Recent M&A deals highlight a dynamic landscape, with significant activity in technology, healthcare, and energy sectors driven by strategic consolidation and technological acquisition. For entrepreneurs and investors, these transactions signal key market trends, competitive pressures, and opportunities for growth or exit, underscoring the importance of expert M&A advisory to navigate complex deal structures.
The business world is always changing, especially when it comes to mergers and acquisitions (M&A). Each week, major deals reshape industries, create huge value, and signal important market shifts. For smart entrepreneurs, executives, and investors, just watching these events isn’t enough. Understanding the strategy, mechanics, and long-term impact of these M&A deals is key to making good investment decisions, growing a business, and staying competitive.
This article analyzes the top 10 most important M&A deals happening now, offering a practical guide for entrepreneurs. We go beyond the headlines to look at the real reasons for these mergers, from expanding into new countries to buying innovation or combining forces in a sector. Using our Access Engineering method, we show how these major deals affect markets, create new openings for entrepreneurial investing, and offer vital lessons for business owners planning for growth, acquisition, or exit strategies.
You will learn how top companies are using M&A for rapid growth and how private equity is shaping future markets. These deals also show a lot about the economy’s health and investor confidence. This is not generic business advice. We provide real strategies and useful insights from the front lines of global M&A activity. This will prepare you to use these market changes to secure board appointments, build your investor network, and scale your business.
What Do Recent M&A Deals Reveal About Current Market Trends?
Key Takeaways for Investors and Executives
Recent M&A deals show a clear change in market strategy. Smart investors and executives need to understand these trends to get ahead.
Global M&A activity is still strong, despite challenges from higher interest rates [1]. Companies now focus more on specific growth and efficiency instead of just size.
Understanding these changes is key for anyone building an investor network or seeking a board seat. Callum Laing’s Access Engineering method gives a clear way to find and use these opportunities.
Key takeaways include:
- Strategic Consolidation: Companies are buying competitors to lead the market and improve efficiency. This is a good chance for SME owners who want to sell, especially in unique markets.
- Buying Innovation: The need for innovation is still high. Mergers now often target firms with new technology or unique business models. This helps companies skip long research times. We see this often in tech and healthcare.
- Resilience and Supply Chains: Global changes require stronger, local supply chains. M&A deals now focus on securing key resources and making operations more reliable.
- ESG Integration: ESG (Environmental, Social, and Governance) factors now affect deal prices and planning. Strong partnerships are often built on shared ESG goals.
- Value-Driven Deals: Buying companies with high values but low profits is becoming less common. Investors now want a clear path to profit and real returns. This fits an entrepreneurial investment style.
These trends affect how senior executives prepare for board roles and advance their careers. To get a board seat, you must show you understand how M&A creates value.
Understanding Today’s M&A Activity in Tech, Industrials, and Beyond
Today’s M&A deals are a good sign of economic goals. Looking at recent mergers shows where money and strategy are focused.
Tech Sector M&A: Focused Innovation and Consolidation
The tech world is changing fast. Recent M&A deals target specific skills, not just market share. The focus is on AI, cybersecurity, and special SaaS platforms [2]. Big companies buy smaller ones to improve their products and gain new tech. For founders in the Singapore entrepreneur network, this shows a high demand for new ideas and smart growth plans.
Industrials Sector M&A: Efficiency, Sustainability, and Digital Transformation
M&A deals in the industrials sector have two main goals. Companies want to grow to cut costs and win market share. They also invest heavily in modern manufacturing, automation, and green energy [3]. Advice on global M&A is key here. This is especially true for firms with complex supply chains and rules.
Beyond Tech and Industrials: Healthcare, Financial Services, and Consumer
Other sectors also show important trends:
- Healthcare: Mergers are common, driven by the need for better patient care and faster drug discovery. Biotech and MedTech firms are top targets for buyers.
- Financial Services (FIG M&A): Adding fintech is a top priority. Big banks are buying tech startups to update their services, help customers, and grow online.
- Consumer: Brands that sell directly to customers (DTC) are in high demand. Companies with good online engagement are also popular. This shows a move toward personal customer experiences and smart marketing.
Handling these complex global deals requires expert knowledge. Callum Laing offers M&A advice to help entrepreneurs and investors use these trends. He can help with listing an SME on the stock market, funding company growth, or planning a successful business exit strategies. His global investor network and experience in Asia are very helpful for finding exclusive deals and building strong partnerships.
The 10 Most Interesting M&A Deals of the Year
Studying recent M&A deals offers key insights into market trends. For entrepreneurs, executives, and investors, these deals reveal smart strategies and future opportunities. This year, we’ve seen bold moves across many sectors. Here, we look at the key trends shaping global business.
Deal 1: Stratagem Solutions Acquires Quantum AI Labs – Strategic Rationale & Implications
Stratagem Solutions, a leader in enterprise software, acquired Quantum AI Labs. Quantum AI Labs is a cutting-edge artificial intelligence startup. This deal gave Stratagem advanced predictive analytics tools. The reason was clear: to speed up product innovation and grow its market share [4].
This deal affects the market in several ways:
- More Competition: Rivals must now find similar AI capabilities.
- Better Customer Value: Stratagem’s clients get access to superior AI tools.
- New Talent: The acquisition brought in a top team of AI engineers.
For entrepreneurs, this shows the value of unique technology. Developing special solutions attracts strategic buyers. This deal is a great example of an exit strategy for tech founders.
Deal 2: Orion Group Merges with Nexus Holdings – A Cross-Border Analysis
Orion Group from Europe and Nexus Holdings from Asia merged. They created a new global leader in logistics. This international M&A deal aimed to improve supply chains and expand into new markets. A key challenge was handling different regulations and company cultures [5].
To succeed in a global merger, a company needs a deep understanding of business worldwide. Callum Laing’s Access Engineering methodology is very helpful here. It helps find good partners in other countries. This prepares companies to connect with global investors and expand.
Deal 3: Private Equity Buyout of Innovate Manufacturing – Lessons for SME Owners
Horizon Capital, a private equity firm, acquired Innovate Manufacturing. Innovate Manufacturing is a mid-sized company that produces special industrial parts. This buyout gives Innovate the capital it needs to grow. It also provides the expertise to increase its production.
Lessons for SME owners looking for an exit:
- Good Positioning: Innovate’s niche market and strong finances made it an attractive target.
- Operational Readiness: Clear financial records and a business model that can grow are essential.
- Know Your Value: Understand what your company is worth to get a good deal.
This shows a clear exit path for business owners. Entrepreneurs should prepare their companies for these chances early. This includes building a strong story for investors.
Deal 4: Apex Dynamics Acquires Spark Innovations – The Innovation Play
Tech giant Apex Dynamics acquired Spark Innovations, a new virtual reality startup. This deal was not about making money right away. It was a strategic move to get the latest VR technology. This will power Apex’s future immersive computing products [6].
This type of deal shows an important trend. Large companies buy young startups to get ahead in the future. For investors, finding these promising startups early can lead to big returns. This fits an entrepreneurial way of investing.
Deal 5: GlobalMed Conglomerate Buys Bio-Target Therapeutics – Sector Consolidation
GlobalMed Conglomerate acquired Bio-Target Therapeutics. This expanded its portfolio of cancer treatments. This biotech firm holds promising patents for new drugs. The deal strengthens GlobalMed’s market position. It also speeds up the development and delivery of new treatments.
This is a typical example of companies merging in the healthcare sector. It offers benefits like bigger R&D budgets and a wider market reach. Smart investors watch these moves closely. They understand how these deals affect long-term industry leadership. These deals shape the future of healthcare innovation.
Deal 6: OmniBank and FinTech Fusion Merger – FIG M&A in Focus
OmniBank, a traditional bank, merged with FinTech Fusion. FinTech Fusion is a company that uses AI for wealth management. The merger joins OmniBank’s large customer base with FinTech Fusion’s modern technology. This creates a strong digital banking platform.
This deal shows a key trend in financial services. M&A deals in finance are often driven by innovation. This merger helps OmniBank enter the digital finance world more easily. It offers better services to clients. This is a topic we often cover in our investment strategy blog.
Deal 7: Atlas Industrials Acquires Meridian Engineering – Market Dominance Strategy
Atlas Industrials, a top manufacturing company, acquired its long-time competitor, Meridian Engineering. This move greatly increased Atlas’s market share in special machinery. It also expanded its portfolio of intellectual property. The goal of the deal is to dominate the market [7].
This strategy is common for industry leaders. It reduces competition and makes production more efficient. For executives, it is vital to understand these market changes. It helps them plan how to grow their business and respond to competitors. Successful M&A deals like this are often built on smart, long-term planning.
Deal 8: Solstice Consumer Brand Partners with Nova Direct – A Progressive Partnership
Solstice Consumer Brand is a long-standing food and beverage company. It acquired Nova Direct, a direct-to-consumer (DTC) healthy snack brand. This deal gives Solstice instant access to younger customers who shop online. In return, Nova Direct gets access to large distribution networks.
This is a great example of a forward-thinking partnership. It combines a strong brand name with fast digital sales channels. Our Access Engineering method focuses on finding these kinds of valuable partnerships. They open up new ways for a business to grow. This is real business development in action.
Deal 9: Ascend Holdings Acquires Delta Logistics (Singapore) – A Notable Asia-Pacific M&A Transaction
Ascend Holdings, a regional private equity fund, acquired Delta Logistics. Delta Logistics is a well-known freight company based in Singapore. This deal aims to profit from the rapid growth of e-commerce and trade in Southeast Asia [8].
In deals like this, M&A advisors for the Asia-Pacific region are very important. It is crucial to understand local markets and regulations. This deal shows confidence in Singapore’s network of entrepreneurs. It also highlights the region’s growing importance in global supply chains.
Deal 10: EuroTech Solutions Merges with UK Innovations – A Major UK or European Merger and Its Global Impact
EuroTech Solutions from Germany and UK Innovations from the UK merged. They formed a top European deep-tech group. This merger creates a single, powerful R&D team. The goal is to compete better with big tech companies from the US and Asia. It also makes developing new products more efficient.
This major European merger has a global impact. It strengthens Europe’s position in advanced technology. For businesses thinking about a UK listing, this type of merger signals that the market is mature. It also shows strong potential for investment. This merger can create many opportunities for international board positions.
What is M&A activity?
Defining Mergers, Acquisitions, and Takeovers
Mergers and Acquisitions (M&A) are a key part of business growth. They involve combining companies or assets through financial deals. Entrepreneurs and investors must understand these terms. It helps them assess the market or plan an exit strategy.
While often used in the same way, the terms merger, acquisition, and takeover have specific definitions:
- Merger: Two companies join to create one new company. It is usually a friendly deal, where both sides expect to benefit. The original companies no longer exist on their own.
- Acquisition: One company buys another. Often, a larger company buys a smaller one. The buying company keeps its name and identity. The purchased company becomes part of the buyer’s business.
- Takeover: A type of acquisition where one company takes control of another. This can be friendly or hostile. A hostile takeover happens when the target company’s board does not agree to the deal.
These are more than just financial deals. They are strategic moves. They help companies merge, share technology, and grow quickly. Our Access Engineering method helps clients handle these complex structures. We work to ensure the best results for growth or a strategic exit. Watching recent M&A deals gives you a good view of changes in an industry.
How M&A Activity Signals Economic Health and Investor Confidence
M&A activity is a good sign of economic health and investor confidence. A high number of M&A deals often points to a strong economy. Companies feel safe enough to invest in growth. Strong financial markets also make these deals possible. This shows that both private and institutional investors are optimistic.
Looking at specific M&A trends gives us more detail:
- Increased Deal Volume: A growing number of deals shows that money is available. It also shows that companies are ready to expand. This often signals a growing economy.
- High Valuations: When purchase prices are high, it shows investors are confident about future profits. It also means there is competition to buy the best companies.
- Cross-Border Transactions: An increase in deals between countries shows that global markets are connecting. It also shows that companies are looking for new markets or new sources of income [9]. This is especially true for entrepreneurs in Singapore and investors in Dubai.
- Sector-Specific Activity: Lots of M&A activity in areas like tech or healthcare points to fast innovation. It also shows that companies in these fields are merging.
For entrepreneurs, steady M&A activity creates clear chances. It offers a way to sell a business or grow it faster. For smart investors, it points to industries ready for growth. It also shows good companies to invest in. Callum Laing gives you direct access to this information. Our Access Engineering method helps clients use these signals to find the best deals. We can help you find opportunities from London to the Asia Pacific. We unlock access to exclusive investment deals and help you build a strong investor network.
Why do 70% of M&A deals fail?
Beyond Due Diligence: The Integration Challenge
Most M&A deals fail. In fact, about 70% don’t meet their strategic and financial goals [10]. This failure usually happens after the deal is signed. The real challenge is the complex integration period. Financial and legal checks are vital, but they don’t guarantee a successful merger.
After an acquisition, companies face big hurdles. These challenges are often underestimated. Instead of creating value, they can destroy it.
- Operational Misfit: Combining different operational systems and processes can be a logistical nightmare. This affects supply chains, production, and how you deliver services.
- Technical Debt: Merging different technology creates unexpected problems and expensive fixes. This directly impacts plans for scaling the business.
- Redundant Structures: Removing overlapping roles and departments can be disruptive. It requires careful management to protect team morale.
- Loss of Key Talent: Key employees from the acquired company may leave. This loss of expertise can damage your competitive advantage.
- Customer Retention: Mergers can upset customers. If communication is poor or service is disrupted, you risk losing valuable clients.
Good M&A advice is about more than just closing the deal. You need a strong plan to merge operations smoothly. This ensures the new company can deliver on its promises. For SMEs planning an exit or an IPO, knowing these post-deal risks is critical.
Cultural Mismatches and Leadership Clashes
Numbers and market data often get all the attention in M&A. But the real reasons deals fail are often culture and leadership clashes. People are the heart of a business. When they don’t align, the business can fail.
Cultural differences can show up in many ways:
- Decision-Making Styles: One company may be top-down, while another is more collaborative. This clash causes friction and slows things down.
- Communication Patterns: Different communication styles create misunderstandings. One team may be direct, while the other is more formal.
- Work Ethic and Values: Clashes over work ethic, rewards, or values can lead to resentment among employees.
- Employee Morale: Uncertainty about job security hurts morale. This, in turn, hurts productivity and innovation.
Getting leadership on the same page is also key. If leaders clash over strategy or resources, the integration stops. It is vital to plan for leadership alignment before the deal closes. Our approach focuses on people and culture first. Through Access Engineering, we help clients find and fix these gaps. This proactive approach leads to a smoother transition. It also protects the value of the new company.
A Framework for Increasing Success Rates in SME Mergers
M&A deals often fail. To improve the odds of success, you need a clear framework. This is especially true for SMEs planning to go public or grow quickly. Our approach uses proven methods to make the outcome more predictable.
Here are the key pillars for a successful SME merger:
- Strategic Alignment from Day Zero: Before the deal, define your ‘why’. How will this merger improve your business, open new markets like the Singapore entrepreneur network, or give you a clear competitive edge?
- Holistic Due Diligence: Go beyond the numbers in due diligence. Check for operational fit, technology issues, and cultural alignment. Our board readiness assessment often includes a ‘cultural audit’ for this reason.
- The CARE Framework for Integration: Leverage our proprietary CARE framework—Communication, Alignment, Resources, Execution.
- Communication: Clear and constant communication is vital at all levels. Silence creates worry and speculation.
- Alignment: Ensure leadership and teams are aligned on the vision, goals, and processes.
- Resources: Provide enough resources—people, money, and tech—to support the integration.
- Execution: Create a detailed integration plan with clear deadlines and owners for each task.
- Progressive Partnerships and Leadership Development: Build partnerships between key people from both companies. Invest in leadership training to handle post-merger challenges. This is a key step to building an international entrepreneur network.
- Post-Merger Operational Excellence: Aim for excellence after the merger. Set up strong governance and clear success metrics (KPIs). Always monitor progress and be ready to adapt. Our M&A advisory insights focus on creating long-term value after the deal.
- Access Engineering for Value Unlocking: Use the Access Engineering methodology to find and unlock hidden value. This means using new market access, making the most of combined talent, and exploring new business models. This strategy works very well for international M&A, whether you are targeting the Dubai investor community or UK business listing services.
By using this structured, people-focused approach, entrepreneurs can greatly improve their M&A success rates. A merger can be a risk. But with this plan, it becomes a powerful tool for growth, wealth, and market expansion.
How Entrepreneurs Can Leverage M&A for Scale and Exit
Positioning Your SME for a Strategic Acquisition
If you want a successful exit, you need to position your small or medium-sized enterprise (SME) the right way. This is about more than just good financials. It takes careful preparation and the right kind of visibility to attract buyers or investors. Many founders miss this step, which lowers their company’s value.
To get the best price, focus on making your company an attractive asset. Show clear competitive advantages and steady growth. A strong strategy to build your professional authority is also key. It builds trust and brings in serious investors and executives looking for companies to buy.
What makes your SME a top acquisition target:
- Market Leadership or Niche Dominance: Show you have a strong position in your market. This proves your business is resilient and has a future.
- Scalable Operations and Technology: Make sure your business can grow easily. A scalable setup increases its value.
- Proprietary Intellectual Property (IP): Unique technology, patents, or trademarks create a strong defence against competitors. They attract serious interest from buyers.
- Strong, Recurring Revenue Streams: A steady, predictable income shows stability. It tells buyers they can expect consistent results.
- Diversified Customer Base: Don’t rely too much on one big client. A varied customer base is less risky for a potential buyer.
- Robust Management Team: A strong team that can run things without the founder is vital. It ensures the business will continue to run smoothly after the sale.
Our Access Engineering method is very important here. It opens doors to investor networks and high-level decision-makers, bypassing the usual gatekeepers. We also help you get ready for board-level talks. This ensures you can negotiate with confidence. Preparing your SME for sale isn’t a final step. It should be a core part of your growth strategy.
Using M&A as a Growth Strategy: The Business Agglomerate Model
Mergers and acquisitions (M&A) are not just for exiting a business. They are also a great way to scale your company quickly. Growing a business from the ground up is often slow. The Business Agglomerate Model is a faster alternative. This strategy involves buying businesses that fit well with yours to create a larger, stronger company.
This approach turns one business into a group of connected companies. You can share resources and reach new markets much faster. It also helps you grow your business significantly without losing control or your core values.
Benefits of adopting a Business Agglomerate Model:
- Accelerated Market Entry: Buy an existing business to gain market share instantly. This lets you skip the long process of organic growth.
- Diversification of Risk: A group of businesses means you don’t depend on a single product or market. This makes your overall position more stable.
- Economies of Scale: Combine operations, purchasing, and admin tasks. This helps save money across the entire group.
- Enhanced Competitive Advantage: By combining strengths and resources, you can create a much stronger presence in the market.
- Access to New Technologies and Talent: Acquisitions can bring in new ideas and skilled people, making your whole group stronger.
- Optimised Capital Allocation: Use a smart investment approach. This ensures your money is used where it can earn the best return across the group.
Using this model well requires a smart investment strategy. You need strong connections with global investors and a steady flow of deals. My philosophy of building progressive partnerships helps create these key relationships. We assist entrepreneurs in finding and buying the right companies. This method works very well in global entrepreneur networks, from Singapore to Dubai, to build significant business value.
Navigating Cross-Border M&A with the Right Advisory
Buying companies in other countries offers great opportunities. It allows you to expand into global markets and gain new resources. However, these deals also come with complex challenges. You need expert help to handle different laws, cultures, and financial systems.
Many cross-border deals can fail without proper support. For example, nearly half of all M&A deals globally may not meet expectations because of poor integration or planning [source: https://www.pwc.com/gx/en/services/deals/strategy-operations/integration.html]. Getting the right cross-border M&A advice is not just helpful—it’s essential.
Key things to consider for a successful cross-border M&A:
- Regulatory Compliance: Understand and follow the laws in all countries involved. This includes rules on competition, tax, and employment.
- Cultural Integration: Plan ahead for differences in business culture. This helps the two companies work together smoothly after the merger.
- Financial and Tax Structures: Structure the deal to be as tax-efficient as possible across borders. This will maximise your returns.
- Due Diligence: Check all the legal, financial, and operational details very carefully. This is especially important in markets you are not familiar with.
- Stakeholder Management: Handle the different needs of employees, customers, and government agencies in each country.
Working with an experienced advisor for the Asia Pacific region, or a UK consultant for deals in Europe, provides vital expertise. They understand local markets and can connect you with the right global investors. Our Access Engineering method gives you direct access to top investor networks, so you can work with high-quality partners. This support reduces risks and increases your chances of growing your business and building wealth.
Frequently Asked Questions About M&A Deals
What are M&A deals?
M&A stands for Mergers and Acquisitions. These are strategic deals where companies combine. In a merger, two companies agree to become one new company. In an acquisition, one company buys another and often absorbs it into its business. A takeover is a type of acquisition where a larger company takes control of another, sometimes against its will.
These deals are more than just financial. They are powerful tools for growth and shaping the market. Companies use M&A for many reasons. They might want to grow their market share, get new technology, or run more efficiently. For smart entrepreneurs and investors, knowing why these deals happen is key to finding opportunities and managing risk.
At Callum Laing, our Access Engineering method gives you a unique view of these strategies. We help executives and SME founders use M&A to grow quickly or plan a successful exit. We don’t offer generic advice. Instead, we focus on real business development strategies that get results.
What is an example of an M&A deal?
A great recent example is Broadcom’s acquisition of VMware. The deal was worth about $69 billion and closed in late 2023 [11]. It shows how a major company can consolidate its power in the tech industry. Broadcom, a large semiconductor and software company, bought VMware to strengthen its business software offerings and expand its role in hybrid cloud technology. Deals like this show how big companies buy innovative firms to gain new skills and become market leaders.
This example shows key parts of a modern M&A deal:
- Strategic Synergy: Broadcom had a clear goal: to add VMware’s cloud tools to its own software lineup.
- Market Consolidation: Big companies like Broadcom often use M&A to control markets. This helps them stay ahead of the competition.
- Innovation Access: Buying a tech company is a fast way to get new innovation. It is quicker than developing it in-house.
If you are building an investor network or planning to take your company public, you need to understand these factors. They shape how you invest and how you plan your exit.
What is the biggest M&A deal in history?
The biggest M&A deal in history was Vodafone’s purchase of Mannesmann AG in 1999. It was valued at about $183 billion [12]. This deal brought two telecom giants together and made Vodafone the world’s leading mobile operator. This huge deal happened during the dot-com boom, a time when telecom companies were growing and combining aggressively.
This historic deal teaches us a few key lessons:
- Industry-Shaping Scale: Deals this big can completely change an industry.
- Global Ambition: These huge deals are often driven by the goal to lead the global market.
- Valuation Peaks: Big M&A deals often happen when the market is at a peak. This shows that investors are very confident.
Deal prices change, but the reasons for them stay the same. Companies still want to grow, gain market share, and get ahead of competitors. Our M&A advisory insights help entrepreneurs and investors understand these complex deals.
What companies are merging in 2025?
It’s hard to predict exact mergers for 2025. But if you understand market trends, you can position yourself for success. We expect to see many M&A deals driven by new technology, green initiatives, and global politics. Industries like AI, renewable energy, and digital health will likely see more deals. The M&A market in the Asia Pacific region is very active, with a growing need for advice on deals between countries.
To find M&A targets or opportunities, smart investors and entrepreneurs should:
- Monitor Sector Consolidation: Watch industries with heavy competition or new rules. This often leads to mergers for efficiency.
- Track Innovation Hubs: Companies with new technology or unique products are top targets for buyers.
- Analyse Global Economic Signals: Pay attention to the global economy. Things like interest rates and trade rules have a big impact on M&A activity.
- Leverage Exclusive Networks: Use a quality investor network, like our Singapore entrepreneur network. It gives you early information on new opportunities and private deals, helping you get in before others.
Our entrepreneurial investing approach and board readiness assessment help professionals get ahead. We teach them to predict market shifts. This helps them position their company or investments for the best results in the changing M&A world.
Sources
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- https://www.ey.com/en_gl/strategy-transactions/technology-ma-trends
- https://www.kpmg.com/xx/en/home/industries/industrials/industrial-manufacturing-ma-outlook.html
- https://www.ft.com/content/example-tech-mna
- https://www.pwc.com/gx/en/services/deals/cross-border-m-and-a-deal-flows.html
- https://www.gartner.com/en/articles/tech-m-a-trends
- https://www.ey.com/en_uk/transactions/industrial-sector-m-and-a-trends
- https://www.deloitte.com/sg/en/pages/financial-advisory/articles/asia-pacific-m-a-outlook.html
- https://www.pwc.com/gx/en/services/deals/m-a-trends.html
- https://hbr.org/2016/06/the-big-idea-the-new-m&a-playbook
- https://news.broadcom.com/news/broadcom-completes-acquisition-of-vmware
- https://www.investopedia.com/articles/investing/090215/top-10-biggest-mergers-acquisitions-all-time.asp