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For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In July alone, we added more than 1,700 new private company transactions, bringing the total to over 27,900 searchable deals across sectors, industries, and transaction types in Joe powered by Dakota Marketplace.
Inside Joe, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota’s team monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 information technology transactions.
Ecolab has completed its acquisition of CoolIT Systems, a leader in direct liquid cooling for AI data centers, from KKR for approximately $4.75 billion — representing 29x estimated next 12-month adjusted EBITDA — with CoolIT's year-to-date sales growing more than 100% driven by surging demand for liquid cooling infrastructure. The deal positions Ecolab as a comprehensive end-to-end AI water and cooling solutions provider spanning ultra-pure water for chip manufacturing, water systems for power generation, and direct liquid cooling for high-density data centers, with Ecolab's Global High-Tech business now targeting $4 billion in annual sales by 2030 growing more than 25% annually.
Qualcomm has completed its acquisition of Modular Inc., a leading AI-native software infrastructure company founded by Chris Lattner, combining Modular's unified platform for optimizing and deploying generative and agentic AI workloads across heterogeneous hardware — including CPUs, GPUs, NPUs, and custom ASICs — with Qualcomm's high-performance, energy-efficient silicon leadership. The deal accelerates Qualcomm's edge-to-cloud AI strategy by creating an open, developer-friendly compute layer that enables AI to run efficiently across diverse hardware architectures without rewrites, with Mojo, MAX, and Modular Cloud continuing as products and Lattner joining as Executive Vice President of Advanced AI Software and Platforms.
Lockheed Martin has agreed to acquire Ultra Maritime, a global defense company specializing in anti-submarine warfare and undersea warfare capabilities, from Advent International's Cobham Ultra platform for $3.45 billion. The deal adds Ultra Maritime's portfolio of sonar technologies, sonobuoys, towed sonar arrays, torpedo defense systems, and autonomous maritime sensing platforms to Lockheed's Rotary and Mission Systems business area, reinforcing its undersea superiority capabilities and expanding its ability to offer exportable ASW solutions to U.S. and allied naval forces globally.
Kling AI, the generative AI video platform spun out of Kuaishou Technology, has raised approximately $2.8 billion in the largest funding round ever completed by an AI video model developer globally, led by Alibaba, Tencent, Baidu, CPE Yuanfeng, BlueFive Capital, and CITIC Securities at a post-money valuation expected to reach $18 billion once all investors close. The capital will fund Kling AI's launch as an independent entity with aggressive global expansion, research talent hiring, and infrastructure buildout as the company approaches $500 million in annualized revenue, with a standalone Hong Kong listing targeted for mid-2027.
Nscale, a full-stack AI cloud platform, has agreed to acquire Anyscale, the platform for scaling AI workloads built on Ray — the open-source standard for distributed AI applications — for approximately $1.65 billion, adding a software layer that turns raw compute into an end-to-end AI platform spanning data processing, training, inference, and reinforcement learning. The deal creates the first truly vertically integrated AI hyperscaler combining Nscale's owned power, data centers, and compute infrastructure with Anyscale's managed services used by AI teams at companies including Coinbase, Bedrock Robotics, and Runway to scale any workload across thousands of GPUs.
Want to track information technology deal activity like this as it happens? Explore the full transactions tab in Joe for real-time, filterable data on every deal in this sector.
Fireworks, the platform for specialized AI intelligence enabling companies like Uber and Shopify to train and serve custom models, has raised $1.505 billion in a Series D round led by Atreides Management, Index Ventures, and TCV at a $17.5 billion valuation, surpassing $1 billion in annualized revenue — up 5x year-over-year — with daily token volume growing from 15 trillion to over 40 trillion. The capital will expand engineering talent, global compute capacity, and cloud partnerships as 95% of tokens served through Fireworks come from specialized models, reflecting the accelerating enterprise shift from renting frontier closed models to building proprietary AI trained on their own data and workflows.
Shield AI, a San Diego-based defense technology company specializing in AI autonomy software and autonomous aircraft, has raised $1.5 billion in a Series G financing co-led by Advent International at a $12.7 billion post-money valuation, with the round including $500 million in fixed-return preferred equity and an additional $250 million delayed draw facility. The capital will fund continued development of Shield AI's Hivemind autonomy platform — selected by the U.S. Air Force for its Collaborative Combat Aircraft program and proven across 26 vehicle classes including F-16s — as well as its planned acquisition of Aechelon Technology, a high-fidelity defense simulation and synthetic reality company supporting the Pentagon's Joint Simulation Environment.
Pure Data Centres Group has secured €1.3 billion in committed senior project financing from five Mandated Lead Arrangers — SMBC, ABN AMRO, Citi, Societe Generale, and Natixis CIB — to fund Phase 1 development of its Seinäjoki AI campus in Finland, a fully leased 110MW facility representing over €1.5 billion in initial investment with the potential to scale to a 550MW+ campus worth over €7.5 billion. The latest financing brings Pure DC's total capital secured over the past 12 months to over $4.2 billion, reinforcing its position as one of Europe's fastest-growing hyperscale AI infrastructure platforms as it accelerates expansion across Europe and the Middle East.
TE Connectivity has agreed to acquire Astrodyne TDI, a leading provider of advanced power management and filtering solutions for mission-critical industrial applications, from Tinicum L.P. for approximately $1.4 billion, adding a business expected to contribute over $250 million in annual sales to its Industrial Solutions segment. The deal expands TE's power portfolio in the industrial market as the company delivers record third quarter results with 14% sales growth and 22% adjusted EPS growth, capitalizing on accelerating demand across AI data center and energy infrastructure applications.
Keyfactor, a leader in trust infrastructure for machine identity security and post-quantum cryptography, has secured a $1 billion+ strategic growth investment led by Summit Partners, with existing investors Insight Partners and Sixth Street Growth maintaining significant ownership. The investment will accelerate global expansion, product innovation, team building, and strategic acquisitions as four converging forces — AI-driven identity sprawl, shrinking certificate lifespans, tightening regulatory requirements, and post-quantum cryptography migration mandated ahead of 2030 — drive board-level urgency for the unified trust infrastructure platform that Keyfactor provides to over 2,500 customers including 50% of the largest U.S. and European banks and over 40% of Fortune 100 companies.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Joe, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Joe helps you cut through the noise and focus on what matters most.
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