Tech M&A Weekly Roundup

This week in Tech M&A, several transactions stood out across enterprise data, AI infrastructure, cybersecurity, tokenized market infrastructure, streaming technology, and a number of broader market-moving deals:

• SAP announced acquisitions of Dremio and Prior Labs, doubling down on AI-ready enterprise data infrastructure and structured-data AI models.
• Lattice Semiconductor entered a definitive agreement to acquire AMI, adding firmware and infrastructure manageability capabilities to build a more complete secure control platform for cloud and AI environments.
• IREN signed a definitive agreement to acquire Mirantis in an all-stock deal valued at around $625m, expanding beyond GPU capacity into cloud infrastructure, Kubernetes orchestration, and enterprise AI delivery.
• DAZN agreed to acquire ViewLift, strengthening its direct-to-consumer streaming and digital services capabilities for sports leagues and teams in the US.
• Bullish announced it will acquire Equiniti from Siris in a $4.2bn transaction, combining traditional transfer agency infrastructure with ambitions around tokenized securities.
• Version 1 signed a definitive agreement to acquire CreateFuture, building greater scale in AI-led digital transformation services across regulated industries.
• Cisco announced its intent to acquire Astrix Security, targeting one of the fastest-growing cybersecurity priorities: non-human identities, machine credentials, and AI agent security.
• Palo Alto Networks was reported to be acquiring Portkey, a move that would add governance, routing, safety controls, and infrastructure security for AI applications and agents.
• American Express Global Business Travel agreed to go private in a $6.3bn all-cash deal, one of the week’s more notable sponsor-backed take-private transactions.
• Regis Resources and Vault Minerals agreed to merge in a deal creating an Australian gold producer valued at roughly $7.7bn.
• GameStop made an unsolicited $55.5bn takeover offer for eBay, one of the week’s biggest headline situations even if highly uncertain.

What matters: buyers continue to prioritise assets that improve control over data, infrastructure, and mission-critical workflows. This week’s activity also made one theme especially clear: AI infrastructure and AI security are quickly becoming some of the most active strategic battlegrounds in the market.

For CEOs, founders, and investors, that reinforces the value of building businesses with clear platform relevance, strong infrastructure importance, and defensible strategic fit.