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M&A News: Global M&A Deals Week of December 29, 2025 to January 4, 2026
- IMAA
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Between December 29 and January 4, the global mergers and acquisitions (M&A) market recorded 270 announced transactions with an aggregate deal value of USD 14.84 billion. Among these, seven transactions exceeded USD 500 million, together accounting for USD 10.64 billion, or roughly 72% of total deal value for the period.
The week’s standout transaction was SoftBank Group’s approximately USD 4 billion acquisition of DigitalBridge Group, reflecting SoftBank’s push to strengthen its exposure to artificial intelligence and digital infrastructure. As AI adoption accelerates across industries, demand for scalable compute, connectivity, and supporting infrastructure continues to rise. DigitalBridge, a specialist investor and operator in assets such as data centers, cell towers, and fiber networks, brings infrastructure expertise that is expected to support SoftBank’s ambition to develop and finance next-generation AI platforms and services.
On a week-on-week basis, M&A activity moderated as deal volume declined by 36%, falling from 424 to 270 transactions. Total deal value also dropped sharply by 73%, from USD 54.66 billion to USD 14.84 billion, reflecting a slowdown typically observed during the transition from year-end into the early weeks of the new year.
Top 5 M&A Deals for the Week
Here are the top 5 M&A Deals for the week of December 29, 2025 to January 4, 2026 in detail:
Deal No. 1: SoftBank Group Corp. to Acquire DigitalBridge Group, Inc. for USD 4.08 Billion
Deal No. 2: Meta Platforms, Inc. to Acquire Butterfly Effect Pte. Ltd. (doing business as Manus) for USD 2.00 Billion
Deal No. 3: BGH Capital to Acquire Aspen Asia Pacific (excluding China) for USD 1.59 Billion
Deal No. 4: TransDigm Group Incorporated to Acquire Stellant Systems, Inc. for USD 960 Million
Deal No. 5: Devyani International Limited to Acquire Sapphire Foods India Limited for USD 934 Million
Deal No. 1:
SoftBank Group Corp. to Acquire DigitalBridge Group, Inc. for USD 4.08 Billion
Japan’s SoftBank Group has agreed to acquire DigitalBridge Group in a transaction valued at approximately USD 4.08 billion, reinforcing its strategic focus on artificial intelligence–driven growth. The move aligns with SoftBank Group’s broader ambition to secure and scale the infrastructure required to support next-generation AI technologies.
DigitalBridge is a global investment firm specializing in digital infrastructure, with assets spanning data centers, cell towers, fiber networks, small cells, and edge infrastructure. The firm works with operating partners and institutional investors worldwide, pursuing long-term investments that are underpinned by structural demand for data, cloud computing, and mobile connectivity.
The acquisition is expected to strengthen SoftBank Group’s capacity to originate, finance, and scale the physical infrastructure underpinning next-generation AI services. By integrating DigitalBridge’s operational expertise and diversified global portfolio, SoftBank Group aims to enhance access to essential connectivity and computing capacity, supporting AI workloads at scale and reinforcing the infrastructure layer critical to AI performance and reliability.
The transaction is expected to close in the second half of 2026. Following completion, DigitalBridge will continue to operate as a separately managed platform, maintaining its existing investment strategy while benefiting from SoftBank Group’s capital resources and strategic direction.
Deal No. 2:
Meta Platforms, Inc. to Acquire Butterfly Effect Pte. Ltd. (doing business as Manus) for USD 2.00 Billion
Meta Platforms has announced the acquisition of Singapore-based AI startup Manus AI in a transaction valued at approximately USD 2 billion, as it looks to expand automation capabilities across its consumer and enterprise offerings.
Founded in China, Manus AI has gained recognition for developing autonomous AI agents that can plan, execute, and complete complex tasks with minimal human input. Unlike traditional conversational systems, its technology supports end-to-end workflows across functions such as research, data analysis, software development, and operational automation, reflecting the industry’s shift toward more agent-driven AI systems.
Under the deal, Meta plans to keep Manus AI operating as an independent unit while integrating its agent technology into platforms including Facebook, Instagram, and WhatsApp, where Meta AI is already deployed. The acquisition aligns with Meta’s broader AI strategy of acquiring specialized startups to accelerate product development, strengthen talent depth, and support its wider AI roadmap, including continued advancement of its open-source Llama large language models.
Following completion of the transaction, Manus AI will wind down its services and operations in China, consolidating its activities under Meta’s global AI ecosystem.
Deal No. 3:
BGH Capital to Acquire Aspen Asia Pacific (excluding China) for USD 1.59 Billion
Aspen Pharmacare has agreed to divest its Asia-Pacific operations, excluding China, to BGH Capital for approximately USD 1.6 billion, as part of a strategic move to reallocate capital toward regions offering stronger long-term growth prospects.
Aspen APAC represents Aspen Pharmacare’s Asia-Pacific platform, responsible for the manufacture, marketing, and distribution of branded and generic pharmaceuticals across key markets including Australia, New Zealand, Hong Kong, Malaysia, Taiwan, and the Philippines. The transaction includes the transfer of Aspen’s regional businesses along with associated intellectual property, providing BGH Capital with a well-established pharmaceutical footprint supported by local operations and diversified product portfolios.
Consistent with Aspen’s capital allocation priorities, the net proceeds from the sale will be primarily directed toward debt reduction and balance sheet optimisation. Management expects this to lower financing costs, streamline the lender base, and enhance financial flexibility, enabling the group to concentrate more closely on its core strategic growth drivers.
Operational continuity remains a priority during the transition. Aspen APAC’s senior leadership team will continue to manage the business, with day-to-day operations, employment arrangements, and customer service standards expected to remain unchanged, ensuring stability for employees, partners, and customers.
BGH Capital has highlighted Aspen APAC’s important role in delivering essential medicines and improving health outcomes across the region, viewing the acquisition as an opportunity to invest further in the platform and support its continued expansion and development in Asia-Pacific markets.
Proposed divestment of Aspen Asia Pacific (excluding China) for R26.5 billion | Aspen Pharmacare
South Africa’s Aspen to sell major APAC operations for $1.6 billion | Reuters
Aspen to divest Asia Pacific operations in R26.5 billion value unlocking deal
Dabafinance – Aspen Sells Asia-Pacific Business To BGH Capital For $1.6Bn
Deal No. 4:
TransDigm Group Incorporated to Acquire Stellant Systems, Inc. for USD 960 Million
TransDigm Group is acquiring Stellant Systems for approximately USD 960 million, further expanding its portfolio of highly engineered electronic components for the aerospace and defense markets.
Stellant Systems designs and manufactures high-power radio frequency and microwave components and subsystems used in mission-critical applications, including space, radar, missile, and secure communications platforms. The company supplies defense agencies in the United States and allied countries and operates four advanced manufacturing sites across the U.S., totaling more than 700,000 square feet, with a workforce of about 950 employees.
The acquisition supports TransDigm’s long-term strategy of acquiring proprietary aerospace businesses with strong aftermarket characteristics. Nearly half of Stellant’s revenue is generated from aftermarket activity, underpinned by long product lifecycles and recurring demand. As defense modernization programs continue and aircraft fleets age, demand for maintenance, repair, and overhaul services remains robust, positioning Stellant’s specialized electronic solutions to contribute to sustained, long-term revenue growth.
The acquisition is expected to close in 2026, subject to customary regulatory approvals and closing conditions. Harris Williams acted as exclusive financial advisor to Stellant Systems on the transaction.
Deal No. 5:
Devyani International Limited to Acquire Sapphire Foods India Limited for USD 934 Million
Sapphire Foods India is merging with Devyani International in a share-swap transaction valued at approximately USD 934 million, paving the way for the formation of a single, scaled platform that will become the largest Yum! Brands franchisee in India.
Sapphire Foods India operates a broad portfolio of quick-service restaurants across India, Sri Lanka, and the Maldives, managing well-known global brands including KFC, Pizza Hut, and Taco Bell. Devyani International similarly runs an extensive QSR network in India and select international markets, with a strong presence across Yum! Brands’ concepts, giving the combined entity significant geographic reach and operational depth.
Following completion, Devyani International will absorb Sapphire Foods’ operations, creating one of India’s largest QSR operators by scale. The merger is expected to support the next phase of growth by enhancing store density, strengthening brand partnerships, and improving overall profitability through a larger, more integrated operating platform.
The combined group is also expected to realize cost efficiencies through consolidated procurement, improved supply chain coordination, and increased negotiating leverage with suppliers, landlords, and other key stakeholders, supporting margin expansion over the medium to long term.
This concludes our M&A news coverage of the top global mergers and acquisitions deals for the week of December 29, 2025 to January 4, 2026. For continuous and detailed insights into the evolving landscape of M&A news, we invite you to follow the Institute for Mergers, Acquisitions, and Alliances (IMAA).
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