We tracked 3 megadeals in the IoT sector in spread across July and September in 2026. The largest transaction involved EPC Power, an intelligent power conversion solutions provider for data center and grid applications, getting acquired by Flex for $4.4 billion. The acquisition expands Flex’s data center and electrical infrastructure portfolio, strengthening its position in next-generation 800V power architectures as AI workloads drive higher power demands. 

Another large deal in the IoT space involved defense systems operator Ondas picking up an autonomous aerial systems company, Dzyne Technologies, for $874 million. The deal enhances Ondas’ autonomous defense capabilities and strengthens its position in the defense and security market. 

In the Industrial Services space, MISTRAS Group, a provider of technology-enabled industrial asset integrity and laboratory testing solutions, was pocketed by private equity firm H.I.G. Capital for $679 million at 1.2 times revenue to capitalize on its established customer relationships, expand into high-growth end markets, and improve operational efficiency. 

In July, Catalyst, an AI-based satellite and aerial sensor data processing solution out of Canada, was picked up by US-based geospatial intelligence company Intermap Technologies for $7.8 million to enhance its sensor data processing and geospatial analytics capabilities. 

In South Korea, a smart factory automation control solutions company UBIZ Solutions was bought by network infrastructure and IT services provider Kwangmu for $22.6 million to diversify its portfolio into smart factory automation. 

TIMS Medical, an American provider of connected medical imaging and device integration software, was acquired by Danish endoscopy solutions provider Ambu for $45 milllion at 3 times revenue to strengthen its endoscopy connectivity and workflow integration capabilities. 

In California, the brain-sensor technology company Sonera Magnetics was bought by consumer electronics giant Apple to extend its wearable health-sensing capabilities. 

Also in the US, Deako, a provider of AI-enabled smart lighting and connected home automation solutions, merged with smart home technology platform SKYX Platforms for $47.5 million at 1.8 times revenue to strengthen its smart home technology portfolio and expand its presence in the US homebuilder market.