2020 was a pretty noisy year with various IT mergers and acquisitions going unnoticed. However, if you look at some of the largest IT mergers and acquisitions of 2020, which we have listed below, you will get a better idea of how active the merger market has been.
Undoubtedly, 2020 was a difficult year for most companies due to economic hardship, lost businesses and much more. And it was all safe because of the pandemic.
With all of this, the big technology companies took the opportunity in 2020 to expand their business with large IT acquisitions and mergers.
December 1: Salesforce acquires Slack for $ 27.7 billion
Slack integration is becoming increasingly popular for various SaaS apps in the areas of ticketing, conferences, project management, calendars, etc. Now Salesforce has taken this integration a step forward. It paid approximately $ 27.7 billion to change slack’s user interface for its customers.
November 30th: Facebook acquires Kustomer for USD 1 billion
Kustomer offers an amazing customer relationship management platform that specializes in high volume support. However, the company was essentially built for sale. Because Facebook has to contact its customers via multiple platforms. As a result, the company acquired Kustomer for $ 1 billion to bring the best possible value to its business.
November 10: Adobe acquires Workfront for $ 1.5 billion
Workfront is a popular project management solution previously known as At Task. The Utah-based company had sales of approximately $ 230 million in 2019. However, in 2020, it caught the attention of world-famous Adobe, which announced its intention to acquire Workfront for $ 1.5 billion on November 10, 2020.
July 6: Uber acquires Postmates
Uber also signed a $ 2.65 billion deal with Postmates. Postmates is a free service for Uber Eats that focuses on customers from different demographic groups. This is a Delivery as a Service pioneer who is sure to help Uber with its growing delivery efforts.
June 30: Google takes over glasses manufacturer North
After the failed efforts 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 makes stylish Focals smart glass. The company will step into Google’s Kitchener-Waterloo office.
June 26: Amazon acquires autonomous startup Zoox for £ 1.2 billion
Zoox is a California-based company working on autonomous technologies for mobility as a service. Amazon has announced a $ 1.2 billion deal with Zoox.
June 23: Mastercard takes over the open bank Fincity
Fincity provides a platform that enables financial institutions to connect data streams to a range of credit decision-making bodies and more. Fincity is basically a Utah-based company that specializes in open banking. However, in June 2020, Mastercard announced the acquisition for $ 825 million.
June 22nd: Microsoft acquires CyberX
CyberX is an Israel-based IoT security specialist. Microsoft has announced that it is taking an undisclosed amount to bring CyberX talent and technology to the Cloud Azure entity, which already offers IoT Stack and IoT Security.
May 28: Cisco acquires Thousand Eyes
Cisco announced the acquisition of Thousand Eyes for an undisclosed amount. Thousand Eyes is a network intelligence specialist that sold cloud-based analysis tools for wide area and local networks as well as 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 moving pictures, or you can say GIFs. This company’s talent and resources are made available for the social media giant’s Instagram division.
May 7th: Zoom acquires the end-to-end encryption specialist Keybase
Keybase is a messaging security specialist. The most popular video conferencing tool, Zoom, announced its acquisition on May 7, 2020. As Zoom’s user base grows, new ways are being found to make its customers’ conversations more secure through end-to-end encryption. And this is the result of one of the leading software company mergers and acquisitions.
May 4: Intel announces acquisition of Israeli startup Moovit
Moovit is a popular hail service that traffic authorities use through its popular app. However, Intel has confirmed the acquisition of Moovit, an Israeli startup, prior to May 4, 2020, for $ 1 billion. Intel was a strategic partner of Moovit even before this merger and takeover of software companies.
April 8: Cisco acquires Fluidmesh
Fluidmesh is a popular wireless backhaul specialist developing technologies to ensure reliable connections between fast-moving objects and sensors. However, Cisco announced the acquisition of Fluidmesh in April for an undisclosed amount. Cisco just hopes this acquisition will work in its favor and help strengthen Cisco’s industrial IoT portfolio.
April 8th: Accenture buys revolutionary security
Revolutionary Security is one of the most popular companies primarily focused on cybersecurity advisory services ranging from finding and introducing threats to penetration testing. Accenture announced the acquisition of this Philadelphia-based consulting firm on April 8, 2020.
February 25: Salesforce acquires Vlocity for $ 1.33 billion
Salesforce also announced a $ 1.33 billion deal with Vlocity. Velocity is a leading provider of industry-specific mobile software and cloud solutions that are natively based on the Salesforce platform.
January 15: Apple acquires Xnor.ai
Apple announced the acquisition of Xnor.ai, a Seattle-based company, on Jan. 15 for approximately $ 200 million. Xnor.ai was a startup that grew out of an Allen Institute for AI (non-profit). It specializes in image recognition and machine learning algorithms that work locally on the device.
January 13: Visa acquires Plaid
Visa announced the acquisition of Plaid for $ 5.3 million. Plaid is a solution that allows users to conveniently share their bank accounts with multiple apps. With the growing need for this connectivity, this IT acquisition is sure to open up amazing market opportunities in Visa’s fintech space.
So, these are the largest IT mergers and acquisitions (1) to have occurred in 2020. Most of these IT acquisitions went unnoticed by humans because of the circumstances. However, if you know about these IT acquisitions here, you definitely have an effective view of them.