These M&A offers spotlight how T&M distributors have revisited their M&A methods to remain resilient in unstable market situations
Mergers and acquisitions (M&As) has maybe been probably the most defining traits of the take a look at and measurement (T&M) business up to now two years.
The current offers — reflective of a broader consolidation pattern reshaping the tech business within the wake of tariff and AI — have been greater than cyclical changes. They mirror structural shifts that helped corporations keep buoyant by way of the financial turmoil that characterised this time.
Firms have been seen restructuring by way of both acquisition of latest belongings which diversified their portfolios, or offloading of unprofitable enterprise models which helped reduce losses. The purpose was to beat the income dip that got here on the tail finish of 5G and evade tariff shocks and steadiness macroeconomic uncertainty.
Here’s a look again at among the most consequential M&As of the previous two years:
- Within the midst of an aggressive funding streak, late final 12 months Nvidia acquired $2 billion stake in long-time accomplice Synopsys. The deal included a multiyear strategic partnership below which the businesses agreed to collaborate on design and engineering tasks anticipated to take industrial markets by storm.
- Synopsys’ $35 billion acquisition of engineering simulation software program firm, Ansys, simply takes the cake for probably the most high-value mergers of current occasions. Introduced in January of 2024 and closed in July of 2025, the deal expanded the digital design automation (EDA) vendor’s silicon design experience to multi-physics system simulation, making a unified platform to additional its silicon-to-systems imaginative and prescient.
- In October 2025, Synopsys agreed to promote its Optical Options Group enterprise which builds design instruments for optical engineers to Keysight, topic to regulatory approvals and completion of completion of Synopsys’ acquisition of Ansys. The deal is predicted to develop Keysight’s software program simulation portfolio, boosting its capabilities to help hihg-perofrmance system use instances.
- Keysight Applied sciences and Viavi Options’ two-way acquisition of Spirent is among the most publicized offers of final 12 months. The businesses took possession of Spirent Communications in Oct, 2025 over offers price $1.46 billion and $435 million respectively. The acquisition closed after two years following a bidding struggle and a number of other regulatory delays. The transaction helped each corporations purchase new belongings that contributed to new revenues, whereas serving to achieve new market confidence and handle dangers by way of portfolio growth. Keysight gained Spirent’s satellite tv for pc emulation and lab-to-live portfolios, constructing a extra complete suite of design, emulation, and testing options. It introduced Viavi the extremely contested high-speed Ethernet, community safety, and channel emulation testing companies, opening high-growth enterprise alternatives by way of the addition.
- Stories of a potential merger between European take a look at, inspection, and certification giants SGS and Bureau Veritas emerged early in 2025, however the events known as it off after failing to reach at an settlement. Regardless, by way of its LEAP I 28 technique centered on “portfolio, efficiency and other people,” BV has continued to make small bolt- on acquisitions — closing 9 purchases 12 months so far.
- Viavi made a strategic push into the protection automation and aerospace sector with the acquisition of navigation system supplier, Inertial Labs for $150 million in 2024. CEO, Oleg Khaykin known as the acquisition a strategic effort to deepen presence in home and worldwide aerospace and protection markets, and enter into autonomous air, land and sea programs within the navy and industrial finish markets.
- Going a bit additional again, Emerson’s acquisition of Nationwide Devices (NI) in 2023 stays one of many iconic M&As of that 12 months. Signed for the fairness worth of $8.2 billion, the deal strengthened Emerson’s place within the world market, whereas additionally enhancing its publicity to discrete markets, like nearshoring, sustainability, and decarbonization.
