Insights
Search Results
Alerts
10.29.26
Early Lessons from the New Accelerated Offering Periods for Tender Offers
In April 2026, the Division of Corporation Finance of the U.S. Securities and Exchange Commission shortened the minimum offering period for certain types of equity tender offers from 20 business days to 10 business days. Since then, Wilson Sonsini has played a lead role—representing both buyers and sellers—in several tender offers that used shortened offering periods. Several lessons and best practices are beginning to emerge.
Client Highlights
10.28.26
Firm Advises hyperexponential on Acquisition by Guidewire for up to $2.1 Billion
On October 27, 2026, Guidewire, a cloud platform for P&C insurers, announced that it entered into a definitive agreement to acquire hyperexponential, a London-based agentic platform provider of AI-native underwriting and pricing software for commercial lines P&C insurers, for a base purchase price of $1.7 billion in cash, subject to adjustments. The agreement also includes up to an additional $400 million in contingent consideration based on achievement of specified recurring revenue targets, bringing the total deal value to up to $2.1 billion and marking the transaction as the largest-ever M&A exit of a privately held, venture-backed UK technology company. hyperexponential is an existing Guidewire PartnerConnect Technology Alliance Partner and brings established trust and scale in underwriting, having powered underwriting decisions across more than $75 billion in annual commercial P&C premium for leading global insurers, reinsurers, and managing general agents. Wilson Sonsini Goodrich & Rosati advised hyperexponential on the transaction.
Alerts
10.28.26
FTC Puts Playground Equipment Deal in Timeout
On October 19, 2026, the Federal Trade Commission (FTC), together with the attorneys general of twelve states, filed a complaint in the Northern District of California seeking a permanent injunction to block PlayPower’s acquisition of BCI Burke (Burke). The parties announced they would abandon the deal in response to the complaint on October 27.
Alerts
10.27.26
FTC Reaches Settlement in Publicis’s $2.2 Billion LiveRamp Acquisition
On October 19, 2026, the Federal Trade Commission (FTC) announced that it had entered a proposed consent order resolving its concerns over Publicis’s $2.2 billion acquisition of LiveRamp. The case is notable for relying on a purely vertical theory of harm centered on Publicis’s control over previously neutral data pipelines. The remedies ordered by the FTC are designed to ensure that neutrality continues after the acquisition. Firms should expect that deals involving important data infrastructure layers, most significantly artificial intelligence (AI) and related technologies, will face similar scrutiny.
Client Highlights
10.14.26
Firm Advises Morgan Stanley as Financial Advisor to the Special Committee of Bumble's Board of Directors in Acquisition by Ithaca Holdings
On October 13, 2026, Bumble announced that it entered into a definitive agreement to be acquired by Ithaca Holdings in an all-cash transaction valuing the company at $1.3 billion. Under the terms of the agreement, Bumble common shareholders will receive cash consideration of $6.05 per share of Class A common stock, representing an approximately 138 percent premium to the unaffected closing share price on October 9, 2026, and a premium of approximately 119 percent to the 30-day volume weighted average price as of October 9, 2026. Wilson Sonsini Goodrich & Rosati advised Morgan Stanley, who acted as financial advisor to the Special Committee of Bumble's Board of Directors.
Client Highlights
10.12.26
Wilson Sonsini Advises Armada Acquisition Corp. II on Business Combination with Evernorth Holdings
On October 9, 2026, Armada Acquisition Corp. II (Armada II), a special purpose acquisition company, and Evernorth Holdings (Evernorth), a digital asset treasury company building institutional access to the XRP economy, announced the completion of their business combination. Evernorth’s common stock is expected to begin trading on the Nasdaq Stock Market on October 12, 2026, under the ticker symbol “XRPN.” Investors included Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others.
Client Highlights
10.12.26
Wilson Sonsini Advises Microchip Technology on Acquisition of VORAGO Technologies
On October 9, 2026, Microchip Technology, a broadline supplier of semiconductors, announced that it has acquired VORAGO Technologies, a privately held provider of radiation-hardened and radiation-tolerant microcontrollers (MCUs) and microprocessors (MPUs) based in Austin, Texas. Terms of the transaction were not disclosed. Wilson Sonsini Goodrich & Rosati advised Microchip on the transaction.
Client Highlights
10.01.26
Wilson Sonsini Advises SpyGlass Pharma on Acquisition of Advanced Vision Science
On October 1, 2026, SpyGlass Pharma, a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions, announced the acquisition of all outstanding shares of Advanced Vision Science (AVS), an ophthalmic medical device company and manufacturer of intraocular lenses (IOLs) and lens materials, for approximately $13 million dollars in cash. This acquisition secures scalable commercial IOL manufacturing capacity for SpyGlass Pharma for its Phase 3 lead product candidate (the BIM-IOL System) and accelerates pathway to adding premium lens options into its IOL-based drug delivery system. Wilson Sonsini Goodrich & Rosati advised SpyGlass Pharma on the transaction.
Client Highlights
10.01.26
Wilson Sonsini Advises Stripe on Acquisition of Parafin
On September 30, 2026, Stripe, the programmable financial services company, announced that it has agreed to acquire Parafin, a leading embedded financial products platform. Wilson Sonsini Goodrich & Rosati is advising Stripe on the transaction.
Client Highlights
9.29.26
Wilson Sonsini Advises World Labs on $8.2 Billion Acquisition by AMD
On September 28, 2026, AMD, a global semiconductor company, announced it has entered into a definitive agreement to acquire World Labs, an AI model and research lab led by AI pioneer Dr. Fei-Fei Li. The acquisition will bring a world-class team of researchers and model experts to AMD, strengthening its ability to develop AI hardware, software, and systems. Wilson Sonsini Goodrich & Rosati is advising World Labs on the transaction.
Client Highlights
9.24.26
Wilson Sonsini Advises BlackLine on Acquisition of NetNow
On September 21, 2026, BlackLine, the future-ready platform for the office of the chief financial officer that drives digital finance transformation by empowering organizations with accurate, efficient, and intelligent financial operations, announced it has acquired NetNow, an AI-enabled B2B customer onboarding and credit risk management solution. The acquisition expands BlackLine's invoice-to-cash capabilities, bringing automated credit intelligence, AI-enabled risk and fraud detection, and ongoing portfolio monitoring, further upstream in the customer financial lifecycle. Wilson Sonsini Goodrich & Rosati advised BlackLine on the transaction.
Client Highlights
9.21.26
Firm Advises CoVet on Acquisition by IDEXX
On September 16, 2026, IDEXX Laboratories, Inc., a global leader in pet healthcare innovation, announced the acquisition of CoVetAI Inc. (CoVet), a leading and rapidly growing provider of AI-native ambient listening and clinical workflow software for veterinary practices. The financial terms of the transaction were not disclosed. Wilson Sonsini Goodrich & Rosati advised CoVet on the transaction.
CoVet helps veterinary teams automatically capture and organize information across the patient care journey, from consultation to treatment planning and client follow-up, reducing documentation burden and saving clinicians’ time. The acquisition expands the value of IDEXX’s software, diagnostics, and AI offerings by making information more accessible, actionable, and connected across the practice. CoVet will be integrated into the IDEXX software ecosystem, which will continue to support other ambient scribe solutions and third-party integrations. CoVet will also continue to integrate with non-IDEXX practice management systems.
The Wilson Sonsini team that advised CoVet on the transaction included:
CoVet helps veterinary teams automatically capture and organize information across the patient care journey, from consultation to treatment planning and client follow-up, reducing documentation burden and saving clinicians’ time. The acquisition expands the value of IDEXX’s software, diagnostics, and AI offerings by making information more accessible, actionable, and connected across the practice. CoVet will be integrated into the IDEXX software ecosystem, which will continue to support other ambient scribe solutions and third-party integrations. CoVet will also continue to integrate with non-IDEXX practice management systems.
The Wilson Sonsini team that advised CoVet on the transaction included: