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8.26.26
Wilson Sonsini Advises Altruist on Acquisition by Vanguard
On August 26, 2026, Vanguard and Altruist, an AI-forward wealth technology and custody platform serving financial advisors, announced that they have entered into a definitive agreement under which Vanguard will acquire Altruist. Wilson Sonsini Goodrich & Rosati is advising Altruist on the transaction.
Alerts
8.25.26
Seismic and Highspot Obtain Merger Clearance After Targeted Review Shows Rising Competition from AI in Sales Enablement Software
On Wednesday, August 19, 2026, the U.S. Department of Justice (DOJ) announced that it had closed its investigation into the merger between Seismic Software, Inc. and Wilson Sonsini client Highspot Inc., both of which offer sales enablement software platforms to businesses. The merger, announced in February 2026, created a combined company focusing on developing a “comprehensive AI-powered platform spanning enablement, content, learning, coaching, analytics, and insights across the full revenue lifecycle, with a focus on accelerating innovation and delivering greater value to customers through a combination of the best of both Seismic’s and Highspot’s AI-driven innovations.”
Client Highlights
8.20.26
Wilson Sonsini Advises Highspot on Merger with Seismic
On August 18, 2026, Seismic, an AI-powered sales and revenue enablement platform, announced the completion of its merger with Highspot. Following a second request review, the merger obtained U.S. antitrust clearance, which allowed the transaction to close without any action by the Department of Justice Antitrust Division. The combined company will operate under the Seismic name and be led by Seismic Chief Executive Officer Rob Tarkoff. Wilson Sonsini Goodrich & Rosati advised Highspot on the transaction.
Alerts
7.30.26
DOJ Revives Targeted Second Requests for Merger Review
On July 23, 2026, the Department of Justice (DOJ) Antitrust Division announced a return to “targeted” Second Request investigations and published a revised model timing agreement. The agreement offers an optional “Expedited Consideration” process potentially allowing investigations to be resolved without a full Second Request production. Under the expedited procedures, parties produce a limited set of documents, data, and information relevant to particular issues and concerns raised by the Antitrust Division. If the targeted production is sufficient to resolve the DOJ’s concerns, the investigation may be terminated without full Second Request compliance. In addition, the targeted production may provide a context for potential settlement negotiations. If concerns remain, the DOJ may require further productions, either of the full Second Request specifications or on modified terms.
Client Highlights
3.27.26
Wilson Sonsini Advises Reltio on Acquisition by SAP
On March 27, 2026, SAP, a global leader in enterprise applications and business AI, announced its acquisition of Reltio, a leading master data management (MDM) software provider, to help customers make their SAP and non-SAP enterprise data AI-ready. Terms of the deal were not disclosed. Wilson Sonsini Goodrich & Rosati advised Reltio on the transaction.
Client Highlights
2.25.26
Wilson Sonsini Advises SambaNova on $350 Million Series E Financing
On February 24, 2026, SambaNova, a leader in next‑generation AI infrastructure, announced that it has raised more than $350 million in investment from new and existing investors. The oversubscribed Series E round was led by Vista Equity Partners and Cambium Capital, with strong participation from Intel Capital. Wilson Sonsini Goodrich & Rosati advised SambaNova on the transaction.
Alerts
2.18.26
Federal Court Vacates FTC’s 2024 HSR Form Rule; Order Stayed Seven Days Pending Appeal
On February 12, 2026, Judge Jeremy D. Kernodle of the U.S. District Court for the Eastern District of Texas granted summary judgment to plaintiffs U.S. Chamber of Commerce and other business groups, and vacated the 2024 Federal Trade Commission (FTC) rulemaking that significantly revised the Hart-Scott-Rodino (HSR) reporting requirements. The court concluded that the FTC exceeded its statutory rulemaking authority when it implemented the HSR reporting change, and such a change was arbitrary and capricious under the Administrative Procedure Act (APA). The court stayed its order for seven days to allow the FTC to seek an emergency appeal to the U.S. Court of Appeals for the Fifth Circuit. If the Fifth Circuit does not grant emergency relief before February 19, 2026, the current HSR rules will be vacated, and HSR reportable transactions will be filed under the HSR rules that were in effect prior to February 10, 2025, when the new HSR reporting rules went into effect.
Client Highlights
1.14.26
Wilson Sonsini Advises Polygon Labs on Acquisitions of Coinme and Sequence
On January 13, 2026, Polygon Labs announced definitive agreements to acquire Coinme and Sequence for more than $250 million to expand into regulated stablecoin payments in the U.S. Both companies will play foundational roles in building Polygon's forthcoming Open Money Stack, which aims to facilitate instant and reliable money movement. The Polygon Open Money Stack includes physical cash and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents. Wilson Sonsini Goodrich & Rosati is advising Polygon on both transactions.
Client Highlights
1.07.26
Wilson Sonsini Advises OneStream on Acquisition by Hg
On January 6, 2026, OneStream, the leading enterprise finance management platform, announced that it has entered into a definitive agreement to be acquired by Hg, a leading investor in software, services, and data businesses. The all-cash transaction values OneStream at approximately $6.4 billion in equity value. Wilson Sonsini Goodrich & Rosati advised OneStream on this transaction in a continuation of its long-standing advisory relationship with the company, including leading OneStream’s Up-C IPO in July 2024.
Client Highlights
1.06.26
Wilson Sonsini Advises Marvell on $540 Million Acquisition of XConn Technologies
On January 6, 2026, Marvell Technology, a leader in data infrastructure semiconductor solutions, announced it has entered into a definitive agreement to acquire XConn Technologies, a provider of advanced PCIe and CXL switching silicon. Wilson Sonsini Goodrich & Rosati is advising Marvell on the transaction.
Client Highlights
12.17.25
Wilson Sonsini Advises Udemy on Combination with Coursera
On December 17, 2025, Udemy, Inc., an AI-powered skills acceleration platform that combines on-demand, multi-language content with real-time innovation, and Coursera, Inc., an AI-powered online learning platform, announced that they have entered into a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction. Based on the closing prices of Coursera and Udemy common stock on December 16, 2025, the implied equity value of the combined company is approximately $2.5 billion. The transaction is expected to close by the second half of 2026, subject to the receipt of required regulatory approvals, approval by Coursera and Udemy shareholders, and the satisfaction of other customary closing conditions.
Client Highlights
12.08.25
Wilson Sonsini Advises Harmonic on $145 Million Acquisition of Video Business Segment by MediaKind
On December 8, 2025, Harmonic, a leader in virtualized broadband and video delivery solutions, announced it has received a binding offer from MediaKind, a leader in cloud-based video streaming technology, to acquire its Video Business segment for approximately $145 million in cash. The transaction, which is expected to close in the first half of 2026, is subject to a French employee works council consultation process and customary closing conditions and regulatory approvals. Wilson Sonsini Goodrich & Rosati is advising Harmonic on the transaction.