Tech M&A Weekly Roundup

June 25, 2026

This week in Tech M&A, several transactions stood out across AI software infrastructure, agentic enterprise workflows, cybersecurity, tech-enabled services, and a few broader market-moving deals:

  • Qualcomm agreed to acquire Modular in a stock deal valued at roughly $3.9B–$4.0B, adding a chip-agnostic AI software layer to strengthen its position across edge, cloud, and data-center inference.
  • EXL agreed to acquire iMerit for up to $310M, expanding deeper into AI model training, evaluation, and RLHF services.
  • MoEngage acquired Aampe, bringing 1:1 agentic decisioning into its customer engagement platform as B2C SaaS vendors race to embed autonomous personalization.
  • Veeva acquired Copli and launched it as Veeva Falcon MLR, adding agentic automation to a compliance-heavy life sciences review workflow.
  • Backbase acquired Kasisto, strengthening its Banking OS with agentic AI capabilities built for financial services workflows and customer interactions.
  • TrueFoundry acquired Seldon AI, consolidating more of the enterprise AI infrastructure and deployment stack as companies standardize how they govern and operate models in production.
  • Syndio acquired Embrace.ai, bringing agentic automation into pay decisioning and workforce analytics.
  • Riviera Partners acquired Lateral Labs, adding AI-native recruiting and talent search capability to its executive search platform.
  • F5 acquired SurePath AI and launched its AI Security Platform, targeting one of the fastest-growing control points in enterprise software: visibility, governance, and protection for AI usage.
  • ROC agreed to acquire Zuccaro Technical Consulting, adding digital forensics and investigative software expertise to its evidence and Vision AI platform.
  • Outside software, Merck KGaA agreed to acquire Bio-Techne for about $11.3B–$11.4B, one of the week’s largest strategic deals in life sciences infrastructure.
  • AbbVie agreed to acquire Apogee Therapeutics for about $10.9B in cash, continuing the trend of large pharma buyers paying for differentiated immunology assets.
  • Volkswagen agreed to sell a 51% stake in Everllence to Bain Capital for around €7.4B, a notable large-cap industrial carve-out.
  • Prologis also made a proposed all-share approach for Segro, though the offer was rejected, highlighting continued appetite for logistics and data-center-adjacent infrastructure assets.

What matters: buyers continue to prioritize assets that deepen control over AI infrastructure, automate high-value workflows, and strengthen software layers around critical enterprise processes. Across SaaS, cyber, services, and adjacent sectors, the pattern is clear: strategic value is concentrating around platforms that can own more of the operating stack.

For CEOs, founders, and investors, that reinforces the importance of building businesses with strong workflow relevance, defensible positioning, and a clear role inside a larger strategic roadmap.