16. December 2025

New Deals November 2025

M&A/PE Deals

In November 2025, there were 57 tech M&A deals in the DACH region, with a total published volume of €3.8 billion. This total came from 8 individual deals, while the amounts of the other deals weren’t publicly announced. One of the most significant deals was the sale of Northern Data Group for €661 million.

DateTargetBuyerSeller
11/2/2025SolandeoAncala, DBAG, HausheldAncala
11/3/2025bluetelligenceBregal Unternehmerkapital, Theobald–
11/3/2025ClevercitiParkHelp TechnologiesEnBW New Ventures, KfW IPEX-Bank, u.a.
11/3/2025InnoMedicusAsker Healthcare Group–
11/3/2025Mako365Ancala, DBAG, Hausheld–
11/3/2025PhantomXIon Beam Applications–
11/3/2025SHG-Conveyor ControlFlexco India–
11/3/2025STP InformationstechnologieSepteo, Bpifrance, HgCapitalBregal Unternehmerkapital, Maguar Capital
11/4/2025AcendPuzzle ITC, Tim & Koko–
11/5/2025Anykey (Germany)FRIBA Investment, KKA Partners, Xantaro–
11/5/2025EAS Engineering Automation SystemsAtlas Copco–
11/6/2025AXIONAddtech–
11/6/2025Centrotherm InternationalArdianSolarpark Blautal
11/6/2025FläktGroupSamsung ElectronicsTriton Partners
11/6/2025Schindler OrthopädieEurazeo, Naxicap, u.a.–
11/7/2025Elektronik PrintingCapza, Simplifia–
11/7/2025HolsainAeon–
11/7/2025Konrad Haluk IndustriebedarfRubix Group (Advent, u.a.)–
11/7/2025TAC Information TechnologyLEA PartnersClubessential Holdings
11/9/2025WisesatColumbus Acquisition–
11/10/2025CubertEMTEK Holdings–
11/10/2025Diamant SoftwareHg–
11/10/2025Northern Data GroupRumbleApeiron, BlackMars, Tether
11/10/2025Scantinel PhotonicsMicroVisionZEISS Ventures, Scania Growth Capital, u.a.
11/11/20254IT SolutionsVar Group–
11/11/2025Ahaus Alstatter EisenbahnVTG–
11/11/2025Kollaboenovetic agFounderful, SICTIC, u.a.
11/11/2025Mediengruppe OberfrankenMediengruppe Bayern–
11/11/2025SoftcashDocFinance–
11/11/2025STOE & CieAdvanced Measurement Instruments–
11/11/2025Xer TechnologiesRenewable Ventures NordicRex International Holdings
11/12/2025EMS Elektro Metall SchwanenmühleInternational Wire Group, Olympus Partners–
11/12/2025Engelmann SensorRivean CapitalDeutsche Private Equity
11/13/2025eduBITESAmadeus FiReIBB Ventures, Redstone VC
11/14/2025Funke MedicalGilde HealthcareHarald Quandt Industriebeteiligungen
11/16/2025aiXscale PhotonicsAstera Labs–
11/17/2025SUN bioscienceInSpheroZKB, VentureLab, u.a.
11/18/2025Bajaj Mobility (KTM/Husqvarna)Bajaj AutoPierer Industrie, Zhejiang CF Moto
11/18/2025Bosch Advanced CeramicsSintokogioBosch Business Innovations
11/18/2025MuSe ContentVertiseit–
11/18/2025N-DreamKPIT TechnologiesAlpana Ventures, Founderful, u.a.
11/19/2025cleverlohnIntegral (Financial Software)āltitude, Startup Incubator Berlin
11/19/2025JurathermPLETZER Gruppe–
11/19/2025Libra (Legal Services)Wolters KluwerLinden Capital, Merantix Capital
11/19/2025MolzymBrukerFlick Privatstiftung, Gradian Diagnostics
11/20/202521SharesFalconX–
11/20/2025CascateBct Verwaltungs- Und BeteiligungsDYNAmore
11/20/2025Gold TokenMKS PAMP–
11/21/20251&1 Versatel1&1United Internet
11/24/2025StadtAntennenMeta10WWZ
11/25/2025Curatec ServicesMedizintechnik Rostock, SHS Capital–
11/25/2025Klima.MetrixClimcycleBurckhardt Bonello, u.a.
11/25/2025Monti Stampa Furrer & PartnersAllurityNordlund Invest
11/25/2025RYSTAClimaidHigh Rise Ventures, Wayra
11/26/2025Arca24TeamSystem (Hellman & Friedman, u.a.)–
11/29/2025VIA Optronics HoldingIntegrated Micro-electronics–
11/30/2025HomeBuddyQuinStreet–

Source: Pitchbook

VC Deals

In the DACH region, we saw 66 technology VC deals in November. The total published invested capital amounted to €991 million and consisted of 47 transactions, while the amounts of the remaining transactions were not publicly disclosed.

DateTargetInvestorDeal size (EUR Mio.)
11/1/2025Connected ConsumablesNordic Mentor Network For Entrepreneurship–
11/1/2025DoNexusXdeck Accelerator–
11/1/2025High Five BenefitsAllygatr–
11/1/2025HomieNextPatron–
11/1/2025InContAlert–2.58
11/1/2025InplaceCD Private Equity–
11/1/2025Kranus HealthSuperangels–
11/1/2025LoadUpSuperangels–
11/1/2025PrivacyBeeNextPatron–
11/1/2025QcomBITAtlantic (Berlin)–
11/2/2025enshiftSwiss Solar Group17.23
11/3/2025OctonomyCapnamic Ventures, Macquarie Group, NRW.Bank17.2
11/3/2025OpenmaindScience Park Graz–
11/4/2025ChainstaffTezos–
11/4/2025DeepJudgeCoatue Management, Felicis36.14
11/4/2025Reflex AerospaceAlpine Space Ventures, Bayern Kapital, HTGF50
11/5/2025AtryaAndrew Bosomworth, Axel Springer Porsche, Gnosis1.51
11/5/2025fortyfourRemove (Netherlands)–
11/5/2025MaesnGet.de, NRW.Bank, Tiny Supercomputer Investment2.3
11/6/2025Aily LabsFPV Ventures, Insight Partners, J.P. Morgan68.92
11/6/2025Arcoris bioVentura BioMed Investors, ZEISS Ventures, ZKB6.79
11/6/2025DGLegacy–1.08
11/6/2025MotleyFounders, Kima Ventures, RTP Global1.29
11/10/2025DotegaHigh-Tech Gründerfonds1.3
11/10/2025Finthos–2.16
11/10/2025YQuantumVenture Kick0.86
11/11/2025DelvitechCreadd Ventures, EGS Beteiligungen43.09
11/11/2025OmnilexAngel Invest, Founderful, Plug and Play3.88
11/12/2025CerproD11Z.Ventures, EIT Manufacturing, seed + speed2
11/13/20253D SparkAndreas Saar, Claus Emmelmann, Fraunhofer u.a.–
11/13/2025Ferroelectric Memory (FMC)Deep Tech & Climate Fonds, HV Capital, Squared100
11/13/2025ForgisMassimo Banzi, Redalpine, Venture Kick3.8
11/13/2025Swiss ActivitiesHurbig Ventures1.7
11/14/2025aimance–0.6
11/14/2025AspionBaden-Württemberg0.05
11/14/2025Noah LabsLvlUp Ventures–
11/18/2025AcurastGavin Wood, HV Capital, Tezos u.a.4.83
11/18/2025AlbatrossDaphni, MMC Ventures, Redalpine10.5
11/18/2025Distal motionRevival Healthcare Capital129.41
11/18/2025OvomindFongit0.05
11/18/2025Peec AIAntler, Combination VC, identity.vc18
11/18/2025PionixAscend Capital Partners, Axeleo Capital, Vireo8
11/19/2025Smarterchains–1.08
11/20/2025Connected Consumables––
11/20/2025Donnerstag.aiCrestone Venture Capital, QED Investors3.71
11/20/2025Flexion RoboticsDarkMode Ventures, DST Global, Redalpine43.16
11/20/2025Logistica OSAndrew Shaw, Daniel Khachab, Daphni1.5
11/21/2025NexDashClean Energy Ventures, Extantia Capital5
11/21/2025Torpor Games1Up Ventures, Krafton, Sisu Game Ventures–
11/21/2025ViventAgri Investment Fund, Horticoop, Pymwymic7.5
11/24/2025GymBeamEBRD, Portfolion Capital Partners30
11/24/2025INZMOMastercard Lighthouse–
11/24/2025Leverage–1
11/24/2025Quantum SystemsBalderton Capital200
11/25/2025Cerrion10x Founders, Creandum, Y Combinator15.56
11/25/2025HowieDar Ventures–
11/26/2025EcoGBayern Kapital, Extantia Capital, GET Fund16
11/26/2025Emerald Horizon–75
11/26/2025Propfy–0.54
11/27/2025NEXOWARELEA Partners–
11/27/2025ONEKEYMomenta Ventures1
11/27/2025RencoreCapnamic Ventures, Hi Inov, UVC Partners15
11/27/2025SaporoCDP Venture Capital, Giesecke+Devrient7
11/27/2025SoniaBlue Lion Global, Lucid Capital, UVC Partners11.95
11/28/2025Gravis RoboticsHolcim, IQ Capital Partners, Pear19.89
11/28/2025Xcert.aiSpicehaus Partners1.18

Source: Pitchbook

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Franziska Wolfgram
f.wolfgram@atares.team
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