The global M&A landscape remains robust, with companies across various industries making strategic moves. From pharmaceuticals and energy to AI and enterprise software, acquisitions are reshaping competitive dynamics and signaling investor confidence in high-growth sectors. Below are the top five m&A deals announced in the week ending September 21, 2025. The data is curated from the Intellizence mergers & acquisitions Dataset.
Acquiring Company – Roche
Acquired Company – 89Bio
Merger Amount – $3.5 Billion
Pharma giant Roche plans to acquire 89bio, a clinical-stage biopharmaceutical company, in a deal valued at $3.5 billion. The acquisition strengthens Roche’s pipeline in liver and metabolic diseases, with 89bio’s innovative therapies positioned to address unmet needs. This move further cements Roche’s focus on expanding in specialty treatments and biopharma innovation.
Acquiring Company – Rithm Capital
Acquired Company – Paramount Group
Deal Amount – $1.6 Billion
Global asset manager Rithm Capital is acquiring Paramount Group, an office portfolio owner, in a $1.6 billion all-cash deal. The acquisition marks a strategic bet on the rebound of office real estate, as Rithm looks to diversify and grow its assets under management. Paramount’s high-quality office properties in prime locations are expected to provide strong long-term value.
Acquiring Company – CPS Energy
Acquired Company – PROENERGY
Deal Amount – $1.38 Billion
CPS Energy, the largest municipally owned energy utility in the U.S., will acquire four natural gas power generation facilities from PROENERGY for $1.38 billion. The deal enhances CPS Energy’s capacity to meet growing power demand while ensuring reliability and affordability for its customers. This acquisition reflects the utility’s focus on balancing sustainable energy with traditional generation.
Acquiring Company – Workday
Acquired Company – Sana
Deal Amount – $1.1 Billion
Enterprise cloud software company Workday announced it will acquire Sana, a fast-growing AI company, for $1.1 billion. The move underscores Workday’s commitment to integrating advanced AI into its HR and financial software platforms. Sana’s expertise in generative AI and knowledge management will help accelerate innovation and deliver smarter solutions for enterprise customers.
Acquiring Company – Atlassian
Acquired Company – DX
Deal Amount – $1 Billion
Collaboration software leader Atlassian has struck a $1 billion deal to acquire DX, a rising player in developer experience solutions. This acquisition will expand Atlassian’s capabilities in developer productivity and team collaboration. By bringing DX’s tools into its ecosystem, Atlassian aims to strengthen its position as the go-to platform for modern software development teams.
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