Deal Dispatch: Ithaca Holdings Buys Bumble for $1.3B, The Knot Acquires Zola, Character.ai Bankruptcy
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New On The Block
Aurora Cannabisis evaluating strategic alternatives to Curaleaf'shostile takeover bid, including a potential third-party transaction or continuing as an independent company, as it seeks to maximize shareholder value.
Updates From The Block
Bumble Inc. (NASDAQ: BMBL ) agreed to be acquired by Ithaca Holdingsin an all-cash transaction valued at $1.3 billion. Bumble will operate as a privately held company with offices in London, Austin and New York City, and is expected to remain based in Austin.
IonQagreed to acquire
cybersecurity firm Elisityin an all-stock deal valued at up to $1.3 billion, combining its quantum security technologies with Elisity's enterprise protection platform.
The acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approval.
26North Partnersagreed to acquire
MEI Industrial Solutions,a national provider of equipment execution services, from private equity firm Olympus Partners.The transaction is expected to close in the fourth quarter, pending customary conditions and regulatory approvals.
ATL Partners,a private equity firm investing in commercial aerospace, national security, and transportation and logistics, said its Precise A&Dplatform acquired
Precise Metal Products,an aerospace supplier. The company was purchased from affiliates of Staple Street Capital.Financial terms of the transaction were not disclosed.
Property management company AKAM, acquired
Matthew Adam Properties, a New York City–based property management firm managing 85 buildings across the city. Financial terms of the transaction were not disclosed.
The Knot Worldwide,owned by private equity firm Permira,agreed to acquire rival wedding-planning platform Zola,expanding its portfolio of wedding services, Reuters reported. Zola will continue operating as a standalone brand, offering services including wedding websites, gift registries, invitations and guest-list management. Financial terms were not disclosed.
West Madison Foods,a portfolio company of Brynwood Partnersand maker of Dean's Dips and Marie's salad dressings, bought
The Flavor of California,which holds the licensing rights to Bob's Big Boy salad dressings and dips. Financial terms were not disclosed.
Vivify Specialty Ingredients,a portfolio company of Gryphon Investors, purchased
AuNutra Industries, a supplier of botanical extracts and nutritional ingredients for the supplement and nutraceutical markets. Financial terms were not disclosed.
Private equity firm Rhôneagreed to sell Paragon Films,a manufacturer of high-performance stretch and shrink films, to Atlantic Ridge Capitaland Grafine Partnersfor approximately $900 million. The deal is expected to close in the fourth quarter, subject to customary closing conditions.
Agilent Technologiesagreed to acquire pathology software maker Prosciafor $240 million in cash, with an additional $30 million possible if performance targets are met, Reuters reported. The deal will expand Agilent's digital pathology business and AI-powered diagnostics capabilities and is expected to close early in fiscal 2027.
Private investment firm PSP Capitalagreed to sell StormTrap, a provider of stormwater management and water quality solutions, to Advanced Drainage Systemsfor approximately $530 million. The transaction is expected to close in the coming months, pending customary regulatory approvals.
Workday (NASDAQ: WDAY ) has agreed to acquire C1.ai , a platform that manages identities and access for people and AI agents. The deal is expected to close in the fourth quarter of Workday's fiscal 2027, ending Jan. 31, 2027, subject to customary closing conditions.
Off The Block
Watsco, Inc. (NYSE: WSO ) completed the previously announced acquisition of The Granite Group,a distributor of plumbing and HVAC products.
Nasdaq (NASDAQ: NDAQ ) completed its acquisition of LeveL Markets, LLC,an off-exchange equity execution venue and operator of one of the largest Alternative Trading Systems (ATSs) in the United States, Traders Magazine reported .
See More: Top Momentum Stocks
Bankruptcy Block
Artificial intelligence startup Character.ai filed for Chapter 11 bankruptcy. The company plans to pursue a court-supervised sale before the end of the year to secure the platform's long-term future. Walt Disney & Co.also agreed to pay $20 million for select intellectual property and provide transition support through former Character.ai employees now working at the entertainment giant. The arrangement is expected to help keep the platform operating throughout the bankruptcy proceedings.
Getty Imagesplans to file for Chapter 11 bankruptcy and go private by year-end, following the collapse of its Shutterstockmerger amid heavy debt and AI competition, Reuters reported. Getty family affiliates and Koch Equity Developmentwill take full ownership, with investors committing up to $533 million in new equity.
The Picklr, one of the world's largest indoor pickleball franchise networks, filed for Chapter 11 bankruptcy protection through its parent company, Picklr Inc., in a Texas bankruptcy court. The company said its clubs will remain open, while an investor group led by a franchisee has committed $4.5 million in financing pending court approval. The Picklr reported $10.3 million in 2025 revenue and a $4.4 million net loss, with about $19 million in liabilities as of March 2026, financial statements cited by Sports Business Journal revealed.
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