XTEND [extend], an Israeli software-first defense and security technology company building a unified operating ecosystem for human-guided autonomy secured a business combination worth $1.5 billion with residential and commercial real estate Florida-based company JFB Construction in February. This deal will create a US provider of AI-driven autonomous defense and security solutions capable of operating in multiple domains.

Finally, Whip Around, a North Carolina-headquartered creator of cloud-based inspection and maintenance platform that digitizes workflows for vehicles, equipment and job sites, sold off a majority stake for $100 million to California’s PE firm Accel-KKR in February to increase investment in its platform capabilities and continue scaling its go-to-market functions. Additionally, this opens up new growth opportunities through future M&A activity, leveraging Accel-KKR’s expertise to do so.

Also in January, Scytec Consulting, an Arizona-based developer of manufacturing technology that enables real-time machine data collection, machine monitoring and Overall Equipment Effectiveness, was bought by Minitab, a Pennsylvania-based provider of statistical software. This deal will broaden its ability to gather comprehensive, real-time data directly from CNC machines, PLCs, robots, welders and other production equipment in manufacturing and other settings.

In January, Automa Power & Utilities, a Brazil-based provider of integrated solutions for multi-technology power plants including renewables, transmission and distribution grids, was pocketed by DNV, a global assurance, risk management, testing, certification and advisory company out of Norway. Through this deal, DNV substantially grew its exposure to Brazil’s electricity software market with room for upside in Europe and elsewhere. 

Another notable deal involved Totalmobile, a field services management platform out of the United Kingdom, which was acquired for $593M from Bowmark Capital by funds advised by Germany-based Deutsche Beteiligungs alongside Five Arrows, the alternative investment arm of Rothschild. The acquisition enables the company to provide comprehensive international field service and workforce optimization technology in a world that continues to adopt digital solutions. Once the deal closed, Totalmobile agreed to merge with Solvares Group to create a comprehensive international provider of field service and workforce optimization technology.