2022 M&A ReportPublication
Recent M&A Transactions: 2022
Life Sciences Transactions
- Disarm Therapeutics in its acquisition by Eli Lilly for up to $1.225 billion
- Emisphere Technologies (special committee) in its acquisition by Novo Nordisk for $1.8 billion
- Exonics Therapeutics in its acquisition by Vertex Pharmaceuticals for up to $1 billion
- Forendo Pharma in its acquisition by Organon for $954 million
- General Catalyst in the merger of Livongo and Teladoc Health, valued at $18.5 billion, and the sale of its portfolio company Clarabridge for $1.125 billion
- PerkinElmer in its acquisitions of BioLegend for $5.25 billion and Oxford Immunotec for $591 million
- The Tecan Group in its acquisition of Paramit Corporation for $1 billion
- Thermo Fisher Scientific in its acquisitions of Propel Labs for $220 million, Gatan for $925 million, Finesse Solutions for $221 million, Phadia for $3.5 billion and the Alfa Aesar research chemicals business of Johnson Matthey for $405 million, and sales of its anatomical pathology business to PHC Holdings Corporation for $1.1 billion and its cell culture, gene modulation and magnetic beads businesses to GE Healthcare for $1.06 billion
- Tidal Therapeutics in its acquisition by Sanofi for $470 million
- ZebiAI Therapeutics in its acquisition by Relay Therapeutics for $270 million
- Acacia Communications in its acquisition by Cisco Systems for $4.5 billion
- Affirmed Networks in its acquisition by Microsoft for $1.4 billion
- Akamai Technologies in its acquisitions of Linode for $900 million, Guardicore for $600 million, Janrain for $125 million, Codemate for $107.5 million and Prolexic Technologies for $403 million
- Altiostar Networks in its acquisition by Rakuten Group for $1 billion
- Analogic Corporation in its acquisition by Altaris Capital Partners for $1.1 billion
- Endurance in its acquisition by affiliates of Clearlake Capital Group for $3 billion
- Fortive in its acquisitions of ServiceChannel for $1.2 billion, Gordian for $775 million and Prüftechnik Dieter Busch (undisclosed)
- Genpact in its acquisition of RAGE Frameworks for $125 million
- MKS Instruments in its acquisitions of Electro Scientific Industries for $1 billion and Newport Corporation for $980 million, and its proposed acquisition of Coherent for $6.1 billion
- Progress Software in its acquisitions of Kemp Technologies for $258 million, Ipswitch, Inc. for $225 million and Chef for $220 million
- Rudolph Technologies in its merger with Nanometrics Incorporated, valued at $1.7 billion
- SLD Laser in its acquisition by Kyocera (undisclosed)
- TechTarget in its acquisition of BrightTALK Limited for $150 million
Financial Services and FinTech Transactions
- Bottomline Technologies (co-counsel) in its pending acquisition by Thoma Bravo for $2.6 billion
- Eaton Vance in is acquisition by Morgan Stanley for $7 billion
- Robinhood in its acquisition of Say Technologies for $140 million
- SoFi in its acquisition of Galileo Financial Technologies for $1.2 billion
- WEX in its acquisitions of benefitexpress for $275 million, Noventis for $310 million, Electronic Funds Source for $1.4 billion, eNett International (Jersey) Limited and Optal Limited for $1.275 billion, and certain health savings account assets of Healthcare Bank, a division of Bell Bank, for $250 million
Industrial and Other Transactions
- Houghton Mifflin Harcourt in the divestiture of its HMH Books & Media business for $349 million, the sale of Riverside clinical and standardized testing business to Alpine Investors for $140 million and its acquisition by affiliates of Veritas Capital for $2.8 billion
- Kadant in its acquisition of Syntron Material Handling Group and certain of its affiliates for $179 million
- Lion Semiconductor in its acquisition by Cirrus Logic for $335 million
- Lydall in its acquisition of Interface Performance Materials for $265 million
- Spectris in its acquisition of Concurrent Real-Time for $166.7 million
- Staples in its acquisition by Sycamore Partners for $6.9 billion
- Vail Resorts in its acquisitions of Triple Peaks for $237 million and Peak Resorts for $264 million
- Xpress Natural Gas LLC in its sale to Basalt Infrastructure Partners (undisclosed)
SPAC TransactionsRepresenting private companies, underwriters, financial advisors, placement agents and private equity, venture capital, family offices and other investors in SPAC transactions and SPAC-related PIPEs and other investments, including in the following transactions: Altimeter Capital Management/Grab Holdings, valued at $39.6 billion; Amplitude Healthcare Acquisition Corporation/Jasper Therapeutics, valued $475 million; Thoma Bravo Advantage/ironSource; Longview Acquisition/Butterfly Network; Vesper Acquisition/Hydrafacial; Falcon Capital/Sharecare; HighCape/Quantum SI; and the SPAC IPOs of Jackson Acquisition Company and Crescera Capital.
Among the Top Leading Mergers & Acquisitions Practices in Massachusetts and Washington DC
Recommended for Mergers & Acquisitions
The Legal 500 United States
Recognized as a Top Mergers & Acquisitions Practice
U.S. News – Best Lawyers
- Chambers USA: America’s Leading Lawyers for Business – Named our Corporate Practice among the best in 2020–2022 editions, with sources saying that WilmerHale provides “excellent service and quality advice and representation” and is “very knowledgeable” with “a deep wealth of information on matters impacting rapidly growing venture-backed startups.” In the most recent edition, Chambers USA also ranked WilmerHale in the following related regions and practices: nationwide for Startups & Emerging Companies; California for Venture Capital; Massachusetts for Corporate/M&A, Private Equity: Venture Capital Investment and Technology; and Washington DC for Corporate/M&A & Private Equity. WilmerHale was also ranked among the top FinTech law firms in the United States in its 2020 FinTech guide.
- The Legal 500 United States – Recommended WilmerHale’s Mergers and Acquisitions practice for our work in the area of M&A: middle-market ($500M–999M) in its 2010–2022 editions.
- The Deal Awards – Recognized on the 2021 Financial Services Deal of the Year (Large Cap) shortlist for “Morgan Stanley adds Eaton Vance,” and the Financial Technology Deal of the Year (Large Cap) shortlist for “Social Finance adds developer Galileo Financial.”
- The American Lawyer – Named WilmerHale the 2020 Law Firm of the Year, and recognized the firm's representation of Hilton Worldwide Holdings in its $6.5 billion investment by HNA Group as the 2017 Global Finance Deal of the Year under the Acquisition Finance category.
- The M&A Advisor – Honored WilmerHale with the Chapter 11 Reorganization Award in 2019 for its work in advising Argos Therapeutics in an asset sale, and previously honored WilmerHale with the 2017 Deal of the Year award for representing Analog Devices.
- U.S. News - Best Lawyers® – In the 2010–2022 “Best Law Firms” rankings, our Corporate, Mergers and Acquisitions, and Venture Capital Practices were ranked in the first tier nationally and in Boston, along with our Corporate Practice also being ranked in the first tier in New York and Washington DC. Clients deemed our M&A Practice an “extremely dedicated team that was fully versed with the issues faced and provided excellent analysis and advice in a timely manner.” Our Technology Practice was also ranked in the first tier in Boston and in the second tier nationally.
- Corporate Board Member – In 2014, 2016 and 2018, WilmerHale was named to the Top National Corporate Law Firms list, a comprehensive ranking of the top 25 firms in the nation. Results are based on law firm surveys and feedback from thousands of directors and general counsels.
- Law360 – For three consecutive years, named WilmerHale a Technology Practice Group of the Year, an award recognizing the firm’s key role in the significant matters that made headlines and changed the legal landscape. WilmerHale was also named a Massachusetts Powerhouse for 2021, citing “major mergers and acquisitions, including guiding Eaton Vance in its $7 billion acquisition by Morgan Stanley.”
- Super Lawyers – Our corporate lawyers are consistently recognized as “Super Lawyers” and “Rising Stars” in multiple jurisdictions.
- The International Financial Law Review – Named WilmerHale to its shortlist of nominees for its 2018 Deals of the Year Award.
- Chambers Global – Recognized 32 WilmerHale lawyers and 27 practice areas in its 2021 edition.
- Best Lawyers in America – Recognized 129 WilmerHale partners for 2021, naming eight as “Lawyers of the Year.”
- LMG Life Sciences United States – Recommended WilmerHale’s Mergers & Acquisitions Practice, naming WilmerHale the Life Cycle Firm of the Year in 2017–2022.