Intellizence highlights the Merger & Acquisition Deals trends for March 2022 in the most active sectors – technology, healthcare, banking & financial services, energy, and manufacturing.
Largest M&A Deals in March 2022
The top ten largest merger and acquisition deals across sectors were:
Acquiring Company Acquired Company Deal
Thoma Bravo Anaplan $10.7 Billion
Berkshire Hathaway Alleghany Corp. $11.6 Billion
Google Mandiant $5.4 Billion
Clearlake Capital Group Intertape Polymer Group $2.6 Billion
KKR Mitsubishi Corp-UBS Realty $2 Billion
General Motors (Ownership Stake) Cruise $2 Billion
Royal Bank of Canada Brewin Dolphin Holdings PLC $2.6 Billion
Pentair Manitowoc Ice $1.6 Billion
Brookfield Business Partners La Trobe Financial $1.5 Billion
Partners Group Forterro ( from Battery Ventures) €1 Billion
Major Sector-wise Merger and Acquisition Deals:
Banking, Private Equity & Financial Services
- KPMG buys Brisbane’s enterprise software integration and automation specialist, Rubicon Red.
- DigitalBridge to acquire the mobile telecommunications tower business of Telenet Group for $820 million.
- Cain International, the privately held investment firm operating in the United States and Europe, has acquired a portfolio of UK logistics assets of privately-owned real estate investor and developer, Firethorn Trust, for £550 million.
- JP Morgan to buy share plan management software provider company Global Shares.
- Goldman Sachs to acquire automated corporate retirement planning adviser NextCapital Group.
- Fujifilm Irvine Scientific, a developer of serum-free and chemically defined cell culture media has acquired Shenandoah Biotechnology, a manufacturer of recombinant proteins.
- Health Management Associates has acquired Cirdan Health Systems and Consulting.
- Tate & Lyle has acquired China’s Quantum Hi-Tech (Guangdong) Biological Co., a prebiotic dietary fiber business, for $237million.
- Next-day delivery platform Veho has acquired QuikReturn, accelerating doorstep returns expansion.
- Amazon aggregator Society Brands has acquired brand management agency OmniiX to accelerate the rapid growth of acquired companies.
- Curefoods has acquired a majority stake in milkshake brand Frozen Bottle.
- GrubMarket expands further into Arizona and Texas through the acquisition of SunFed, a company that produces and distributes high-quality squashes, fruits, and vegetables.
- Vermilion Energy has acquired Leucrotta Exploration for $477 million.
- Targa Resources Corp., the provider of midstream services has acquired Southcross Energy Operating LLC and its subsidiaries in South Texas for $200 million.
- ALLETE advances its solar strategy by acquiring New Energy Equity, a solar development company.
- Chevron Corporation has acquired the outstanding shares of REG in a transaction valued at $3.15 billion.
- Datacenter company Equinix is continuing its global expansion with the acquisition of four data centers from Entel in a move that will expand the company’s reach into Chile and Peru.
- Intel to pay $650 million for Israeli cloud startup Granulate.
- Shift4 has acquired Israeli fintech startup Finaro for $575 million.
- Accenture has acquired Alfa Consulting, to expand supply chain capabilities in capital-intensive industries.
- Alphawave IP Group, a leader in high-speed connectivity for the world’s technology infrastructure has acquired the entire OpenFive business unit from SiFive Inc., the founder of RISC-V computing.
Top Five SPAC Mergers Deals in March 2022
SPACs have become more mainstream on wall street today. So far, several companies have gone public either through an IPO, direct listing, or SPAC in 2022.
- Apexigen and Brookline Capital Acquisition Corp. have entered a business combination agreement to create a publicly-listed immuno-oncology company.
- Perfect Corp., a Leading AR and AI SaaS solution provider in the beauty and fashion industries, to list on Nasdaq by merging with Provident Acquisition Corp.
- Coincheck, one of the largest multi-cryptocurrency marketplaces and digital asset exchanges in Japan has entered a merger agreement with Thunder Bridge Capital Partners IV, to become a publicly listed holding company, domiciled in the Netherlands.
- SatixFy, a next-generation satellite communication system, is to go public via combination with SPAC Endurance Acquisition Corp.
- Ligand to spin off its omniab business through a merger with Avista Public Acquisition Corp. II.
- Xfuels has decided to terminate the acquisition of Jubilee Exploration, after being unable to verify certain property title records related to both operating and non-operating wells.
- FinAccel, the leading AI-enabled digital consumer credit platform in Southeast Asia, and VPC Impact Acquisition Holdings II, a publicly-traded SPAC have mutually terminated their business combination agreement.
- Gett, the corporate ground transportation management (GTM) technology platform, and Rosecliff Acquisition Corp, a SPAC, have terminated the business combination agreement.
Major M&A Deals that got Regulatory Approval
- The European Commission (EC) has approved unconditionally, under the EU Merger Regulation, the proposed acquisition of MGM by Amazon.
- Verso Corporation has received necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB.
- Citizens Financial Group has received regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the acquisition of Investors Bancorp.
- Guaranty Federal Bancshares, has received regulatory approvals to complete its merger with QCR Holdings.