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Top Highlights
Jardine Matheson, a multinational enterprise with a portfolio of businesses focused primarily on Asia and grouped into eight core companies, agreed to acquire I-MED, a healthcare provider specializing in diagnostic imaging services, from Permira Advisers, a private equity firm, for AUD3.4bn ($2.4bn), according to press releases.
I-MED is advised by Jefferies and Mallesons, according to press releases.
Heartland Growth Partners, a private investment firm backed by owner-operators of industrial companies, completed an investment in ADF Engineering, a multidisciplinary engineering and consulting firm serving clients across North America, according to press releases. Financial terms were not disclosed.
ADF Engineering was advised by Robert W Baird (led by Leo Whitt). Heartland Growth Partners was advised by Plante Moran and Vorys Sater Seymour & Pease, according to press releases.
a16z, a venture capital firm in Silicon Valley, California, led a $250m Series C round in Exa, a San Franscisco-based startup focused on building a search engine for AI agents, with participation from Benchmark, Lightspeed, and YC, according to press releases.
Exa was advised by Latham & Watkins (led by Eli Curi), according to press releases.
AMERICAS
EMEA
Uber weighs higher bid for Delivery Hero after €11.5bn offer rebuffed. ( FT)
Prosus asks EU to end forced sale of Delivery Hero stake. ( Bloomberg)
Italian state investor CDP to raise stake in payments group Nexi. ( Reuters)
APAC
SoftBank taps retail market again with JPY260bn bond. ( Press Release)
Zepto to plan June public filing for $1bn India IPO. ( Bloomberg)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
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AMERICAS
Driven Tech, a company specializing in managed IT, cybersecurity, cloud, and AI services, agreed to acquire TekBay and ADEX International, companies focused on AI engineering, data science, cloud modernization, and next‑generation AI development, according to press releases. Financial terms were not disclosed.
Driven Tech is advised by Oxford + Bond, according to press releases.
SpaceX, a private American aerospace and artificial intelligence company, agreed to acquire Colossus I, a data center located in Memphis, Tennessee, from Phoenix Investors, an expert in the acquisition, renovation, and release of former manufacturing facilities in the United States, for $185m, according to press releases.
Sonar, a company specializing in AI code verification and governance, completed the acquisition of Gitar, a platform focused on AI‑native code review and validation, according to press releases. Financial terms were not disclosed.
Ty J. Young Wealth Management, a company specializing in wealth management, retirement planning, and insurance solutions, completed the acquisition of McCarrell Insurance, an insurance firm focused on personalized guidance for clients throughout western Pennsylvania, according to press releases. Financial terms were not disclosed.
Domo Tactical Communications, a provider of advanced communications systems, completed the acquisition of Adaptive Dynamics, a developer of advanced digital signal processing and interference mitigation technologies, according to press releases. Financial terms were not disclosed.
Zscaler, a cybersecurity platform, agreed to acquire Symmetry Systems, a provider of identity mapping and data access for AI security, according to press releases. Financial terms were not disclosed.
1789 Capital, an investment firm, completed an investment in Starlab, a space station developer, according to press releases. Financial terms were not disclosed.
River Birch Global Water, a provider of clean water technologies and solutions, completed the acquisition of JEBCO Industries, a manufacturer of sheet metal fabrications, according to press releases. Financial terms were not disclosed.
EMEA
EW Healthcare Partners-backed Grundium, an advanced digital scanning firm, completed the acquisition of Visiopharm, an AI-driven precision pathology software company, according to press releases. Financial terms were not disclosed.
NVentures, NVIDIA's corporate venture capital arm, completed an investment in Alice & Bob, a French quantum computing startup, according to press releases. Financial terms were not disclosed.
Uber weighs higher bid for Delivery Hero after €11.5bn offer rebuffed. ( FT)
Uber is considering raising its takeover offer for Delivery Hero after a €38‑per‑share ($44) approach valuing the company at over €11.5bn ($13.4bn) was rejected. The company previously made an indicative offer of €33 ($38) per share.
The discussions come amid consolidation in global food delivery, with DoorDash also showing interest. Shareholders are reportedly seeking more than €40 ($46.4) per share, while Uber already holds about 19.5% of the company.
Prosus asks EU to end forced sale of Delivery Hero stake. ( Bloomberg)
Prosus has asked the European Union to remove a requirement that it sell down its stake in Delivery Hero. The condition was imposed as part of antitrust approval for Prosus’s acquisition of another food‑delivery platform.
Prosus, which owns about 17% of Delivery Hero, is seeking flexibility as Uber explores a potential takeover of the German group. Discussions with regulators remain ongoing, and there is no certainty the EU will revise the original remedy.
Italian state investor CDP to raise stake in payments group Nexi. ( Reuters)
CDP Equity plans to increase its stake in Nexi to as much as 29.9%, from about 19.1%, as the Italian state investor seeks to strengthen its position in the payments group. The move will be executed partly through derivative contracts covering 8% of Nexi’s capital, alongside potential direct share purchases.
CDP ruled out a full takeover bid, instead aiming to stabilise Nexi’s shareholder base. The company, Europe’s largest payments processor by transaction volume, has faced share‑price pressure in recent years and has attracted private‑equity interest, including from CVC Capital Partners, amid ongoing disruption in the digital payments industry.
APAC
SMBC Indonesia is looking to sell $1.1bn worth of pension loans as it tilts away from its legacy business.
The lender is selling the assets to state-owned PT Bank Tabungan Negara. The portfolio comprises loans to pensioners and pre-pensioners covered by state-owned funds PT Taspen and PT Asabri, as well as some other types of lending.
SoftBank taps retail market again with JPY260bn bond. ( Press Release)
SoftBank Group is planning to raise JPY260bn ($1.6bn) through a new issuance of subordinated bonds, targeting primarily retail investors. The offering follows a similar transaction completed about two months earlier.
The bonds will have a 35‑year maturity with a call option after five years, and are expected to price on June 5 with an initial coupon guided at 4.8%–5.6%. Proceeds are likely to support SoftBank’s broader financing and investment strategy.
Zepto to plan June public filing for $1bn India IPO. ( Bloomberg)
Zepto is preparing to publicly file for a $1bn IPO in India in the first half of June. The rapid‑delivery platform is positioning the filing as the next step toward one of the country’s largest tech listings in 2026.
The company is expected to begin investor roadshows later in June, targeting a potential IPO launch as early as July. Zepto operates in the fast‑growing quick‑commerce segment, where ultra‑fast delivery models have attracted significant investor interest but remain capital‑intensive.
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