Tech M&A with Fexingo: Software Acquisitions, Strategic Buyers, and Tech Deals

Oracle just reported a 13.1% stock jump in five days, and its M&A strategy is a big reason why. In this episode, Lucas and Luna break down how Oracle went from a legacy database company to the most aggressive buyer in enterprise software — buying Cerner for $28 billion, scooping up cloud infrastructure startups, and outspending Salesforce and ServiceNow combined. They dig into the playbook: why Or...

Oracle and Salesforce have been on a buying spree, but their strategies couldn't be more different. In this episode, Lucas and Luna break down how Oracle's infrastructure-first approach and Salesforce's vertical integration playbook are reshaping tech M&A. With Oracle's stock up 28% and Salesforce up 13% in the last week alone, the market is rewarding these divergent paths. We look at recent deals...

Lucas and Luna dive into the massive moves reshaping enterprise software M&A. With ServiceNow surging 25% and Oracle up 28% in the past week, the hosts explore why these two companies have become the most aggressive acquirers in tech. They break down Oracle's $28 billion Cerner deal and ServiceNow's string of AI acquisitions, and explain how a new breed of 'platform M&A' is different from classic...

Earnouts are usually seen as a way to keep startup founders engaged post-acquisition. But in this episode of Tech M&A with Fexingo, Lucas and Luna explore the flip side: the 'reverse earnout,' where the buyer withholds part of the purchase price and releases it only if the startup hits certain milestones. Using Oracle's $28 billion Cerner deal and recent Salesforce acquisitions as case studies, th...

Lucas and Luna drill into the numbers behind this week's stunning moves in enterprise software: ServiceNow up 36% in five days, Snowflake surging 57.7%, Oracle climbing 28.5%. What ties them together? All three are using M&A to reshape their competitive positions — and the market is rewarding them for it. Lucas breaks down ServiceNow's acquisition strategy under CEO Bill McDermott, how Snowflake i...

When a mid-size enterprise software company called Sprout Social bought Tagger Media for $450 million in 2023, the deal included a $150 million earnout tied to revenue targets. By 2025, Tagger's founders had hit the targets — but Sprout Social refused to pay, triggering a lawsuit that went to Delaware Chancery Court. In April 2026, the court ruled in favor of the founders, ordering Sprout Social t...

In this episode, Lucas and Luna break down the most complex earnout clause in recent tech M&A history: the ServiceNow-Intellibot deal from early 2026. They explain how the earnout structure was tied to AI agent adoption metrics, not just revenue targets, and why that model is now being copied across enterprise software. Lucas draws on his reporting to show how earnouts are evolving from simple rev...

Lucas and Luna dig into a quiet but massive trend in tech M&A: record levels of private-company dealmaking before the IPO. With Snowflake up 48 percent in a week and ServiceNow hitting fresh highs after its own acquisition spree, the hosts examine how the math of selling a company early has shifted. They walk through the typical 'build to flip' calculus, the role of private equity as both buyer an...

ServiceNow's stock surged 22% in a week, and the company has become the most aggressive acquirer in enterprise software—buying 17 companies in the last five years, including two in 2026 already. Lucas and Luna break down ServiceNow's acquisition strategy: how it targets workflow automation plays, why it outbids private equity, and what the 'Now Platform' integration model tells us about the future...

In late May 2026, Snowflake's stock surged 48% in a single week after the company announced a massive acquisition of a rival cloud data platform. Lucas and Luna break down the deal's structure, the strategic logic, and what it means for the broader tech M&A landscape. They also examine how Snowflake's move contrasts with Oracle's recent 17% gain on its own acquisition spree, and what this signals...

A single acquisition this week—Nvidia's $20 billion deal for an AI chip startup—could rewrite the rules of tech M&A. In this episode, Lucas and Luna break down why this wasn't a traditional acquisition or even an 'acqui-hire,' but something in between: a talent-and-IP fusion that lets Nvidia lock down scarce AI chip engineers without an outright purchase. They examine how the deal sidesteps regula...

Episode 18 of Tech M&A with Fexingo dives into a counterintuitive trend: recently public software companies going on acquisition sprees. Using Snowflake's 44% share surge after a major deal, we examine how companies like Snowflake and ServiceNow are using their high-valued stock as currency to acquire AI startups and platform technologies. Lucas and Luna break down the strategic logic, the risks o...

Today we're talking about Asana's acquisition of no-code agent-builder Stack AI, announced May 28, 2026. This is not your typical big-ticket tech M&A — it's a smaller, strategic buy aimed at embedding AI agent creation into Asana's workflow platform. Lucas breaks down why this deal signals a broader shift: big tech and SaaS companies are scooping up no-code AI startups to let users build custom ag...

Lucas and Luna explore why big tech companies are shifting from buying software startups to acquiring infrastructure for AI compute. With NVIDIA's stock down nearly 5% in a week and Oracle's steady climb, the hosts unpack the logic behind multi-billion-dollar data center and chip supply deals. They discuss how hyperscalers like Amazon, Google, and Microsoft are building in-house AI chips and buyin...

On this episode of Tech M&A with Fexingo, Lucas and Luna break down the $6 billion deal between Snowflake and Amazon Web Services for AI CPU chips — and what it means for the future of tech acquisitions. They explore how cloud giants are increasingly buying their own customers' workloads, the strategic logic behind Snowflake's multi-cloud pivot, and what this tells us about the next wave of infras...

When a cloud platform buys another cloud platform, sparks fly. In this episode of Tech M&A with Fexingo, Lucas and Luna unpack a surprising trend: large tech companies acquiring direct competitors in the cloud infrastructure and software-as-a-service space. They examine the recent rumblings around Oracle's acquisition of a smaller cloud data player, and how Microsoft's purchase of a cloud cost-man...

A Dutch government block on a US company acquisition makes headlines, raising questions about tech sovereignty and national security. Lucas and Luna unpack the deal, the regulator's reasoning, and what this means for cross-border M&A. They reference recent headlines about Starlink's IPO momentum and OpenRouter's valuation surge as contrast. Plus, they discuss why ad-free podcasting relies on liste...

In this episode of Tech M&A with Fexingo, Lucas and Luna dissect the recent ClickUp mass layoff and what it signals about the future of work and tech M&A. They explore how the once-high-flying productivity unicorn went from a $4 billion valuation to cutting over 300 employees, and what that means for strategic buyers and acquirers in the software space. With ClickUp's struggles reflecting broader...

In this episode of Tech M&A with Fexingo, Lucas and Luna examine why large technology companies are increasingly acquiring small startup teams for their intellectual property rather than for talent or revenue. They discuss the recent acquisition of a niche AI-driven design tool by Adobe, the $2.2 billion deal for a data orchestration platform by Salesforce, and how this trend is reshaping venture...

In this episode of Tech M&A with Fexingo, Lucas and Luna explore why Palantir, a company that has long insisted it will never be acquired, suddenly looks like a plausible takeover target in 2026. With Palantir's stock up 4.8% in the past week and the company posting accelerating revenue from its AIP platform, Lucas breaks down the structural shift: the U.S. government is consolidating defense tech...

In Tech M&A, earnouts are supposed to bridge the valuation gap between buyers and sellers. But as Lucas and Luna explore in this episode, they often become a source of conflict. Using the recent $1.5 billion acquisition of a cybersecurity startup as a case study, they unpack why 40% of earnouts fail to pay out in full, the accounting headaches they create, and why some acquirers now avoid them ent...

When a big tech company buys a startup, the founders often get part of their payout tied to future performance targets—an earnout. In this episode, Lucas and Luna break down why earnouts have become more common in software acquisitions, how they can backfire, and what the rise of earnouts says about today's M&A market. With Oracle up nearly 3% this week and ServiceNow down slightly, the hosts look...

Lucas and Luna explore the rising trend of blocked tech acquisitions, using the recent collapse of Adobe's $20 billion Figma deal as a central case. They break down why regulators are pushing back harder, how stock prices react when deals fall apart (Adobe shares jumped 4.3% in one day), and what Microsoft's abandoned $69 billion Activision play tells us about the new antitrust era. Plus: what sta...

Episode 6 of Tech M&A with Fexingo examines the accelerating trend of U.S. tech giants acquiring European AI startups. Lucas and Luna focus on the recent case of Peec, a Berlin-based startup that doubled its annualized revenue to $10 million in months and is now attracting acquisition interest. They explore why European startups are increasingly targets: favorable talent pools, lower valuations th...

In this episode of Tech M&A with Fexingo, Lucas and Luna explore why Adobe has almost completely sat out the software acquisition frenzy of the past two years. While rivals like Salesforce, Oracle, and Microsoft have spent billions on transformative deals, Adobe has funneled cash into share buybacks—$18 billion since 2023. Lucas breaks down Adobe's internal calculus: its product suite is already d...