Mergers & Acquisitions

Why HTEC Is Buying SYRMIA

By Noah Long ● Feb 13, 2024

HTEC (an end-to-end digital product development and engineering services company) based in San Francisco announced the acquisition of SYRMIA (an embedded software engineering company based in Belgrade, Serbia). This deal is part of HTEC’s overall strategy to further enhance its capabilities in AI, machine learning, and embedded technologies, creating additional value for clients and providing growth opportunities for the talent of both companies.

Why Diamondback Energy Is Buying Endeavor Energy For About $26 Billion

By Amit Chowdhry ● Feb 12, 2024

Diamondback Energy and Endeavor Energy Resources announced that they have entered into a definitive merger agreement under which Diamondback and Endeavor will merge in a transaction valued at about $26 billion, including Endeavor’s net debt. This combination will create a premier Permian independent operator.

ContextLogic To Sell Operating Assets And Liabilities Associated With Wish To Qoo10 For $173 Million

By Dan Anderson ● Feb 12, 2024

ContextLogic (d/b/a Wish) announced that its Board of Directors unanimously approved an agreement to sell substantially all of its operating assets and liabilities, principally comprising its Wish e-commerce platform to Qoo10 ( an ecommerce platform operating localized online marketplaces in Asia) for approximately $173 million in cash, subject to certain purchase price adjustments. The purchase price represents about $6.50 per share and an approximately 44% premium to ContextLogic’s closing stock price on February 9, 2024, the last trading day prior to announcing the transaction.

Why Gilead Sciences Is Buying CymaBay Therapeutics For $4.3 Billion

By Annie Baker ● Feb 12, 2024

Gilead Sciences and CymaBay Therapeutics announced a definitive agreement under which Gilead will acquire CymaBay for $32.50 per share in cash or a total equity value of $4.3 billion. Adding CymaBay’s investigational lead product candidate seladelpar for treating primary biliary cholangitis (PBC), including pruritus, complements Gilead’s existing liver portfolio and aligns with its long-standing commitment to bringing transformational medicines to patients.

Why Bounteous And Accolite Are Merging

By Amit Chowdhry ● Feb 10, 2024

Bounteous (a digital innovation partner of the world's most ambitious brands) and Accolite Digital (a leading digital engineering, cloud, data & AI services provider) announced a merger, creating a new end-to-end digital transformation services consultancy that partners with leading brands around the globe to co-innovate and drive exceptional client outcomes.

Why Barclays Is Buying Tesco’s Retail Banking Business

By Amit Chowdhry ● Feb 9, 2024

Barclays announced that Barclays Bank UK PLC entered into an agreement to acquire the retail banking business of Tesco and enter into an exclusive long-term partnership to offer Tesco branded credit cards, personal loans and deposits. Tesco’s retail banking customer base is broadly similar to Barclays UK’s existing customers and will complement the current business, as well as build on the existing UK strategic partnerships with other leading retail, consumer electronics and loyalty program brands.

Beamer And Userflow Merge To Create A Product Team Growth Toolkit Giant

By Annie Baker ● Feb 9, 2024

As part of a strategic move that marks a significant milestone in the product management landscape, Beamer has announced a merger with Userflow. This partnership reinforces the companies' positions as leading providers of no-code product adoption and engagement platforms and expands their combined capabilities by offering a consolidated toolkit for leading product-led growth (PLG) teams worldwide. The combined company plans to be a major player in the Digital Adoption Platform space.

Carlyle To Sell Jagex To CVC And Haveli

By Amit Chowdhry ● Feb 9, 2024

Global investment firm Carlyle and CVC (a leading global private markets manager) announced that CVC Capital Partners Fund VIII and Haveli Investments have agreed on the acquisition of Jagex, a leading developer and publisher of video games.

Why Premier Radiology Services Is Buying NationalRad

By Annie Baker ● Feb 9, 2024

Premier Radiology Services announced the acquisition of Specialists in Diagnostic Imaging, a leading provider of subspecialty teleradiology services. The financial terms of the transaction were not disclosed.

Owens Corning Buying Masonite For $3.9 Billion: Details

By Amit Chowdhry ● Feb 9, 2024

Owens Corning (a leader in global building and construction materials) and Masonite International (a leading global provider of interior and exterior doors and door systems) announced they have entered into a definitive agreement under which Owens Corning will acquire all outstanding shares of Masonite for $133 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on February 8, 2024 and an approximate 46% premium to Masonite’s 20-day volume-weighted average price.

Why Virtusa Is Buying BRIGHT

By Annie Baker ● Feb 9, 2024

Virtusa (a global provider of digital strategy, digital engineering, and IT services) announced an expansion to its business solutions portfolio through the acquisition of BRIGHT, one of the largest elite partners to ServiceNow and Splunk in EMEA. This deal will enable Virtusa to deliver business solutions to its existing customer base and expand its European presence.

Why Gryphon Investors Is Selling HEPACO To Clean Harbors For $400 Million

By Amit Chowdhry ● Feb 8, 2024

Gryphon Investors (a leading middle-market private equity firm) announced that it has signed an agreement to sell HEPACO, LLC to Clean Harbors (a leading provider of environmental and industrial services) in a deal valued at $400 million. The transaction is subject to customary closing conditions.

Why AArete Is Buying Technology Consulting Firm Legerity

By Annie Baker ● Feb 8, 2024

AArete (a leading global management and technology consulting firm) announced that it has acquired Legerity (a technology consulting firm based in Norfolk, Virginia). This strategic acquisition will expand AArete’s technology solutions and capabilities for its clients in healthcare, financial services, and the public sector.

Why Aurora Cannabis Is Buying MedReleaf Australia USA

By Dan Anderson ● Feb 8, 2024

Aurora Cannabis - a Canada-based leading global medical cannabis company - announced that a wholly-owned subsidiary of the company acquired the remaining approximately 90% equity interest of Indica Industries Pty Ltd that Aurora did not previously own, at an enterprise value of AUD$50 million, subject to customary adjustments. Aurora paid AUD$9.45 million in cash with the balance of the purchase price satisfied by the issuance of common shares of Aurora.

Why Radiant Logistics Is Buying Select Logistics And Select Cartage

By Dan Anderson ● Feb 8, 2024

Radiant Logistics (a leading provider of technology-enabled global transportation and value-added logistics solutions) announced it has acquired Select Logistics and Select Cartage, both Doral, Florida-based, privately held companies that have operated as part of its Adcom Worldwide brand since 2007.

The Parking Spot Acquiring Park ’N Fly: Details

By Dan Anderson ● Feb 7, 2024

The Parking Spot (TPS) - a leading owner and operator of near-airport parking properties - announced the acquisition of Park ’N Fly (PNF), a near-airport parking sector owner/operator with 13 owned, leased, and managed facilities.

Why MSCI Is Buying Foxberry

By Annie Baker ● Feb 7, 2024

MSCI (a leading provider of mission-critical decision support tools and services for the global investment community) announced it has signed a purchase agreement to acquire Foxberry, a London-based provider of front-office index technology for investors. Foxberry was founded in 2014 with the goal of building and delivering investment solutions that are driven by technology, account for a specific set of criteria, and increase the value-add for end-users.

Gaming And Leisure Properties Buys Real Estate Assets Of Tioga Downs Casino Resort For $175 Million

By Annie Baker ● Feb 7, 2024

Gaming and Leisure Properties announced that it acquired the real estate assets of Tioga Downs Casino Resort in Nichols, NY from American Racing & Entertainment for $175 million. Simultaneous with the deal, GLPI and American Racing entered into a triple-net master lease agreement for an initial 30-year term.

Security Compass Buys Kontra From ThriveDX: Details

By Dan Anderson ● Feb 7, 2024

Security Compass has announced the acquisition of application security training software provider Kontra from ThriveDX, the global leader in cyber training and talent development. And this acquisition marks a pivotal step forward in Security Compass’s ongoing mission to empower businesses with application security solutions centered on a Security by Design approach.

CSW Industrials Deploys Over $30 Million To Execute Acquisition Strategy

By Noah Long ● Feb 7, 2024

CSW Industrials announced the strategic deployment of $30.3 million, excluding future earn-outs, upon completing the acquisitions of Dust Free, LP, Guardian Drain Lock, and Sure Grade Drain.

California Resources Buying Aera In A $2.1 Billion Deal: Details

By Noah Long ● Feb 7, 2024

California Resources (CRC) announced today it would buy Aera Energy in a deal valuing the company at $2.1 billion. This deal would enable the combined companies to double their production.

Aztec Software Acquires Financial Fitness Group: Details

By Annie Baker ● Feb 7, 2024

Aztec Software (an educational software company focused on helping adults make generational change through academic upskilling, workforce, and job-specific certification preparation, and wealth management and financial literacy programming) announced that it has acquired Financial Fitness Group (FFG), a provider of industry-leading interactive financial wellness solutions.

Why Lockmasters Is Buying JLM Wholesale

By Annie Baker ● Feb 7, 2024

Lockmasters (a portfolio company of Dominus Capital, L.P.) announced it acquired JLM Wholesale. JLM is a leading specialty wholesale distributor of commercial door hardware and security solutions.

Immunome To Buy AL102 From Ayala Pharmaceuticals, A Phase 3 Asset For Treating Desmoid Tumors

By Noah Long ● Feb 7, 2024

Immunome - a biotechnology company dedicated to developing first-in-class and best-in-class targeted cancer therapies - announced that it entered into a definitive asset purchase agreement with Ayala Pharmaceuticals (a clinical-stage oncology company) to acquire AL102 and related drug candidate AL101 from Ayala.

Why Lakeland Industries Is Buying Jolly Scarpe Footwear

By Annie Baker ● Feb 7, 2024

Lakeland Industries (a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels) announced the acquisition of Italy and Romania-based Jolly Scarpe S.p.A. and Jolly Scarpe Romania S.R.L. in an all-cash transaction valued at approximately $9.3 million subject to post-closing adjustments and customary holdback provisions.

Braemont Capital Buying Loenbro From Tailwind: Details

By Dan Anderson ● Feb 7, 2024

Braemont Capital (a relationship-driven investment firm that partners with exceptional companies at growth inflection points) announced that it had acquired Loenbro (a provider of highly technical and specialized services to the data center, infrastructure, and diversified industrial markets) from Tailwind Capital. The financial terms were not disclosed.

Why Novartis Is Buying MorphoSys For $2.9 Billion

By Annie Baker ● Feb 7, 2024

Novartis announced this week that it has agreed to make a voluntary public takeover offer to acquire MorphoSys AG, a Germany-based, global biopharmaceutical company developing innovative medicines in oncology.

Why Somafina Is Buying UST Corporation

By Annie Baker ● Feb 6, 2024

Heartwood Partners announced that its portfolio company Somafina has acquired UST Corporation, a contract manufacturer of vitamins, minerals, and supplements based in Layton, Utah. UST provides an end-to-end solution for its customers, ranging from formulation and product development to production and packaging.

Why DaySmart Is Buying Time To Pet

By Amit Chowdhry ● Feb 6, 2024

DaySmart Software (a leading provider of vertically focused business management software) announced the acquisition of Time To Pet (a leading provider of pet care software). This acquisition brings pet sitting and dog walking capabilities to existing DaySmart Pet customers and augments the company’s pet grooming and daycare offerings.

Why DNOW Is Buying Whitco Supply

By Annie Baker ● Feb 6, 2024

DNOW has agreed to acquire Whitco Supply, LLC in an all-cash transaction, subject to regulatory approvals and other customary closing conditions.