{
  "meta": {
    "source": "Windsor Drake Market Intelligence",
    "description": "Sourced lower-middle-market technology M&A transactions tracked by Windsor Drake, a sell-side M&A advisory firm.",
    "url": "https://windsordrake.com/market-intelligence",
    "cite_as": "Windsor Drake Market Intelligence (windsordrake.com)",
    "license": "Free to use with attribution to Windsor Drake.",
    "generated": "2026-08-18T02:02:50.831Z",
    "count": 483
  },
  "transactions": [
    {
      "deal": "Datavault AI acquires CyberCatch",
      "target": "CyberCatch",
      "acquirer": "Datavault AI",
      "acquirerType": "Strategic",
      "subSector": "Regtech / KYC / AML",
      "dealValueUSD": 94500000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-17",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/cybercatch-datavault-ai-2026"
    },
    {
      "deal": "Citi acquires rewards fintech Kard",
      "target": "rewards fintech Kard",
      "acquirer": "Citi",
      "acquirerType": "Strategic",
      "subSector": "Card Issuing",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-17",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/rewards-fintech-kard-citi-2026"
    },
    {
      "deal": "Stripe acquires AI gateway startup",
      "target": "AI gateway startup",
      "acquirer": "Stripe",
      "acquirerType": "Strategic",
      "subSector": "B2B Payments",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-17",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/ai-gateway-startup-stripe-2026"
    },
    {
      "deal": "Western Union acquires Intermax",
      "target": "Intermax",
      "acquirer": "Western Union",
      "acquirerType": "Strategic",
      "subSector": "PAD/ACH & Bank Rails",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-17",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/intermax-western-union-2026"
    },
    {
      "deal": "Inszone acquires Hocker Family Insurance",
      "target": "Hocker Family Insurance",
      "acquirer": "Inszone",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-15",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/hocker-family-insurance-inszone-2026"
    },
    {
      "deal": "Citi Plans acquires Kard",
      "target": "Kard",
      "acquirer": "Citi Plans",
      "acquirerType": "Strategic",
      "subSector": "Card Issuing",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/kard-citi-plans-2026"
    },
    {
      "deal": "Citigroup's Consumer Cards acquires fintech Kard",
      "target": "fintech Kard",
      "acquirer": "Citigroup's Consumer Cards",
      "acquirerType": "Strategic",
      "subSector": "Card Issuing",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/fintech-kard-citigroup-s-consumer-cards-2026"
    },
    {
      "deal": "adesso acquires claims automation startup omni",
      "target": "claims automation startup omni",
      "acquirer": "adesso",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/claims-automation-startup-omni-adesso-2026"
    },
    {
      "deal": "WCF Insurance acquires Work First Casualty",
      "target": "Work First Casualty",
      "acquirer": "WCF Insurance",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/work-first-casualty-wcf-insurance-2026"
    },
    {
      "deal": "Amynta Group acquires Southern States' insurance ops",
      "target": "Southern States' insurance ops",
      "acquirer": "Amynta Group",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/southern-states-insurance-ops-amynta-group-2026"
    },
    {
      "deal": "Daybright Financial acquires ACAPrime",
      "target": "ACAPrime",
      "acquirer": "Daybright Financial",
      "acquirerType": "Strategic",
      "subSector": "Regtech / KYC / AML",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-13",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/acaprime-daybright-financial-2026"
    },
    {
      "deal": "Accelerant to be acquires by Thoma Bravo",
      "target": "by Thoma Bravo",
      "acquirer": "Accelerant to be",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-13",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/by-thoma-bravo-accelerant-to-be-2026"
    },
    {
      "deal": "Amynta Group / Southern States Insurance Operations 2026",
      "target": "Southern States Insurance Operations",
      "acquirer": "Amynta Group",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/southern-states-insurance-operations-amynta-group-2026"
    },
    {
      "deal": "Nasdaq acquires ATS LeveL Markets",
      "target": "ATS LeveL Markets",
      "acquirer": "Nasdaq",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/ats-level-markets-nasdaq-2026"
    },
    {
      "deal": "Amynta Group Announces Agreement acquires Southern States Insurance Operations",
      "target": "Southern States Insurance Operations",
      "acquirer": "Amynta Group Announces Agreement",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/southern-states-insurance-operations-amynta-group-announces-agreement-2026"
    },
    {
      "deal": "Goldman Sachs acquires ETF provider NEOS",
      "target": "ETF provider NEOS",
      "acquirer": "Goldman Sachs",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": 2250000000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/etf-provider-neos-goldman-sachs-2026"
    },
    {
      "deal": "eToro acquires TradeZero",
      "target": "TradeZero",
      "acquirer": "eToro",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": 231000000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/tradezero-etoro-2026"
    },
    {
      "deal": "Francisco Partners acquires Canadian payments provider Moneris",
      "target": "Canadian payments provider Moneris",
      "acquirer": "Francisco Partners",
      "acquirerType": "Strategic",
      "subSector": "B2B Payments",
      "dealValueUSD": 1400000000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-12",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/canadian-payments-provider-moneris-francisco-partners-2026"
    },
    {
      "deal": "AvenuesAI / Nueromind Technologies 2026",
      "target": "Nueromind Technologies",
      "acquirer": "AvenuesAI",
      "acquirerType": "Strategic",
      "subSector": "Identity / Fraud",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-11",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/nueromind-technologies-avenuesai-2026"
    },
    {
      "deal": "Cleversoft acquires FS Assist",
      "target": "FS Assist",
      "acquirer": "Cleversoft",
      "acquirerType": "Strategic",
      "subSector": "Regtech / KYC / AML",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-11",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/fs-assist-cleversoft-2026"
    },
    {
      "deal": "Marsh McLennan Agency acquires The Accel Group",
      "target": "The Accel Group",
      "acquirer": "Marsh McLennan Agency",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-10",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/the-accel-group-marsh-mclennan-agency-2026"
    },
    {
      "deal": "Francisco Partners acquires Moneris",
      "target": "Moneris",
      "acquirer": "Francisco Partners",
      "acquirerType": "Strategic",
      "subSector": "B2B Payments",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-10",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/moneris-francisco-partners-2026"
    },
    {
      "deal": "FM acquires FortressFire",
      "target": "FortressFire",
      "acquirer": "FM",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-10",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/fortressfire-fm-2026"
    },
    {
      "deal": "Inszone acquires Washington employee benefits agency Radwick & Lightle",
      "target": "Washington employee benefits agency Radwick & Lightle",
      "acquirer": "Inszone",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-08",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/washington-employee-benefits-agency-radwick-lightle-inszone-2026"
    },
    {
      "deal": "Westland Insurance acquires Interior Savings Insurance",
      "target": "Interior Savings Insurance",
      "acquirer": "Westland Insurance",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-06",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/interior-savings-insurance-westland-insurance-2026"
    },
    {
      "deal": "Federated Mutual Insurance Company acquires High Definition Vehicle Insurance",
      "target": "High Definition Vehicle Insurance",
      "acquirer": "Federated Mutual Insurance Company",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-06",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/by-federated-mutual-insurance-company-high-definition-vehicle-insurance-2026"
    },
    {
      "deal": "Creditinfo Group acquires EveryData Group",
      "target": "EveryData Group",
      "acquirer": "Creditinfo Group",
      "acquirerType": "Strategic",
      "subSector": "Financial Data / Open Banking",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-06",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/everydata-group-creditinfo-group-2026"
    },
    {
      "deal": "Ascensus acquires AmericanTCS",
      "target": "AmericanTCS",
      "acquirer": "Ascensus",
      "acquirerType": "Strategic",
      "subSector": "Treasury / Cash Management",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-05",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/americantcs-ascensus-2026"
    },
    {
      "deal": "Arthur J. Gallagher & Co. acquires Apollo Insurance Solutions Ltd",
      "target": "Apollo Insurance Solutions Ltd",
      "acquirer": "Arthur J. Gallagher & Co.",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-05",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/apollo-insurance-solutions-ltd-co-2026"
    },
    {
      "deal": "Visa acquires BioCatch",
      "target": "BioCatch",
      "acquirer": "Visa",
      "acquirerType": "Strategic",
      "subSector": "Identity / Fraud",
      "dealValueUSD": 2400000000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-08-04",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/the-data-payment-fraud-is-moving-upstream-and-visa-just-2026"
    },
    {
      "deal": "Zedcrest Group / Leatherback 2026",
      "target": "Leatherback",
      "acquirer": "Zedcrest Group",
      "acquirerType": "Strategic",
      "subSector": "Embedded Finance",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-31",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/leatherback-zedcrest-group-2026"
    },
    {
      "deal": "Okta acquires Permiso Security",
      "target": "Permiso Security",
      "acquirer": "Okta",
      "acquirerType": "Strategic",
      "subSector": "Identity / Fraud",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-31",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/permiso-security-okta-2026"
    },
    {
      "deal": "ATIF Holdings Limited acquires GoldCoin Labs Limited",
      "target": "GoldCoin Labs Limited",
      "acquirer": "ATIF Holdings Limited",
      "acquirerType": "Strategic",
      "subSector": "Crypto / Stablecoin",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-31",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/goldcoin-labs-limited-atif-holdings-limited-enters-into-definitive-agreement-2026"
    },
    {
      "deal": "ICE acquires MarketAxess",
      "target": "MarketAxess",
      "acquirer": "ICE",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": 5700000000,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-30",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/marketaxess-ice-2026"
    },
    {
      "deal": "Darragh Buckley (Increase founder) acquires Twin City Bancorp",
      "target": "Twin City Bancorp",
      "acquirer": "Darragh Buckley (Increase founder)",
      "acquirerType": "Strategic",
      "subSector": "B2B Payments",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-30",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/a-bank-founder-of-fintech-increase-2026"
    },
    {
      "deal": "Equals acquires OFX",
      "target": "OFX",
      "acquirer": "Equals",
      "acquirerType": "Strategic",
      "subSector": "B2B Payments",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-30",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/ofx-equals-2026"
    },
    {
      "deal": "Bloomberg acquires Canoe Intelligence",
      "target": "Canoe Intelligence",
      "acquirer": "Bloomberg",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-29",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/canoe-intelligence-bloomberg-2026"
    },
    {
      "deal": "Objectway / SLIB 2026",
      "target": "SLIB",
      "acquirer": "Objectway",
      "acquirerType": "Strategic",
      "subSector": "Wealthtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-27",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/slib-objectway-2026"
    },
    {
      "deal": "Pepkor / Shop2Shop 2026",
      "target": "Shop2Shop",
      "acquirer": "Pepkor",
      "acquirerType": "Strategic",
      "subSector": "Treasury / Cash Management",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-23",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/shop2shop-pepkor-2026"
    },
    {
      "deal": "OSL Group / Banxa 2026",
      "target": "Banxa",
      "acquirer": "OSL Group",
      "acquirerType": "Strategic",
      "subSector": "Crypto / Digital Assets",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-22",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/banxa-osl-group-2026"
    },
    {
      "deal": "FinWise Bancorp / Tallied 2026",
      "target": "Tallied Technologies",
      "acquirer": "FinWise Bancorp",
      "acquirerType": "Strategic",
      "subSector": "Card Issuing",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-20",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/tallied-technologies-finwise-bancorp-2026"
    },
    {
      "deal": "TRG Screen acquires BST America",
      "target": "BST America",
      "acquirer": "TRG Screen",
      "acquirerType": "Strategic",
      "subSector": "Financial Data / Open Banking",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-16",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/bst-america-trg-screen-2026"
    },
    {
      "deal": "FalconX acquires bloXroute",
      "target": "bloXroute",
      "acquirer": "FalconX",
      "acquirerType": "Strategic",
      "subSector": "Capital Markets Tech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-15",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/bloxroute-falconx-2026"
    },
    {
      "deal": "QDM International acquires MCM Wealth Management",
      "target": "MCM Wealth Management",
      "acquirer": "QDM International",
      "acquirerType": "Strategic",
      "subSector": "Insurtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-15",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/hong-kong-insurance-brokerage-mcm-wealth-management-qdm-international-2026"
    },
    {
      "deal": "Creative Planning acquires Lovell Insurance Group",
      "target": "Lovell Insurance Group",
      "acquirer": "Creative Planning",
      "acquirerType": "Strategic",
      "subSector": "Wealthtech",
      "dealValueUSD": null,
      "evRevenue": null,
      "evEBITDA": null,
      "announcementDate": "2026-07-14",
      "targetHQCountry": null,
      "url": "https://windsordrake.com/market-intelligence/transactions/lovell-insurance-group-creative-planning-2026"
    },
    {
      "deal": "Youxin Technology / RiverBit 2026",
      "target": "RiverBit",
      "acquirer": "Youxin Technology",
      "acquirerType": "Strategic",
      "subSector": "Crypto / Digital Assets",
      "dealValueUSD": 20000000,
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      "url": "https://windsordrake.com/market-intelligence/transactions/roper-vertafore-2020"
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    {
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      "deal": "Hippo / Spinnaker 2020",
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    {
      "deal": "Equity Group / BCDC Bank 2020",
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    },
    {
      "deal": "Allstate / National General 2021",
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    {
      "deal": "Empower / Personal Capital 2020",
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    {
      "deal": "Mastercard / Finicity 2020",
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    {
      "deal": "SoFi / Galileo 2020",
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      "url": "https://windsordrake.com/market-intelligence/transactions/sofi-galileo-2020"
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    {
      "deal": "Tink / Eurobits Technologies 2020",
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    },
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      "deal": "Morgan Stanley / E*Trade 2020",
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    },
    {
      "deal": "ICE / Bridge2 Solutions 2020",
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    },
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    {
      "deal": "PayPal / Honey 2020",
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}