Update: Technology and Software M&A Update – February, 2026

February, 2026

For 2025, the median transaction value in Technology and Software was $58 million. For 2025, strategic buyers accounted for 92% of transactions.

 

Select recent notable publicly announced M&A transactions:

– ServiceNow announced its acquisition of Armis for $7.8 billion in December 2025.

– Marvell Technology announced its acquisition of Celestial AI for $6.0 billion in December 2025.

– Warburg Pincus; JMI Management announced its acquisition of Raptor Technologies for $1.8 billion in November 2025.

– Palo Alto Networks announced its acquisition of Chronosphere for $3.4 billion in November 2025.

– Ripple Labs closed its acquisition of G Treasury for $1.0 billion in October 2025.

 

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