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So far, 2024 has been an exciting year for tech mergers and acquisitions. Many M&A deals, from Cisco to Alteryx, have made the news as companies make bold moves to stay ahead of the competition.
These technology mergers and acquisitions are changing the industry and opening up new opportunities for growth and innovation in the tech world.
In this article, we’ll go into the top M&A deals of the year and explore how they’re shaping the future of tech. We also provide a list of the biggest tech mergers that happened since 2000.
Key Takeaways
- Cisco’s $28 billion acquisition of Splunk is the biggest tech deal of the year.
- In 2024, the focus in M&A deals has been on AI-driven acquisitions and strengthening cloud and cybersecurity capabilities.
- Tech mergers and acquisitions bring together AI, cloud, and cybersecurity technologies, helping companies grow and stay competitive.
- Not all merger deals are successful. The 2001 HP-Compaq merger is often considered the worst M&A deal ever since HP lost half of its market value as a result.
- The $182 billion merger between AOL and Time Warner is the largest tech deal ever (from the 2000s onwards), but it’s also famous for its failure.
5 Biggest Tech Mergers & Acquisitions in 2024
In 2024, several huge tech mergers and acquisitions have shaken the tech market, leading to exciting new opportunities and challenges for the deals’ participants.
Here’s a quick look at the top five tech company acquisitions, along with the companies involved, the amounts spent, and the industries they’ve impacted.
| Companies | Amount | Date | Industry |
|---|---|---|---|
| Cisco & Splunk | $28 Billion | February 2024 | Software and AI |
| HPE & Juniper Networks | $14 Billion | May 2024 | Networking and AI |
| IBM & HashiCorp | $6.4 Billion | April 2024 | Hybrid cloud |
| Thoma Bravo & Darktrace | $5.3 Billion | October 2024 | Cybersecurity |
| Clearlake Capital, Insight Partners & Alteryx | $4.4 Billion | December 2024 | Data analytics |
1. Cisco’s $28 Billion Splunk Acquisition: The Biggest Tech M&A Deal in 2024
In February 2024, Cisco completed its $28 billion acquisition of Splunk, the largest deal in the company’s history.
This move means that Cisco is combining its expertise in networking with Splunk’s cybersecurity and analytics tools. Together, they plan to make complex technology simpler and offer businesses a smarter, more connected way to manage their digital environments.
This acquisition demonstrates one of the key reasons for mergers and acquisitions today: combining strengths to improve business capabilities.
2. HPE Acquires Juniper Networks for $14 Billion
In May 2024, Hewlett Packard Enterprise (HPE) announced its $14 billion acquisition of Juniper Networks, marking an important moment in the networking industry.
In recent years, one major reason for mergers and acquisitions has been to bring AI and cloud technologies into existing products. Juniper, known for its high-performance network devices and AI-driven technologies, will enhance HPE’s edge-to-cloud strategy.
By combining their resources, the two companies plan to provide businesses with more secure, efficient, and innovative tools for managing data quickly and reliably.
3. IBM Acquires HashiCorp for $6.4 Billion
In April 2024, IBM made a strategic move by acquiring HashiCorp for $6.4 billion. The company aimed to expand its cloud-based software offerings in response to the growing demand for AI-powered solutions.
This deal emphasizes IBM’s focus on hybrid cloud and automation as key growth areas. By offering a 42.6% premium on HashiCorp’s stock, IBM strengthens its position in cloud infrastructure management, enabling it to provide clients with smarter, more efficient solutions.
4. Thoma Bravo Acquires Darktrace for $5.3 Billion
In October 2024, Thoma Bravo completed its $5.3 billion acquisition of Darktrace, a leading British cybersecurity company. This made Darktrace a private firm and removed it from the London Stock Exchange. Thoma Bravo’s tech company acquisition of Darktrace shows the increasing focus on cybersecurity tools powered by AI.
The deal followed months of challenges, including changes in leadership and the sad passing of early investor Mike Lynch.
5. Alteryx Goes Private with Clearlake Capital & Insight Partners for $4.4 Billion
In December 2024, Clearlake Capital and Insight Partners finalized their $4.4 billion acquisition of Alteryx, taking the company private.
This move gives Alteryx the freedom to focus on innovation without the pressure of public shareholders.
Alteryx is well-known for its powerful data analysis tools, and with this new partnership, it’s in a great position to improve and develop even better products.
Top 10 Largest Tech M&As in History
The examples of mergers and acquisitions below show the wide span of tech sectors, from communications to software and hardware.
Here’s a list of some of the biggest mergers and acquisitions in the tech industry since the 2000s:
What Is the Worst Tech M&A Deal Ever?
Not all M&A deals end up being positive developments for tech companies’ future.
The HP-Compaq merger in 2001 is often seen as one of the worst tech mergers and acquisitions in history.
The $25 billion deal was meant to strengthen HP by combining its networking strengths with Compaq’s expertise in personal computers. However, things didn’t go as planned.
- Problems with integration: One of the biggest issues was how hard it was for HP to integrate Compaq’s operations. The two companies had very different cultures, which led to conflicts and inefficiencies. HP also decided to phase out Compaq’s advanced technology, like the Alpha chip, and focus on its own Itanium chip. Unfortunately, the Itanium didn’t perform well, while competitors like Intel and AMD offered cheaper, more powerful options.
- Shifting focus: Another problem was that HP started focusing more on the low-margin PC business, which competitors like IBM were already abandoning. Critics argued that HP took resources away from its successful printing business, which led to a loss of market share.
- Shareholder disagreement: Many HP shareholders, including Walter Hewlett, opposed the merger. This caused tensions inside the company and made it harder to move forward.
In the end, the merger resulted in HP losing half of its market value, along with significant job cuts and instability in management.
The Bottom Line
The year 2024 has proven to be very active for tech mergers and acquisitions, with huge deals making a big impact across the industry.
Cisco’s $28 billion acquisition of Splunk and Alteryx going private are just a few examples of how tech company acquisitions are pushing forward innovation in software, cybersecurity, and AI.
While these deals bring exciting opportunities, the history of tech M&As also shows how quickly things can go wrong, like the infamous HP-Compaq merger.
FAQs
What is the largest tech M&A deal ever?
What are the tech M&A trends in 2024?
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References
- Investor Relations – Cisco Completes Acquisition of Splunk – Cisco (Investor Cisco)
- Cisco, supercharged by Splunk, will power and protect the AI revolution. (YouTube)
- HPE to acquire Juniper Networks to accelerate AI-driven innovation (HPE)
- IBM to Acquire HashiCorp, Inc. Creating a Comprehensive End-to-End Hybrid Cloud Platform (Newsroom IBM)
- Thoma Bravo Completes Acquisition of Darktrace (Thoma Bravo)
- Clearlake Capital Group and Insight Partners complete acquisition of Alteryx – Clearlake Capital (Clearlake)
- European Commission Clears Proposed HP–Compaq Merger (SEC)
