The year 2024 has witnessed a record-breaking surge in tech mergers and acquisitions, with over $250 billion in deals announced globally in the first half of the year alone. As the tech landscape continues to evolve at breakneck speed, artificial intelligence has emerged as a key driver of this M&A activity, with major corporations and private equity firms racing to acquire cutting-edge AI solutions.
These strategic acquisitions are reshaping business strategies and paving the way for future innovations. In this article, we’ll delve into the most significant tech mergers and acquisitions of 2024, month by month, and explore their impact on the industry’s trajectory.
HubSpot Acquires Frame AI
HubSpot has entered into a definitive agreement to acquire Frame AI, a pioneering provider of AI-powered conversation intelligence solutions. This strategic acquisition is designed to bolster HubSpot’s ability to extract valuable insights from unstructured conversation data, ultimately enhancing its customer relationship management (CRM) and engagement platforms. By integrating Frame AI’s cutting-edge technology, HubSpot aims to empower businesses to make data-driven decisions, deliver personalized customer experiences, and drive revenue growth.
Proofpoint has acquired Normalyze, a data security posture management (DSPM) company. This move fortifies Proofpoint’s cybersecurity platform with Normalyze’s AI-powered technology, enhancing data discovery, classification, and protection. The combined expertise delivers unparalleled cybersecurity solutions to customers.
Logpoint has announced the acquisition of Muninn, a cutting-edge AI-driven network detection and response (NDR) provider. This strategic move enhances Logpoint’s cyber defense capabilities, delivering advanced threat detection and incident response. The acquisition also strengthens Logpoint’s security information and event management (SIEM) offerings, empowering organizations to identify and mitigate cyber threats proactively.
Cyera has completed the acquisition of Trail Security for $162 million. This strategic acquisition integrates Trail Security’s AI-enhanced data loss prevention (DLP) technology into Cyera’s Data Security Posture Management (DSPM) platform. The combined solution enhances Cyera’s cybersecurity offerings, providing organizations unparalleled visibility, control, and protection of their sensitive data.
Triton has signed an agreement to acquire Bosch Group’s security and communications technology product business (BSCT), marking its second carve-out from Bosch. The transaction is subject to regulatory approval and is expected to close by mid-2025.
Mahindra-British Telecom (MBT) and Axes Technologies
Mahindra-British Telecom (MBT) has signed an agreement to acquire Bangalore-based Axes Technologies for USD 54 million. This acquisition will enhance MBT’s capabilities in the Telecom Service Provider sector. Axes Technologies specializes in R&D, product engineering, and lifecycle support for Telecom Equipment Manufacturers.
Triton has agreed to acquire Bosch’s security and communications technology product business (BSCT), its second carve-out from Bosch. The acquisition includes video surveillance, access control, and professional communication solutions. BSCT operates globally with 4,300 employees and generates revenue exceeding €1 billion, boasting renowned brands such as Dynacord and Electro-Voice.
DwyerOmega and Process Sensing Technologies
DwyerOmega, a portfolio company of Arcline Investment Management, has acquired Process Sensing Technologies Ltd (PST), thereby expanding its sensing and instrumentation capabilities. Based in the UK, PST provides critical measurement and monitoring solutions across multiple parameters, which enhance safety, energy efficiency, product quality, and compliance worldwide.
Capgemini has closed the acquisition of Syniti, enhancing its data-driven digital transformation capabilities, particularly in North America. Syniti, specializing in enterprise data management, will bolster Capgemini’s expertise in complex data migrations, including SAP S/4HANA, and support clients with data governance and compliance initiatives.
Hardware and Semiconductors
AMD has announced its acquisition of ZT Systems, a server manufacturer, for approximately $4.9 billion. This strategic acquisition is expected to enhance AMD’s capabilities in delivering comprehensive AI solutions and reinforce its position in the server market.
NVIDIA and AI Tools Company
NVIDIA has acquired a specialized AI tools company as part of its strategy to broaden its cloud infrastructure and AI offerings. This acquisition further cements NVIDIA’s leadership in the AI space.
Renesas Electronics and Altium
Renesas Electronics has completed its acquisition of Altium, a leading provider of PCB design software, for $5.9 billion. This acquisition will enable Renesas to enhance its digital device design offerings and provide advanced tools to support system designers.
Here are the major deals that occurred in November 2024 in technology:
Yotta Data Services and IndiQus Technologies
Yotta Data Services has acquired IndiQus Technologies, Apiculus’s parent company, to bolster its cloud and AI offerings. This strategic acquisition enables Yotta to expand its portfolio, positioning the company to develop an AI-focused cloud platform and further strengthen its cloud and AI service capabilities.
iCapital has agreed to acquire AltExchange, a Colorado-based firm specializing in AI-driven data aggregation, management, and reporting for financial advisors and asset managers. The acquisition aims to enhance iCapital’s data management capabilities, complementing its internal R&D efforts. AltExchange’s platforms enhance investor reporting and optimize tax workflows.
Zand Bank, Alibaba Cloud and Ant Digital Technologies
Zand Bank, a Dubai-based digital challenger, has partnered with Alibaba Cloud and Ant Digital Technologies to accelerate the adoption of generative AI, blockchain, and payment technology in the UAE. This collaboration focuses on developing fintech solutions, including real-world assets, e-wallets, and mobile Platform-as-a-Service (mPaaS).
Moody’s and Numerated Growth Technologies
Moody’s has acquired Numerated Growth Technologies, a commercial lending platform, for an undisclosed amount. Numerated’s AI-powered financial analysis streamlines lending processes for over 30,000 financial institutions and 500,000 businesses. This acquisition will integrate Numerated’s technology into Moody’s lending suite, creating a comprehensive loan origination and monitoring solution.
SAS has acquired Hazy, a leading synthetic data technology firm, to bolster its data and AI offerings. This acquisition strengthens SAS’s ability to provide secure, innovative AI solutions. Customers can now generate synthetic data for modeling and experimentation, improving the availability and quality of AI applications.
Prestige Wealth Inc and Innosphere Tech
Prestige Wealth Inc. (PWM) has acquired Innosphere Tech for $2.1 million in Class B shares and warrants, enhancing its AI-driven wealth management technology. The deal includes the retention of key employees and non-compete agreements. Additionally, PWM has completed its acquisition of Wealth AI, strengthening its asset management services.
Accenture has acquired Allitix, a consulting firm specializing in Anaplan solutions for financial planning, sales performance, and supply chain management. This acquisition strengthens Accenture’s integrated planning capabilities, enhancing its ability to help clients standardize planning practices and improve agility, productivity, and data-driven decision-making.
Veefin Group has acquired a 50% stake in Singapore’s GenAI startup Walnut in an all-cash deal, marking its fourth acquisition in 2024. Walnut’s GenAI capabilities will enhance Veefin’s ability to convert complex unstructured data into precise insights, benefiting corporates and banks with speed and accuracy.
Bandhan Group and Genisys Group
Bandhan Group has acquired Genisys Group, a global IT and business process services company, marking its strategic entry into the technology sector. This acquisition expands Bandhan’s global footprint, with new offices in the U.S., the UK, and India, strengthening its presence in these key markets.
AT&T and US Cellular Corp.
AT&T has acquired a portion of spectrum licenses from US Cellular Corp. for $1.02 billion. The deal includes assets used to transmit mobile phone signals and high-speed data services, aligning with US Cellular’s strategy to monetize its spectrum assets.
Vocus Group and TPG Telecom
With its shareholders, Macquarie Asset Management (MAM) and Aware Super, Vocus Group has announced the acquisition of TPG Telecom’s Enterprise, Government, and Wholesale (EG&W) fixed business and fiber network assets for $5.3 billion. This strategic acquisition positions Vocus as Australia’s leading digital infrastructure operator, leveraging an extensive integrated network of subsea, metropolitan, intercapital, and regional fiber with unparalleled scale and quality.
BCE has agreed to acquire Ziply Fiber, a U.S.-based fiber optic provider, for C$5.0 billion (U.S. $3.65 billion). The acquisition will expand BCE’s fiber footprint, strengthen its position in the U.S. market, and unlock growth opportunities through diversified operations and increased scale.
Bitsight and Cybersixgill
Bitsight has announced the acquisition of Israel-based threat intelligence provider Cybersixgill for $115 million. This strategic acquisition will enhance Bitsight’s ability to ...
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