Introduction 

London is one of the world's leading financial centres, and it is also a major hub for mergers and acquisitions (M&A) activity. In the last month, there have been a number of high-profile M&A deals that have closed in London, involving companies from a variety of sectors. 

This article will take a look at the top five M&A deals that have closed in London in the last few months, highlighting what they were and explaining why they are important. 

1. Broadcom Acquires VMware for $61 Billion 

In the largest M&A deal of the year so far, semiconductor giant Broadcom announced in May 2023 that it would acquire VMware, a leading provider of cloud computing software, for $61 billion. The deal is expected to close in early 2024. 

This deal is significant because it brings together two companies that are leaders in their respective fields. Broadcom is a major player in the semiconductor industry, while VMware is a leader in the cloud computing market. The combined company will be well-positioned to capitalise on the growing demand for cloud computing solutions. 

2. Private Equity Firm Advent International Acquires Cobham for $5 Billion 

In June 2023, private equity firm Advent International announced that it would acquire Cobham, a UK-based aerospace and defence company, for $5 billion. The deal is expected to close in the third quarter of 2023. 

This deal is significant because it is one of the largest private equity deals in the UK in recent years. It also comes at a time when the aerospace and defence sector is undergoing a period of consolidation. Advent International is likely to look to improve Cobham's operational efficiency and expand its product portfolio. 

3. UK Insurance Company Aviva Acquires Ireland's Friends First Life for £3.2 Billion 

In June 2023, UK insurance company Aviva announced that it would acquire Ireland's Friends First Life for £3.2 billion. The deal is expected to close in the first quarter of 2024. 

This deal is significant because it will strengthen Aviva's position in the Irish insurance market. Friends First Life is the fourth-largest life insurer in Ireland, and it has a strong presence in the retail and corporate markets. The deal will also help Aviva to diversify its earnings stream. 

4. US Software Company Thoma Bravo Acquires UK Cybersecurity Firm Darktrace for £2.7 Billion 

In July 2023, US software company Thoma Bravo announced that it would acquire UK cybersecurity firm Darktrace for £2.7 billion. The deal is expected to close in the fourth quarter of 2023. 

This deal is significant because it is one of the largest cybersecurity acquisitions in history. It also comes at a time when cybersecurity is becoming increasingly important for businesses of all sizes. Thoma Bravo is likely to look to invest in Darktrace's growth and expand its product portfolio. 

5. US Software Company Autodesk Acquires UK Construction Software Firm Procore for £2.7 Billion 

In July 2023, US software company Autodesk announced that it would acquire UK construction software firm Procore for £2.7 billion. The deal is expected to close in the first quarter of 2024. 

This deal is significant because it brings together two leading providers of software for the construction industry. Autodesk is a major player in the design and engineering software market, while Procore is a leader in the construction management software market. The combined company will be well-positioned to capitalise on the growing demand for digital transformation in the construction industry. 

Why are these M&A deals important? 

M&A deals can be important for a number of reasons. They can help companies to: 

The M&A deals that have closed in London in the last few months are all examples of deals that are likely to benefit the companies involved. For example, the acquisition of VMware by Broadcom will allow Broadcom to expand its product portfolio. 

Conclusion 

These are just a few of the top M&A deals that have closed in London in the last few months. These deals are significant because they involve companies from a variety of sectors, and they highlight the continued attractiveness of London as a hub for M&A activity.