On May 6, 2024, Mergers & Acquisitions named 11 deals as its 2024 Middle-Market Deals of the Year. The deals were noted to “transcend a variety of market headwinds faced by dealmakers in the last year.” Two deals led by Wilson Sonsini were named among the winners: Lumentum’s acquisition of Cloud Light Technology and DTx Pharma’s sale to Novartis.

Lumentum’s $750 million acquisition of Cloud Light Technology, a fast-growing company designing and manufacturing state-of-the-art advanced optical modules that are a critical component to cloud operators and AI infrastructure providers, was a complex-cross border transaction that was recognized as the Middle-Market Deal of the Year for the Technology Sector. Wilson Sonsini represented Lumentum in the transaction.

DTx Pharma, a preclinical-stage biotechnology company addressing the delivery challenges of oligonucleotide therapeutics, was acquired by Novartis for up to $1 billion in deal consideration ($500 million at closing and up to another $500 million in potential milestone payments) and was recognized as the Middle-Market Deal of the Year for the Pharmaceuticals Sector. Wilson Sonsini represented DTx Pharma in the transaction.

Additionally, Visa’s $1 billion acquisition of Pismo, a global cloud-native issuer processing and core banking platform, and one of the most significant fintech transactions over the past year and one of the largest Latin America Cross-border fintech deals of all time, was among the 14 deals that received honorable mention. Wilson Sonsini represented Pismo in the transaction. 

For more information, please see our client highlights on the Lumentum Holdings, DTx Pharma, and Pismo transactions.

To view the complete list of 11 winners and 14 honorable mentions, please visit the Mergers & Acquisitions site (subscription required).