During 2025, the largest deal in the IoT space had a disclosed deal value of $9B, as Clario, a creator of medical-grade wearable sensors with AI-powered software, was bought by life sciences company Thermo Fisher Scientific in October to enhance its digital and AI capabilities.  

Another large M&A transaction in the IoT sector occurred in the security segment with digital workflow solutions provider ServiceNow picking up AIoT cybersecurity solution provider Armis for $7.3B in December to expand its security portfolio. 

In December, Solar Drone, an AI-driven autonomous aerial robotic system operator based in Israel, was picked up by American defense technology company VisionWave for $17.7M to strengthen its position in the defense and autonomous robotics market. 

IPEC, a UK-based provider of electrical diagnostics systems, was picked up by Swiss buyer ABB to enhance its capabilities in the electrification space. 

Aquabyte, a US-based developer of IoT-connected underwater cameras with built-in sensors, was picked up by UK-based Private Equity firm Vitruvian Partners to expand its food systems technology portfolio.