Tech M&A Weekly Roundup

This week in Tech M&A, transactions stood out across vertical software, enterprise data infrastructure, payments, cybersecurity, AI infrastructure and technology-enabled services:

• AirPro Diagnostics merged with Revv, combining remote ADAS diagnostics and calibration with AI-powered repair workflow software.
• Vanguard agreed to acquire Altruist in a transaction reported at approximately $4bn, moving directly into the custody and technology infrastructure used by independent financial advisers.
• AWS signed a definitive agreement to acquire DuckLabs, adding the team behind DuckDB and related open-source analytical database technology to its data infrastructure stack.
• TCS agreed to acquire Porsche-owned MHP for €320m enterprise value, adding around 4,500 specialists across automotive technology, SAP, AI and manufacturing digitalisation.
• Nayax agreed to acquire IPS Group for $350m in cash, combining payments infrastructure with smart-parking hardware, software and curb-management technology.
• Accenture agreed to acquire SAP specialist McCoy, strengthening its European mid-market transformation and managed-services capabilities.
• Accenture also agreed to acquire COMWARE in Japan, adding SAP, CRM and core-system implementation expertise to its mid-market technology-services platform.
• NTT DATA agreed to acquire Netgain, creating a larger ServiceNow-focused consulting and managed-services platform in Sweden.
• Radiology Partners agreed to acquire Everlight Radiology, combining a global teleradiology network with AI-enabled diagnostic workflows.
• Trace3 agreed to acquire Calian Group’s US Commercial IT business in a transaction valued at approximately C$60m, adding cloud, cybersecurity and managed-services capabilities.
• Priority Commerce agreed to acquire IntelliPay, expanding its payments platform into government, education and healthcare billing workflows.
• DAZN agreed to acquire EverPass Media, adding US commercial sports distribution infrastructure across bars, restaurants and other venues.
• Orangekloud signed a definitive agreement to acquire Orbis Technology, operator of the VeVe digital-collectibles and licensed-IP platform.
• Mubadala Capital agreed to acquire a majority stake in Arrive Logistics, backing a technology-enabled freight brokerage built around proprietary data and automation.
• ePlus acquired Daymark Solutions, expanding its hybrid cloud, Microsoft, cybersecurity and managed-services capabilities.
• Basware signed an agreement to acquire Trustpair, adding supplier identity and bank-account verification to its accounts-payable platform.
• Integrity360 acquired CyberIAM, strengthening its identity and access-management capabilities across IAM, identity governance and privileged access.
• Navitas Semiconductor agreed to acquire Claros for up to approximately $233m, adding power-delivery technology designed for next-generation AI GPUs.
• Hexagon agreed to acquire Guidance Marine, expanding its positioning and sensing technology for autonomous maritime operations.
• Victory Capital agreed to acquire First Eagle Investments for approximately $7bn, creating a diversified asset manager with roughly $571bn of client assets.
• McKesson agreed to acquire Precision Medicine Group for approximately $2.25bn, expanding further into clinical research and biopharma commercialisation services.
• Boliden agreed to acquire a 64.68% controlling stake in Nexa Resources for approximately $1.31bn, materially expanding its zinc and base-metals footprint.
• Enbridge agreed to acquire Salt Creek Midstream’s crude gathering business for $600m, strengthening its Permian wellhead-to-export infrastructure.

What matters: the clearest theme this week was ownership of critical workflow and infrastructure layers. Buyers are moving deeper into the operating systems behind advisers, enterprise data, payments, identity security and AI infrastructure — while technology-services firms continue to acquire scarce implementation expertise around platforms such as SAP and ServiceNow.

For CEOs, founders and investors, the signal remains consistent: businesses that own embedded workflows, differentiated data or specialist technical capabilities continue to attract strategic interest.