Tech M&A Weekly Roundup

September 28, 2026

Last week in Tech M&A, transactions stood out across fintech infrastructure, vertical SaaS, industrial technology, Physical AI and tech-enabled services:

  • An investor group led by Priority Technology Holdings CEO Thomas Priore and Searchlight Capital agreed to take Priority private at approximately $1.6bn enterprise value, backing a payments and banking infrastructure platform spanning collecting, storing, lending and moving money.
  • Schneider Electric agreed to acquire Shelly Group for approximately €1.2bn, combining connected devices with software-led home energy management and automation.
  • Hg agreed to acquire a majority stake in ENTERSOFTONE at an approximately €1bn valuation, adding a scaled European ERP, accounting, payroll and business-management software platform serving more than 90,000 customers.
  • H.I.G. Capital agreed to take MISTRAS Group private for approximately $866m enterprise value, backing a technology-enabled asset-integrity and industrial inspection platform.
  • MoonPay agreed to acquire North Capital, moving beyond crypto payments into regulated brokerage, clearing, custody, transfer-agent and secondary-trading infrastructure for private and tokenized assets.
  • FortuneX Acquisition Corp. agreed to combine with WT Realty Group at an implied equity value of approximately $600m, bringing brokerage, escrow, mortgage, title and technology-enabled real-estate workflows under one platform.
  • Willdan agreed to acquire Mantis Innovation for $285m in cash, expanding deeper into building controls, energy management and facility technology, with additional exposure to data-center customers.
  • Adlib agreed to acquire Paperbox, combining governed document data with agentic AI for insurance intake and workflow automation.
  • Cognex agreed to acquire RealSense for $500m in cash, adding 3D computer vision and robotic perception technology to its industrial automation platform.
  • Qualcomm agreed to acquire PickNik, moving further up the robotics stack by adding motion-planning and manipulation software used across autonomous systems.
  • Rocket One signed a definitive agreement to acquire Tracer Drone Technologies, combining drone hardware, software and recurring managed services across public-safety and defense markets.
  • Royal Caribbean agreed to acquire a 50% stake in Sandals and Beaches Resorts for approximately $3bn, implying a roughly $6bn valuation and marking a major expansion from cruise holidays into land-based resorts.
  • Telix Pharmaceuticals agreed to merge with ITM Isotope Technologies Munich for $1.65bn upfront plus up to $700m of contingent consideration, adding radioisotope manufacturing, distribution and late-stage therapeutic assets.

What matters: buyers are increasingly looking to control more of the infrastructure underneath their core markets. In payments, energy, robotics and radiopharmaceuticals, that means owning technology, data, distribution and critical supply layers rather than relying on third parties.

At the same time, ENTERSOFTONE, MISTRAS and Paperbox show that traditional vertical software and tech-enabled services remain attractive where workflows are mission-critical, regulated and difficult to replace.

For CEOs, founders and investors, the signal remains consistent: strategic value is concentrating around businesses with embedded workflows, differentiated technology and control over an important part of the customer or industry stack.