Top Ten Tech M&A Transactions This Week by Ascento 2/20/26

Ascento @ www.techbanking.com

Deal of the Week

2/17/26 OpenAI's acquisition of OpenClaw signals the beginning of the end of the ChatGPT era

The chatbot era may have just received its obituary. Peter Steinberger, the creator of OpenClaw — the open-source AI agent that took the developer world by storm over the past month, raising concerns among enterprise security teams — announced over the weekend that he is joining OpenAI to "work on bringing agents to everyone."

The OpenClaw project itself will transition to an independent foundation, though OpenAI is already sponsoring it and may have influence over its direction.

The move represents OpenAI's most aggressive bet yet on the idea that the future of AI isn't about what models can say, but what they can do. For IT leaders evaluating their AI strategy, the acquisition is a signal that the industry's center of gravity is shifting decisively from conversational interfaces toward autonomous agents that browse, click, execute code, and complete tasks on users' behalf.

Venture Beat

2/19/26 CACI swoops for public sector data specialist Datalynx

Founded by Charlie Spinks in 2002, Datalynx provides customers with a comprehensive data migration service, from planning through to build, test and compliance and is known for handling highly sensitive data, with consultants holding government security clearance (SC) and police clearance (NPPV3).

The company works for 51 police forces, the Home Office, and national security databases (PND, CAID); it also has a number of corporate clients including Capita and Argos, along with  software vendors and cloud providers.

Decision Marketing

2/18/26 Incorta Acquires Layout.dev

Incorta, a Foster City, CA-based provider of real-time data platforms for decision intelligence, acquired Layout.dev, a Cairo, Egypt-based provider of no-code AI application-building platforms.

The amount of the deal was not disclosed. With the deal, Incorta will expand its capabilities in agentic AI and low-code development, allowing business teams to transition from static dashboards to live, composable workflows. Incorta will now give business users a direct way to design, test, and deploy agentic workflows and applications on live enterprise data with full context and without long implementation cycles.

Finsmes

2/18/26 Net at Work Acquires Leading Microsoft Managed Services Provider OnPar Technologies, an IT ExchangeNet Transaction

Net at Work, one of North America's leading technology advisors and managed service providers to small and mid-sized businesses, today announced it has entered into a definitive agreement to acquire OnPar Technologies, a cloud-first Microsoft solutions provider.

The transaction, facilitated by IT ExchangeNet, underscores Net at Work's strategy to deepen its cloud and managed services capabilities while expanding its presence across the Eastern United States. OnPar was also advised during financial due diligence by Bob Lowe and the team at ExecHQ.

The National Law Review

2/18/26 Nexfibre Agrees to Acquire Netomnia in Major UK Fibre Deal

The acquisition is expected to attract approximately 3.5 billion pounds of international investment into the United Kingdom. Following the announcement, shares of Liberty Global traded more than ten percent higher. InfraVia is not publicly traded, while Telefonica's shares were down around one percent for the day.

The acquisition is expected to attract approximately 3.5 billion pounds of international investment into the United Kingdom. Following the announcement, shares of Liberty Global traded more than ten percent higher. InfraVia is not publicly traded, while Telefonica's shares were down around one percent for the day.

Index Box

2/18/26 Ondas seeks to acquire Rafael’s drone maker Aeronautics in expanding Israeli defense blitz

The US-based defense firm aims to expand its Israeli footprint, raising questions about security approvals, executive departures, and Rafael’s broader privatization strategy.

The American company Ondas is seeking to acquire the drone developer and manufacturer Aeronautics from Rafael, Calcalist has learned. Rafael’s board of directors has recently been discussing an offer, the scope of which remains unknown, submitted by Ondas to acquire its subsidiary, which is involved in classified security projects for the IDF and the defense establishment. From the board’s deliberations, it appears that the offer is considered attractive.

CTech

2/18/26 Danaher’s $9.9B Masimo Deal Marks One of 2026’s Largest Medtech Buyouts

Danaher (NYSE: DHR) is acquiring Masimo (NASDAQ: MASI) for $9.9 billion in an all-cash deal that values the medical technology company at $180 per share. The transaction, announced February 17, 2026, represents a nearly 40% premium over Masimo’s closing price on Friday, February 13, 2026.

Masimo specializes in pulse oximetry and patient monitoring technology, generating $2.18 billion in revenue over the trailing 12 months. The company reported $371.5 million in revenue for Q3 2025, with non-GAAP EPS of $1.32, up 38% year-over-year. Masimo recently streamlined operations by selling its Sound United consumer audio division, allowing management to refocus on core medical device business.

247 WallSt

2/17/26 Booz Allen to acquire Defy Security, expanding global cyber reach

Booz Allen Hamilton has entered into a definitive agreement to acquire Defy Security as a wholly owned subsidiary. The acquisition will expand delivery of end-to-end, tech-enabled cybersecurity solutions for U.S. and international enterprises across financial services, healthcare and life sciences, manufacturing, technology, energy, retail, and other sectors.

Defy Security’s customer base, sales expertise, and vendor relationships will complement Booz Allen’s industry knowledge and tradecraft across commercial and federal markets. The combination will expand its ability to deliver cyber products and services, including the AI-powered malware analysis product Vellox Reverser, while maintaining security, compliance, and oversight standards.

Help Net Security

2/17/26 Magnet Defense to Acquire Advanced Technology Group

Caterpillar Inc. (NYSE: CAT) has acquired RPMGlobal Holdings Limited (ASX: RUL), an Australian-based mining software company. The acquisition expands Caterpillar’s portfolio of data-driven mining technology and software solutions that help customers plan, operate and manage their sites more efficiently.

Headquartered in Brisbane, Australia, RPMGlobal has deep domain expertise in mining technology enablement, providing customers with data-driven software solutions across the mining value chain. Caterpillar announced an agreement to acquire RPMGlobal in October 2025.

The AI Journal

2/17/26 Mistral AI buys Koyeb in first acquisition to back its cloud ambitions

Mistral AI, the French company last valued at $13.8 billion, has made its first acquisition. The OpenAI competitor has agreed to buy Koyeb, a Paris-based startup that simplifies AI app deployment at scale and manages the infrastructure behind it.

Mistral has been primarily known for developing large language models (LLMs), but this deal confirms its ambitions to position itself as a full-stack player. In June 2025, it had announced Mistral Compute, an AI cloud infrastructure offering which it now hopes Koyeb will accelerate.

TechCrunch