Ziff Davis Acquires TDS Gift Cards from Tornante and Madison Dearborn

Madison Dearborn Partners Acquires T2S Solutions

November 29, 2023

Aerospace & Defense

Funds affiliated with Madison Dearborn Partners have acquired T2S Solutions, a founder-owned provider of R&D, prototyping, engineering, integration, and technology products serving the U.S. Department of Defense, the Intelligence Community, and other U.S. government agencies. The T2S founders will retain a significant minority stake and continue to lead the company as MDP provides capital and industry expertise to accelerate R&D, bring products to lead production, and expand mission-focused capabilities.

Madison Dearborn Partners to Acquire Zilliant

December 6, 2021

Cloud & SaaS

Funds affiliated with Madison Dearborn Partners have agreed to acquire Zilliant, a cloud-native B2B price optimization and price management software company headquartered in Austin, Texas. The deal (terms undisclosed) is expected to close in Q4 2021, with MDP taking a controlling stake to support Zilliant's growth and product innovation.

NV5 Acquires Technical Design Services, Inc.

November 16, 2023

Engineering Services

NV5 Global, Inc. acquired Technical Design Services, Inc. (TDSi), a Chicago-based provider of data center and technology infrastructure design and consulting services. The deal (cash and stock) expands NV5's capabilities in data center, audiovisual, security, and telecommunications design, adds recurring revenue (approximately 80% of TDSi's revenue), and strengthens NV5's relationships in the aviation and government sectors.

Ziff Davis Acquires Equity Stake in CNET

October 1, 2024

Media & Entertainment

Ziff Davis, Inc. announced it completed an acquisition of equity in CNET in Q3 2024. Terms were not disclosed; Ziff Davis said the deal grows its global customer base, provides access to new markets and expands its product lineup, with no material financial impact expected.

Fifth Third Acquires DTS Connex

August 20, 2025

Payments & Fintech

Fifth Third Bancorp (Fifth Third Bank) has acquired DTS Connex, a provider of cash management software for multi-location businesses, to bolster its Commercial Payments capabilities in cash logistics, infrastructure and risk management. DTS Connex will operate as a wholly owned subsidiary effective August 1, continuing as a standalone business; financial terms were not disclosed.

Blackhawk Network to Acquire Tango Card

January 31, 2024

Cloud & SaaS

Blackhawk Network (BHN) has entered into a definitive agreement to acquire digital B2B gift card and rewards platform Tango Card to enhance BHN’s global rewards and incentives capabilities. The deal, which builds on BHN’s prior investment relationship with Tango and Tango’s 800% growth since FTV Capital’s 2018 investment, is subject to regulatory approvals related to money transmitter licenses and is expected to close later in the year.