Take-privates returned to the tape in force, AI ran through nearly every strategic deal, and sponsors stayed selective — paying up only for predictable, recurring revenue.
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The Week at a Glance
|
45
Transactions
|
29
Software deals
|
16
IT & outsourced services deals
|
$7.9B+
Disclosed value
|
9
Deals with a sponsor involved
|
- Take-privates led the week. Thoma Bravo bought insurance-software maker Accelerant for $4.0B, and Brookfield and Elliott took DoubleVerify private for $2.2B (via Nielsen) — both recurring-revenue software.
- Nine of the 45 deals carried a PE backer. Beyond the two buyouts, sponsors kept adding to platforms: ParkerGale, Levine Leichtman, GTCR, Arkview and Cambria, and PSG with M33 Growth.
- AI was the through-line on the strategic side. Klaviyo/Agency, Metaview/Reval, OpenAI/NextSlide, and Dynatrace’s $915M pickup of Arize for AI observability.
- The rest was undisclosed tuck-ins across vertical software and IT services. Two weekly reads flagged that PE stays picky on carve-outs and Big Tech is building AI rather than buying.
Software Transactions
| Target | What it does | Acquirer | PE Sponsor | Value |
|---|---|---|---|---|
| Agency | Customer service automation software | Klaviyo | — | Undisc. |
| DoubleVerify | Digital media measurement & analytics software | Nielsen | Brookfield / Elliott | $2.2B |
| Comperemedia | Marketing intelligence software | OpenBrand | ParkerGale | Undisc. |
| Aselo | Contact center & crisis intervention software | Crisis Text Line | — | Undisc. |
| That’s The One | Wedding & event planning software | Helium Ventures | Direct | Undisc. |
| Visual Shop & Bluestreak | Job shop ERP software | Steelhead Technologies | — | Undisc. |
| PingCx | Building commissioning software | Facility Grid | — | Undisc. |
| Global Ledger | Multi-currency banking software | OpenFX | — | Undisc. |
| Thorndyke | DOOH ad verification software | StreetIQ | — | Undisc. |
| Reval | AI recruiting software | Metaview | — | Undisc. |
| Valos | Real estate valuation software | Altus Group | — | $16M |
| FortressFire | Wildfire risk & property protection software | FM | — | Undisc. |
| Rubbles | Data analysis software | IBS Group | — | Undisc. |
| EveryData Group | Data analytics & identity verification software | Creditinfo Group | Levine Leichtman | Undisc. |
| IGLeads | Lead generation & sales prospecting software | BrandJet AI | — | Undisc. |
| NextSlide | AI presentation creation software | OpenAI | — | Undisc. |
| Monograph | Project & practice management software | Total Synergy | PSG / M33 Growth | Undisc. |
| inscribe (Pixi assets) | Business process automation software | zvoove | — | Undisc. |
| OP Solutions (video assets) | Video coding / compression software | Dolby Laboratories | — | Undisc. |
| Chpter | Conversational commerce software | Cloud9 | — | Undisc. |
| FLAGS Software | Manufacturing production control software | Recur Software | — | Undisc. |
| Arize AI | AI observability & model evaluation software | Dynatrace | — | $915M |
| Space-Eyes | Geospatial intelligence software | McKinley Acquisition (SPAC) | — | $275M |
| omni:us | Insurance claims automation software | adesso | — | Undisc. |
| Accelerant | Insurance risk exchange software | Thoma Bravo | Direct | $4.0B |
| Cemplicity | Healthcare experience management software | Radar Healthcare | Marlin Equity | Undisc. |
| Rivanna AI | Diligence & deal management software | Rogo | — | Undisc. |
| Digital Benchers | Online learning software | Infonative Solutions | — | Undisc. |
| iFoodDS (Quality Insights) | Food traceability software | Foods Connected (Hilton) | — | Undisc. |
IT & Outsourced Services
| Target | What it does | Acquirer | PE Sponsor | Value |
|---|---|---|---|---|
| Neural Digital | SEO marketing agency | BCM Group | — | Undisc. |
| Virtex | Electronic manufacturing services | NEOTech | Arkview / Cambria | Undisc. |
| AI Tech Cloud | AI software development | VETECE | — | Undisc. |
| Network Solutions | IT infrastructure & managed services | Pinnacle Technology Solutions | — | Undisc. |
| BD Emerson | IT services | Andersen Group | — | Undisc. |
| Astralis | Salesforce-partnered systems integration | Lane Four | — | Undisc. |
| StarOps | Spacecraft systems engineering | GalaxEye | — | Undisc. |
| Healthcare IT Leaders | Healthcare IT consulting & staffing | Kyndryl | — | Undisc. |
| Scarsdale Security Systems | Security systems integration | Everon | GTCR | Undisc. |
| Resonant Sciences | Defense mission systems manufacturing | Joby Aviation | — | $500M |
| e-verse | Custom software development services | ENG | — | Undisc. |
| SPR Consulting | Software development & cloud consulting | Andersen Group | — | Undisc. |
| Think | Software development & IT services | Asahi Intelligence Service | — | Undisc. |
| Meridian Integration | Oracle-partnered systems integration | DivDat | — | Undisc. |
| SimoTech | Manufacturing automation & IT engineering | Project Farma (Perkinelmer) | — | Undisc. |
| Urban Emu | Digital marketing & comms services | DCG | — | Undisc. |
What Stood Out
1. Take-privates came back to the tape
Thoma Bravo took Accelerant private for $4.0B, and Brookfield with Elliott took DoubleVerify private for $2.2B (via Nielsen) — both clean recurring-revenue software assets.
2. PE stayed picky on carve-outs
Francisco Partners’ $1.4B Moneris carve-out was framed in the week’s commentary as an outlier, not a thaw. Sponsors are paying up only for predictable, recurring revenue.
3. AI drove the strategic deals
Klaviyo/Agency, Metaview/Reval, OpenAI/NextSlide and Dynatrace’s $915M Arize buy for AI observability. Even so, the largest AI providers are mostly building rather than buying.
4. Platforms kept tucking in
ParkerGale, Levine Leichtman, GTCR, Arkview and M33 Growth with PSG all added bolt-ons across vertical software and IT services.
Wondering how any of this touches your business specifically? That’s a conversation, not a blog post.
Source: S&P 451, CapIQ. Prepared by Tequity Advisors — Confidential.