2020 has been a pretty noisy year, that various IT mergers and acquisitions remain unnoticed. However, having a look at some of the biggest IT Mergers and Acquisitions of 2020 that we have given below will give you a better idea regarding how active the market of mergers has been.
Undoubtedly, for most of the businesses, 2020 was a difficult year due to economic hardships, lost business, and much more. And this was all because of the pandemic, for sure.
With all this,2020 has also seen the big tech companies took the opportunity to grow their business with major IT acquisitions and mergers.
Here Are The Biggest IT Mergers and Acquisitions of 2020 That You Must Know:
December 1: Salesforce to acquire Slack for $27.7B
Slack integration is becoming an increasingly popular feature for various SaaS apps in ticketing, conferencing, project management, calendaring, etc. Now salesforce has taken this integration a step forward. It has paid about $27.7B to change slack’s interface for its customers.
November 30: Facebook acquires Kustomer for $1B
Kustomer comes up with an amazing customer relationship management platform which is specialized in high support volume. However, the company was basically built to sell. As Facebook needs to get in touch with its customers across multiple platforms. So, it has acquired Kustomer for $1B to benefit its company in the best possible way.
November 10: Adobe to acquire Workfront for $1.5B
Workfront is a popular project management solution that was previously known as At Task as well. This Utah-based company has earned revenue of about $230 million in the year 2019. However, in 2020 it caught the eye of world-renowned adobe who announced its intention to acquire Workfront on November 10, 2020, for $1.5B.
July 6: Uber to acquire Postmates
Uber has also entered into a deal of $2.65 billion with Postmates. Postmates is a complimentary service to Uber Eats, with a focus on customers from different demographics. This is a Delivery as a Service pioneer, which is certainly going to help Uber in its growing delivery efforts.
June 30: Google acquires glasses maker North
After the failed effort of Google Glass, Google has now announced the acquisition of North on June 30, 2020, without disclosing the amount. North is a popular Canadian company that creates stylish Focals smart glass. The company is going to join the office of Google in Kitchener-Waterloo.
June 26: Amazon to acquire autonomous driving startup Zoox for £1.2 billion
Zoox is a company based in California that is working on autonomous technology for mobility as a service. Amazon has announced a deal with Zoox for about $1.2 billion.
June 23: Mastercard to acquire open banking firm Fincity
Fincity is providing a platform that is enabling financial institutions to connect data streams with an array of credit-decisions bodies and more. Fincity is basically, a Utah based company that is specialized in open banking. However, in June 2020, Mastercard has announced its acquisition for $825 million.
June 22: Microsoft acquires CyberX
CyberX is an IoT security specialist based in Israel. Microsoft has announced its acquisition for an undisclosed amount to incorporate CyberX talent and technology into the Cloud Azure unit that is already offering IoT Stack, IoT Security.
May 28: Cisco acquires Thousand Eyes
Cisco announced its acquisition with Thousand Eyes for an undisclosed amount. Thousand Eyes is a network intelligence specialist that used to sell cloud-based analytical tools for wide area and local networks and the internet.
May 15: Facebook buys Giphy
Facebook also announced the acquisition of Giphy for $400 million. Giphy is a well-known searchable library of movable images or you can say GIFs. The talent and resources of this company will be rolled for the social media giant’s Instagram division.
May 7: Zoom acquires end-to-end encryption specialist Keybase
Keybase is a security specialist in messaging. The most popular video conferencing tool Zoom has announced its acquisition on May 7, 2020. With the boost in the user base of Zoom, it is now finding new ways to make conversations of its customers more secure with end-to-end encryption. And this one of the leading software company mergers and acquisitions are the result of this.
May 4: Intel announced Israeli Startup Moovit acquisition
Moovit is a popular ride-hailing service that transit authorities via its well-known app. However, Intel has confirmed the acquisition of Moovit which was an Israeli startup before on May 4, 2020, for $1 billion. Even before this one of the required software company mergers and acquisitions, Intel was a strategic partner to Moovit.
April 8: Cisco acquires Fluidmesh
Fluidmesh is a popular wireless backhaul specialist who develops technology to ensure reliable connections between fast-moving objects and sensors. However, Cisco has announced the acquisition of Fluidmesh in April for an undisclosed amount. Cisco just hopes that this acquisition can turn into its favor and help it to boost the industrial IoT portfolio of Cisco.
April 8: Accenture buys Revolutionary Security
Revolutionary security is one of the popular companies which is mainly focused on cybersecurity consultancy services ranging from insider threat hunting and threat imagination to penetration testing. Accenture has announced the acquisition of this Philadelphia-based consultancy company on April 8, 2020.
February 25: Salesforce acquires Vlocity for $1.33 billion
Salesforce has also announced a deal of about $1.33 billion with Vlocity. Velocity is a leading provider of industry-specific mobile software and cloud solutions built on the Salesforce platform natively.
January 15: Apple acquires Xnor.ai
Apple has announced the acquisition of Xnor.ai which is a Seattle-based company on 15th January for about $200 million. Xnor.ai was a startup that spurns out of an Allen institute of AI (non-profit). It specializes in image recognition and machine learning algorithms that work on the device locally.
January 13: Visa acquired Plaid
Visa announced the acquisition of plaid for $5.3 million. Plaid is a solution helping people to share their bank accounts with multiple apps conveniently. Due to the increasing need for this connectivity, this IT acquisition will certainly open amazing market opportunities in Visa’s fintech space.
( Also Read: Digital Transformation Trends in 2021 )
So, these are the biggest IT mergers and acquisitions(1) that have taken place in 2020. Most of these IT acquisitions were unnoticed by people due to circumstances. However, knowing about these IT acquisitions here has definitely given you an effective overview of them.