An overview of European M&A deals this January

2023 is now well and truly underway. As January closes and we move into February, we’re taking a look back at what happened this month across Europe’s startup ecosystem. 

The term mergers and acquisitions (M&A) is pretty common in the business and entrepreneurial world. It refers to the consolidation of business and business assets through financial transactions and deals between companies. M&A agreements might involve one company purchasing and absorbing another company outright, it could be a merger to create a whole new company, the takeover of some assets or stock, or, it can even involve a hostile takeover. 

Acquisitions and exits are often seen as a solution, and sometimes as a last resort, to smaller startups struggling to raise funding and facing valuation cuts. At the same time, more mature players have seen it as a consolidative way to expand their presence, create new revenue streams and access new tech and talent. 

Here, we take an in-depth look at what happened in January outlining all the M&A deals that we tracked and highlighting the 5 most impactful exits. 

The 5 biggest exits

1. London-based AI-powered decision-making systems for the Enterprise InstaDeep, founded in 2015, was acquired by the German biopharmaceutical company BioNTech for €639 million.
2. Berlin-based builder of a fully managed Apache Flink cloud service for real-time stream processing applications at scale Immerok, founded in 2022, was acquired by the US-based streaming platform that enables companies to easily access data, Confluent. The acquisition was valued at €92 million. 
3. Belgrade-based self-sustaining provider of mmWave radar sensors and perception solutions NOVELIC, founded in 2013, was acquired by the Indian automotive technology company Sona BLW Precision Forgings. The acquisition was valued at €40.5 million. 
4. London-based B2B geopolitical and security intelligence provider Dragonfly, founded in 2021, was acquired by the US-based AI analytics provider on government information FiscalNote. The acquisition was valued at €30 million.
5. Cork-based AI data compliance platform Altada, founded in 2017, was acquired by the Eoin Goulding controlled company Cometgaze for €2.5 million.

January M&A overview

• London-based AI-powered decision-making systems for the Enterprise InstaDeep, founded in 2015, was acquired by the German biopharmaceutical company BioNTech for €639 million.
• Berlin-based builder of a fully managed Apache Flink cloud service for real-time stream processing applications Immerok, founded in 2022, was acquired by the US-based streaming platform that enables companies to easily access data, Confluent. The acquisition was valued at €92 million. 
• Belgrade-based self-sustaining provider of mmWave radar sensors and perception solutions NOVELIC, founded in 2013, was acquired by the Indian automotive technology company Sona BLW Precision Forgings. The acquisition was valued at €40.5 million. 
• Cork-based AI data compliance platform Altada, founded in 2017, was acquired by the Eoin Goulding controlled company Cometgaze for €2.5 million.
• Guernsey-based content writing agency for SaaS and SME’s Contentellect, founded in 2016, was acquired by the Taiwanese helper of investors OnFolio Holdings. The acquisition was valued at €783 k. 
• Zürich-based cloud-based payments integration platform Imburse, founded in 2018, was acquired by the US-based software company Duck Creek Technologies. The acquisition was undisclosed. 
• London-based leading platform to discover and shop the best independent boutiques and brands Trouva, founded in 2015, was acquired by the US-based co-working and retail space Re:Store. The acquisition was undisclosed. 
• London-based producer of smart technology products that predict customer behavior Yieldify, founded in 2013, was acquired by the US-based global marketing company Epsilon. The acquisition was undisclosed.
• Berlin-based combiner of traditional rental and innovative software solutions Flexcavo, founded in 2020, was acquired by the Danish Saas-based loT solution Trackunit. The acquisition was undisclosed. 
• London-based chat app for retail and hospitality teams Yapster, founded in 2015, was acquired by London-based employee app Sona. The acquisition was undisclosed. 
• Berlin-based Sustainable delivery Dropp, founded in 2021, was acquired by the German delivery webshop ARIVE. The acquisition was undisclosed.
• Düsseldorf-based full-service provider for SME financing COMPEON, founded in 2012, was acquired by the Group product officer Dock Financial. The acquisition was undisclosed.
• Istanbul-based business messaging platform MindBehind, founded in 2016, was acquired by the Singapore-based consumer data connector Insider. The acquisition was undisclosed.
• Barcelona-based Artificial Intelligence software developer Gestoos, founded in 2015, was acquired by the US-based technology company PreAct. The acquisition was undisclosed.
• Copenhagen-based diagnostic technology developer Twelve Bio, founded in 2019, was acquired by the US-based genomic medicine company Ensoma. The acquisition was undisclosed.
• Zurich-based cloud computing company Avrios, founded in 2015, was acquired by the US-based investments firm Battery Ventures. The acquisition was undisclosed.
• Amsterdam-based online search engine for lawyers Bluetick, founded in 2019, was acquired by the Danish secure document provider Sdu-Identification. The acquisition was undisclosed.
• Elstree-based online games developer Digital Gaming, founded in 2014, was acquired by the Guernsey-based Holding company Super Group. The acquisition was undisclosed.
• Le Bouscat-based producer of solution for the treatment of spinal pathologies BackBone, founded in 2012, was acquired by the US-based spine surgery provider Companion Spine. The acquisition was undisclosed.
• London-based platform that provides healthcare Ryalto, founded in 2015, was acquired by the UK-based HR firm nGAGE Talent. The acquisition was undisclosed.
• Oxford-based precision therapeutics company Argonaut Therapeutics, founded in 2016, was acquired by the UK-based oncology company IngenOX Therapeutics. The acquisition was undisclosed.
• Roma-based concierge app for Vacation Rental Edgar Smart Concierge, founded in 2017, was acquired by the Rome-based guest engagement driver Manet. The acquisition was undisclosed.
• Boulogne-billancourt-based specializer in the latest news Smart Traffik, founded in 2012 was acquired by France-based cross-channel data marketing expert Dekuple. The acquisition was undisclosed.
• Cagliari-based online marketplace of touristic experiences and services Guide Me Right, founded in 2014, was acquired by the Rome-based guest engagement driver Manet. The acquisition was undisclosed.
• Hamburg-based gourmet products supplier Foodist, founded in 2012, was acquired by the German consulting company The Quality group. The acquisition was undisclosed.
• Istanbul-based Fitty, founded in 2021, allows users to go to the gym of their choice and pay for the minutes they use, it was acquired by the Saudi-Arabia-based consumer goods company Tamer Group. The acquisition was undisclosed.
• Münster-based innovation consultancy company Finstreet, founded in 2014, was acquired by the German enterprise software provider Fintus. The acquisition was undisclosed.
• Dublin-based display ad revenue growth deliverer Snigel, founded in 2012, was acquired by the London-based CBPE Capital. The acquisition was undisclosed.
• Göteborg-based intelligent mobility maker Zenseact, founded in 2020, was acquired by the Swedish automotive manufacturer Volvo Cars. The acquisition was undisclosed.
• Berlin-based student messaging home Clay, founded in 2021, was acquired by the Italian feedback loop platform Wyblo. The acquisition was undisclosed.
• Helsinki-based cooking skills platform for kids on mobile Carrot Kitchen, founded in 2017, was acquired by the Oslo-based kids entertainment platform Chew. The acquisition was undisclosed.
• Munich-based Venture Client solutions 27pilots, founded in 2018, was acquired by the US-based consulting firm Deloitte. The acquisition was undisclosed.
• Cambridge-based developer of environmentally sealed parts Bulgin, founded in 2016, was acquired by the US-based supplier of electronics component Infinite Electronics. The acquisition was undisclosed.
• London-based royalty processing company Curve Royalty Systems, founded in 2019, was acquired by the US-based music company Downtown Music Holdings. The acquisition was undisclosed.
• London-based digital and AI solutions provider for the financial services industry Meet Parker, founded in 2020, was acquired for an undisclosed amount. The acquisition was undisclosed.
• Turin-based self-ordering app Onyon, founded in 2020, was acquired by the Italian fintech company Satispay. The acquisition was undisclosed.
• Uppsala-based increase profitability software Caspeco Air AB, founded in 2014, was acquired by the Swedish growth investor Monterro for an undisclosed amount. 
• Lübben-based accounting software Buchhaltungs Butler, founded in 2015, was acquired by the Oslo-based business software Visma for an undisclosed amount.
• Leeds-based speaking radio news provider Radio News Hub, founded in 2014, was acquired by the London-based media company Markettiers4DC for an undisclosed amount. 
• London-based consultancy company Source Health Economics, founded in 2016, was acquired by the London-based consulting company SCIRIS for an undisclosed amount. 
• Walldorf-based innovative software company Metaphacts, founded in 2014, was acquired by the London-based scientific research software company Digital Science for an undisclosed amount. 
• Saint Ives-based software company that brings Microsoft 365 governance to life for all customers ProvisionPoint, founded in 2015, was acquired by the Canadian private equity firm Capficiency. The acquisition was undisclosed.
• Oss-based precision medicine services company Oncolines, founded in 2021, was acquired by the Dutch small molecule contact research company Symeres. The acquisition was undisclosed.
• Leeds-based cloud-based sensor platform Hark Systems, founded in 2015, was acquired by the Israel-based solar power electronics provider SolarEdge Technologies. The acquisition was undisclosed.
• Lisbon-based team support partner Lisbon Tech Guide, founded in 2019, was acquired by the Lisbon-based job marketplace Landing.jobs. The acquisition was undisclosed.
• Cham-based developer of software and algorithms to trade in financial markets Tensor Technologies, founded in 2018, was acquired by the Dutch financial market firm IMC Trading. The acquisition was undisclosed.
• London-based solution-focused production company Golden Wolf, founded in 2013, was acquired by the Canadian Web3 NFT Doodles. The acquisition was undisclosed.
• Tórtola-based iGaming development and software firm 1Click Games, founded in 2013, was acquired by the Canadian Lion Gamic Group. The acquisition was undisclosed.
• Plympton-based provider of artificial intelligence-backed technology MBI Healthcare Technologies, founded in 2012, was acquired by the US-based energy transition company DNV. The acquisition was undisclosed.
• Søborg-based Danish e-learning platform GoLearn, founded in 2017, was acquired by the Helsinki-based educational organization Eduhouse. The acquisition was undisclosed.
• Leeds-based platform that enables mortgage brokers to conduct on-demand affordability checks BrokerSense, founded in 2017, was acquired by the UK-based exceptional technology creator Twenty7Tec. The acquisition was undisclosed.
• Ruggell-based provider of dependable messaging solutions for global aggregators DIMOCO Messaging, founded in 2015, was acquired by the US-based communication solution iBasis. The acquisition was undisclosed.
• Bolzano-based designer of embroidery on cotton and other materials Ricamificio Elleci, founded in 2017, was acquired by the Italian leather producer Gruppo Florence. The acquisition was undisclosed.
• Watford-based New Space company that brings high-performance smallsat communications TXMission, founded in 2018, was acquired by the US-based space and airborne platform producer CesiumAstro. The acquisition was undisclosed.
• Groningen-based IT company that helps with Dapas Compliance and Process Manager solutions Dapas Software, founded in 2015, was acquired by the Danish fintech company Hyarchis. The acquisition was undisclosed.
• London-based independent production company Interstellar TV, founded in 2020, was acquired by the UK-based production company Tuesday’s Child. The acquisition was undisclosed.
• London-based B2B geopolitical and security intelligence provider Dragonfly, founded in 2021, was acquired by the US-based AI analytics provider on government information FiscalNote. The acquisition was valued at €30 million.
• London-based outdoor adventure platform FATMAP, founded in 2013, was acquired by the US-based sportist online network Strava. The acquisition was undisclosed. 
• London-based cheaper issuance and administration maker of financial instruments Nivaura, founded in 2016, was acquired by the Luxembourg-based cloud-native integrated transaction platform NowCM.The acquisition was undisclosed. 
• Amsterdam-based restaurant online reservation solution Formitable, founded in 2017. Was acquired by the France-based all-in-one marketing SaaS that helps restaurants attract customers ZenChef. The acquisition was undisclosed. 
• London-based independent insurance adviser Anorak, founded in 2017, was acquired by the German-based insurance platform Clark. The transaction was undisclosed. 
• Berlin-based acquisition and divestment platform Carl, founded in 2016, was acquired by the German growth capital DoubleDigit Group. The acquisition was undisclosed. 
• London-based idea management software Idea Drop, founded in 2014, was acquired by the London-based Enterprise Innovation Platform comprising Wazoku. The acquisition was undisclosed. 
• London-based home rending and letting platform Halo, founded in 2019, was acquired by the London-based estate agents helper software Goodlord. The acquisition was undisclosed. 
• Stuttgart-based car subscription ViveLaCar, founded in 2019, was acquired by the German retail software solution The Platform Group. The transaction was undisclosed. 
• Helsinki-based computational analytics solutions software SimAnalytics, founded in 2013, was acquired by the Finnish Kemira Chemicals. The acquisition was undisclosed. 
• Hamburg-based food delivery Eatclever, founded in 2015, was acquired by the London-based delivery franchise provider Peckwater Brands. The acquisition was undisclosed. 
• Hamburg-based flexible automation platform Locoia, founded in 2019, was acquired by the German consultancy provider Aeron. The acquisition was undisclosed. 
• Barcelon-based workspace app YADO, founded in 2019, was acquired by the Dubai-based Online Platform that connects Coworking Spaces and Office Owners Hotdesk. The acquisition was undisclosed. 
• Madrid-based businesses AI incorporator BeDataScience, founded in 2017, was acquired by the spanish creative software Panel Sistemas. The transaction was undisclosed.
• Sofia-based automating e-commerce logistics SaaS Trackerbot, founded in 2016, was acquired by the venture capital Quadra Group. The transaction was undisclosed. 
• Matlock-based distance-learning company ProDental CPD, founded in 2012, was acquired by the UK-based dental and primary care provider Agilio Software. The acquisition was undisclosed. 

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