Startup Life/Funding/News/ Tech startup M&A picks up in the downturn A regularly updated list of mergers and acquisitions in the European tech sector By Sifted reporters 13 June 2022 \Startup Life Series A funding for startups: What VCs want to see from founders in 2023 By Aruni Sunil 3 February 2023 Startup Life/Funding/News/ Tech startup M&A picks up in the downturn A regularly updated list of mergers and acquisitions in the European tech sector By Sifted reporters 13 June 2022 It’s an unfortunate time to be out raising funding — startup valuations have taken a hit, investors aren’t writing cheques as eagerly and companies that burn a lot of capital each month are looking increasingly unappetising. Several startups are shopping around for a buyer instead — and some bigger companies with deep pockets are scouting for bargains. German fashion online retailer Zalando has become the latest big name to get its wallet out, having acquired lifestyle and fashion brand Highsnobiety, In May online boutique shop marketplace Trouva was acquired by online home platform Made.com, while other European unicorns like Personio, Paddle, Flink, and bunq also made acquisitions. Here, we list the top mergers and acquisitions that have taken place in Europe since May 2022. The list is based on data from Dealroom, and excludes any startups founded before 2005. We’ll keep updating it — please let us know if we’ve missed any catchy deals. The M&A list Gaming Acquired company: From the Bench — Mobile game development studio founded in 2008 HQ location: Alicante, Spain Who bought it? TappX — Barcelona-based digital advertising software company Who was on the cap table? Caixa Capital Risc, Bonsai Venture Capital — Acquired company: GamerzClass — e-learning products for aspiring esports players HQ location: Copenhagen, Denmark Who bought it? Metafy — LA-based online gaming coaching portal, founded in 2020 Who was on the cap table? Jesper Vesten Drescher, VF Venture, 500 Global, Bumble Ventures, TrueSight Ventures, Ben Holmes, ByFounders, Morten E Wulff, Dreamcraft Ventures SaaS Acquired company: Quentic — software for occupational safety, environmental management and sustainability HQ location: Berlin, Germany Who bought it? Advanced Manufacturing Control Systems — Ireland-based software company, founded in 2002 Who was on the cap table? High-Tech Gründerfonds, One Peak Partners, Morgan Stanley, Business Angels Club Berlin-Brandenburg, Shutterstock, Wecken & Cie, Morgan Stanley Expansion Capital, B!GRÜNDET, Maria 01 — Acquired company: AreTheyHappy — reputation management software HQ location: Ghent, Belgium Who bought it? Black Box Intelligence — Texas-based restaurant analytics provider Who was on the cap table? Diversis Capital — Acquired company: Back — employee experience software HQ location: Berlin, Germany Who bought it? Personio — Munich-based HR software company, founded in 2015 Who was on the cap table? Point Nine, Seedcamp, MH2 Capital, La Famiglia, Gradient Ventures, Charlie Songhurst, Matthias Hilpert, Renaud Visage — Acquired company: Okarito — travel management software for small businesses HQ location: Paris, France Who bought it? Swile — French scaleup offering employee benefits card and app, founded in 2016 Who was on the cap table? The Family, Kima Ventures, Axeleo Capital, Wilco, Geoffroy Roux de Bézieux — Acquired company: Futrli — business accounting and projections software HQ location: Brighton, UK Who bought it? Sage Group — UK-based multinational enterprise software company, founded in 1981 Who was on the cap table? Headline, Notion Capital, Firstminute capital, Tech Nation — Acquired company: Formulate — sales management tool using AI HQ: Stockholm, Sweden Who bought it? Relex Solutions — Finnish retail planning unicorn, which raised a €500m round in February Who was on the cap table? Bo Mattsson, DHS Venture Partners, Industrifonden, Lars Lindgren, European Innovation Council, HenQ, J12 Ventures — Acquired company: Satismaster — customer feedback platform HQ: Prague, Czech Republic Who bought it? Productboard — recent unicorn based in San Francisco and launched in Prague Who was on the cap table? CEED Tech, FIWARE, Nextech Ventures, StartupYard — Acquired company: Scortex — AI-based tool for managing quality control on industrial sites HQ: Paris, France Who bought it? TriGo, a French corporate giant providing quality inspection. TriGo have pledged to invest €5m into Scortex as part of the buyout Who was on the cap table? Agoranov, Notion Capital, Alven, Sap.io, Plug and Play, Plug and Play Insurtech, Sap.iO Foundry Munich — Acquired company: Side — a French online staffing service HQ: Paris, France Who bought it? Randstad Innovation Fund, the CVC arm of the Amsterdam-based HR multinational Randstad Who was on the cap table? Agoranov, Notion Capital, Alven, Sap.io, Plug and Play, Plug and Play Insurtech, Sap.iO Foundry Munich Consumer Acquired company: Cajoo — speedy delivery startup HQ location: Paris, France Who bought it? Flink — Berlin-based grocery delivery unicorn Who was on the cap table? Carrefour, Frst, XAnge, Headline — Acquired company: Trouva — marketplace for independent boutiques and brands HQ location: London, UK Who bought it? Made.com — UK-based homeware brand, founded in 2010 Who was on the cap table? Playfair Capital, Index Ventures, Avonmore Developments, LocalGlobe, Go Beyond Investing, Patty Dimond, Downing Ventures, Robin Klein, Octopus Ventures, Business Growth Fund, C4 Ventures, Ada Ventures, Downing LLP, Tech Nation — Acquired company: Tripadee — travel tech that lists camping and outdoor holidays in the UK and France HQ location: London, UK Who bought it? Hipcamp — the largest US-based outdoor travel holiday booking platform, which has been previously backed by Marcy Venture Partners, the investment vehicle for rapper Jay Z Fintech Acquired company: Tricount — a group expenses management app HQ location: Brussels, Belgium Who bought it? bunq — Dutch unicorn neobank. Tricount will likely start offering bunq products within its app after the merger Who was on the cap table? Belcube (Belgian seed-stage fund) — Acquired company: finAPI — an open banking API provider that leads the market in Germany HQ location: Munich, Germany Who bought it? Yapily, a British open banking startup. By buying finAPI it hopes to expand its reach in Germany, and it will almost double its customer base with the purchase Who was on the cap table? PwC accelerator — Acquired company: Profitero — an ecommerce analytics platform HQ location: Dublin, Ireland Who bought it? Publicis Groupe — French digital advertising multinational Who was on the cap table? Delta Partners, Enterprise Ireland, Polaris Partners, Episode 1 Ventures, Scaleworks. Founded in 2010, the company had raised $40m prior to acquisition. Security Acquired company: Ubble.ai — identity verification service HQ location: Paris, France Who bought it? Checkout.com — London-based fintech unicorn, and the most valuable UK startup Who was on the cap table? Partech, Kima Ventures, Breega, Bpifrance, Thomas Rebaud (founder of French unicorn Meero). — Acquired company: BehavioSec — “behavioural biometrics” cybersecurity and authentication products HQ location: Stockholm, Sweden Who bought it? LexisNexis — New York-based data analytics corporation, founded in 1970 Who was on the cap table? Conor Venture Partners, Northzone, Norrlandsfonden, Lunova, Partnerinvest Norr, PwC Accelerator, ABN AMRO, Trident Capital, Cisco Investments, Octopus Ventures, ABN AMRO Ventures, FinTech Innovation Lab, Luleå University of Technology, Plug and Play, Plug and Play Insurtech, Startup Sweden, Almi Invest — Acquired company: Hdiv Security — continuous cybersecurity vulnerability tracker HQ location: San Sebastián, Spain Who bought it? Datadog — US-based data analytics scaleup, founded in 2010 Who was on the cap table? Adara Ventures, BIND 4.0 — Basque Open Innovation Platform, StartUp Alcobendas, Telefónica Innovation Ventures, BIC Gipuzkoa, Prosegur, Wayra — Acquired company: Excellium Services — penetration testing and cyber incident response HQ location: Cotern, Luxembourg Who bought it? Thales Group — French multinational working in aerospace, defence and security Who was on the cap table? Sonae IM Renewable Energy Acquired company: Groendus — B2B renewable energy network HQ location: Utrecht, Netherlands Who bought it? Joint acquisition by Dutch pension fund APG and Canadian asset manager OMERS Infrastructure Who was on the cap table? NPM Capital Transport Acquired company: Clicars — ecommerce marketplace for second-hand cars HQ location: Madrid, Spain Who bought it? Aramis Group — French online marketplace for second-hand cars, founded in 2001 Who was on the cap table? Seaya Ventures, Inaki Berenguer, PSA Group, Luis Sanz, Pau Sabria, Startup University Ventures — Acquired company: Reby — micro-mobility and escooter service HQ location: Barcelona, Spain Who bought it? House of Lithium — California-based ebike company, founded in 2018 Who was on the cap table? 500 Global (formally 500 Startups), Exor Seeds, Fuel Capital, NEO, Abac Nest, Edward Lando, Simon Rothman, Exor, Ruben Ferreiro, Hard Yaka, House of Lithium — Acquired company: Share NOW (Formerly Car2go) — a car-sharing joint venture between Mercedes-Benz and BMW HQ Location: Stuttgart, Germany Who bought it? Stellantis — the merged Fiat-Peugeot parent company. Stellantis already has a mobility subsidiary, Free2move, which Share NOW will be rolled into Who was on the cap table? Daimler Deeptech Acquired company: Myrmex — robotics for unmanned delivery HQ location: Ilioupoli, Greece Who bought it? Ocado — listed British supermarket technology company Who was on the cap table? Odyssey Ventures L.P. — Acquired company: Metaliquid — AI-powered video analysis for data discovery HQ location: Milan, Italy Who bought it? BeMyEye — London-based data-as-a-service provider founded in 2011 Who was on the cap table? Not known — Acquired company: ProGlove — wearable barcode scanners for warehouse workers HQ location: Munich, Germany Who bought it? Nordic Capital — Stockholm-based private equity fund, founded in 1989 Who was on the cap table? Intel Capital, Bayern Kapital, GettyLab, DIVC, Summit Partners, TechFounders, Technical University Munich (TUM), Plug and Play, Plug and Play Insurtech — Acquired company: IFollow — a French startup developing autonomous robots for warehouse optimisation HQ location: Arcueil, France Who bought it? Stow Deutschland — a shelving systems developer Who was on the cap table? Axeleo Capital (AXC), WaterStart Capital (NCI), Agoranov, W2 Labs, Normandie Capital Investissement, Supernova Invest, Socadif, Bpifrance Health & Wellness Acquired company: PlusDental — invisible aligners manufacturer HQ location: Berlin, Germany Who bought it? Straumann Holding Deutschland — Swiss dental care provider Who was on the cap table? Ping An Group, HV Capital, Lakestar, Cadence Growth Capital, Jebsen Capital, Bruce Darnell, SB21 – Saarbruecker21, Elephant & Castle Capital. The acquisition was priced at €112.5m, while the company had raised €77m. — Acquired company: Wavy — Paris-based communication management company for the wellness industry HQ location: Paris, France Who bought it? Treatwell — online booking platform with five acquisitions in its history Who was on the cap table? Bpifrance, Kima Ventures. Related Articles It’s been a record quarter for European VC investment with €7bn poured into startups By Ian Hathaway Click here to read more Not a unicorn? 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