deal is valued at over $250 million; Cantor Fitzgerald advised Catchpoint while Jefferies LLC and William Blair advised LogicMonitor.
Cegid has completed its acquisition of Shine, a European fintech unicorn providing electronic invoicing, accounting, business accounts, payroll, and related payment solutions for small and medium-sized businesses. The combined company will create a fully integrated, cloud-native, AI-driven financial hub for SMBs and accounting professionals across multiple European markets.
Perwyn has entered an agreement to exit its holding in Interact Software, selling it to funds managed by Castik Capital. Interact is headquartered in Manchester, UK and provides a SaaS platform for internal communication, knowledge sharing, and employee engagement.
PayRange announced it will acquire KioSoft Technologies, a global provider of cashless payment and IoT solutions for unattended retail machines. The deal is intended to modernize millions of coin-operated and self-service machines by combining PayRange’s mobile-first payments platform with KioSoft’s footprint and operator network. Financial terms were not disclosed.
Summit acquired HorizonIQ to combine Summit’s flexible, high-touch cloud and colocation with HorizonIQ’s automation and cloud operations modernization capabilities. The combined offering is intended to enhance resilience, support smarter cloud choices, and expand capabilities for workloads including AI and hybrid environments.
Thoma Bravo agreed to acquire Verint Systems, Inc. for an all-cash transaction valued at about $2 billion. The deal was completed on November 26, 2025, and Thoma Bravo combined Verint with its portfolio company Calabrio to create a broader AI-powered customer experience (CX) automation platform.
Zeta Global has completed the acquisition of Marigold's enterprise software business (including Marigold Loyalty, Cheetah Digital, Selligent, Sailthru, Liveclicker, and Grow) for aggregate consideration of up to $325 million. The deal expands Zeta's AI marketing platform capabilities across loyalty, omni-channel engagement, and personalization, broadening its enterprise customer base and subscription revenue streams.
Workday has signed a definitive agreement to acquire Pipedream, an AI integration platform for connecting AI agents to enterprise systems. The acquisition is expected to deepen Workday’s enterprise AI strategy by linking trusted HR and finance data with more than 3,000 business applications.
DealHub.io has acquired Subskribe, a subscription management, consumption metering, and billing platform, to integrate advanced billing and revenue capabilities into its AI-powered Quote-to-Revenue platform. The deal expands DealHub's CPQ offering to provide end-to-end revenue orchestration—covering quoting, subscription management, usage-based billing, and revenue recognition—for SaaS and AI-first enterprises.
Yello, a provider of early-talent acquisition software, has acquired Symba, a platform for new-hire readiness and internship/onboarding management. The deal will integrate Symba’s onboarding and engagement tools into Yello’s campus recruiting suite and bring Symba’s founding team into Yello to accelerate product integration and expand capabilities for early-career talent programs.
RedSail Technologies has acquired RxMile, a delivery management platform built for independent pharmacies, to expand its pharmacy delivery and patient-centered technology capabilities. The acquisition integrates RxMile's HIPAA-compliant delivery routing, real-time tracking, and communications features into RedSail's portfolio to help its network of pharmacies improve delivery operations and patient service.
GHO Capital Partners LLP acquired Scientist.com, the AI-enabled R&D orchestration platform for life sciences, in a deal intended to accelerate global scale and technology development. Scientist.com will expand platform adoption (including across Europe) and invest in next-generation AI/automation capabilities for outsourced R&D procurement and compliance workflows.
Itron has signed a definitive agreement to acquire Locusview, a U.S. and Israel-based software and services company focused on the utility sector, for $525 million. The cash-funded deal is expected to close in January 2026 and will bring Locusview’s digital construction management SaaS platform into Itron’s resiliency solutions portfolio.
EETech Group has acquired Datasheets.com from SiliconExpert Technologies, Inc. The acquisition brings Datasheets.com's extensive electronic component datasheet database into EETech's portfolio to enhance search, parametric capabilities, and integration across EETech's engineering-focused platforms.
Azul, a Java-focused enterprise software company, entered into a definitive agreement to receive a majority strategic investment from Thoma Bravo. Existing investors Vitruvian Partners and Lead Edge Capital will reinvest and retain minority stakes alongside Azul employees.
CRScube has acquired Mednet to accelerate its expansion into the North American market and broaden its global eClinical SaaS capabilities. The combined company will integrate complementary EDC-centric platforms and related eClinical tools (CTMS, RTSM, ePRO, eTMF) to offer a more complete, scalable suite for sponsors and CROs across pharmaceuticals, biotech, and medical devices.
GrubMarket has acquired Procurant, a Los Gatos, California–based SaaS platform that streamlines procurement, order management and food-safety compliance for the fresh produce supply chain. The acquisition expands GrubMarket’s AI-powered software portfolio and integrates Procurant’s trading network and traceability/quality tools into GrubMarket’s ERP, AI agents and payments ecosystem.
Cloudflare agreed to acquire Replicate, an AI platform that helps developers deploy and run AI models. The deal is expected to close in the next two months and will expand Cloudflare Workers AI with model access, custom models/pipelines, and Replicate’s AI inference and container capabilities.
Salesforce has signed a definitive agreement to acquire Doti, an agentic enterprise search company focused on unified search and knowledge discovery. The deal is intended to expand Salesforce’s AI R&D hub in Israel and accelerate the development of a unified, agentic search layer across Salesforce’s platform, with Slack serving as the conversational interface for the next-generation capability.
Warburg Pincus acquired a controlling stake in VOLL, Latin America’s next-generation corporate travel management platform, with an investment of more than $120 million. The deal includes funding to accelerate VOLL’s transformation of corporate travel and expense management using AI-powered solutions, with founders continuing to lead the business.
Fluxx, the cloud-first grants management platform, has acquired Grantseeker to create a unified, end-to-end grants management ecosystem connecting funders, seekers, and dual-role organizations. Grantseeker will operate as a dedicated product line within Fluxx, retaining its product and engineering teams while leveraging Fluxx's scale to accelerate product integration and innovation.
BTQ Technologies Corp. has completed its acquisition of QPerfect SA, a French neutral-atom quantum software and emulation company based in Strasbourg. The deal follows BTQ’s prior investment and its exercise of an option to acquire the remaining outstanding shares, making QPerfect a wholly owned subsidiary of BTQ.
Decisions and ProcessMaker announced a merger to form a combined Business Orchestration and Automation Technologies (BOAT) company, bringing together ProcessMaker’s AI-enriched workflows and Intelligent Document Processing with Decisions’ enterprise rules engine and orchestration capabilities. The combined company, backed by private equity firm Aldrich Capital Partners and led by CEO Giles Whiting, will serve more than 700 customers across industries including financial services, healthcare, insurance, education, manufacturing and government.
Revvity, Inc. has entered into a definitive agreement to acquire ACD/Labs, a provider of scientific software for analytical characterization and molecular design. The deal is expected to close in late Q4 2025 and will expand Revvity Signals by unifying analytical data with actionable scientific insights across the end-to-end scientific workflow.
Megaport Limited (ASX: MP1) announced it has entered into an agreement to acquire Latitude.sh, a global Compute-as-a-Service (CaaS) provider. The combined platform will unite Megaport’s private high-speed connectivity network with Latitude.sh’s CPU/GPU compute infrastructure to enable enterprises to deploy and interconnect workloads across 1,000+ data centers in 26 countries, including AI workloads.
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