In terms of top acquirers, ABB led the pack with 3 deals followed by ServiceNow, Taggr and Indutrade, which each acquired 2 IoT companies.

There were 175 deals during the first nine months of 2024, with strong demand from both strategic and financial buyers. PE firms represented the acquirer in 23% of these transactions.  

Disclosed deal value reached $12.1B by the end of Q3. Only 15% of transactions disclosed their deal values as buyers continued to guard the details and strategies behind their acquisitions. The median disclosed M&A transaction value was $39M.