Headspace, Once Worth $3 Billion, Sells for $300 Million, Plus 9 More M&A Deals

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Sword Health has agreed to acquire Headspace in an all-cash deal valued at roughly $300 million, with closing expected before the start of Q4 2026. Headspace counts more than 100 million users across 200 countries, is offered by more than 20,000 employers to their staff and is covered by health plans including Cigna and Kaiser Permanente. The transaction folds Headspace’s network of more than 15,000 clinicians into Sword’s AI Care platform, which has already treated over one million patients across physical pain, women’s health, mental health and cardiometabolic care.

The deal marks a substantial valuation reset: Headspace peaked near $3 billion during its 2021 merger with Ginger. Sword, valued at $4 billion following its June 2025 funding round, is building an integrated multi-condition care platform for employers and previously acquired Kaia Health for $285 million. CEO Virgílio Bento said Sword could pursue an IPO as early as 2028.

OpenAI Buys AI Camera Startup Glass Imaging Ahead of Mystery Gadget Launch

OpenAI has quietly acquired Glass Imaging, a California-based startup building AI-enhanced smartphone camera technology, in a deal reportedly worth more than $300 million, according to the Wall Street Journal. Founded by former Apple engineers Ziv Attar and Tom Bishop, Glass Imaging says its Neural Image Signal Processing technology boosts camera performance up to 10x by correcting lens and sensor imperfections.

Industry observers link the acquisition to OpenAI’s rumored hardware device, which is being developed in collaboration with former Apple designer Jony Ive. CEO Sam Altman has said the gadget could add $1 trillion in value. It is designed to rest unobtrusively in a pocket or on a desk.

Jensten to Acquire Tech-Focused Broker Venture Risks Group

Jensten Group has agreed to acquire Venture Risks Group (VRG), a specialist technology-focused corporate broker, with completion expected in October 2026. Financial terms were not disclosed.

VRG, incorporated in 2018, has built a reputation advising high-growth and innovation-led businesses and previously operated as an appointed representative of Momentum Broker Solutions. It will join Jensten’s Tech, Media, Cyber & Life Sciences division, deepening the group’s capabilities across technology, professional indemnity, cyber and related risks. The deal extends the division’s footprint into Cambridge, adding to existing operations in London, Bristol, Thames Valley and Birmingham and giving it coverage across the UK’s principal technology and life sciences corridors.

Quorum Cyber Adds Autonomous SOC Through Ontinue Acquisition

Quorum Cyber has signed a definitive agreement to acquire Ontinue, a five-time Microsoft Gold Partner delivering managed extended detection and response through its Agentic Security Operations Center. Edinburgh-based Quorum Cyber employs 276 people, Zurich-based Ontinue employs 214. The combination unites two Microsoft-focused security firms to help organizations extract full value from Microsoft E5 and E7 security licenses and to fill gaps that Microsoft’s own tools leave open.

Ontinue introduced an autonomous investigation system more than a year ago, letting clients define policies for where the system can act on their behalf without human sign-off. Eterna Growth Partners, Quorum Cyber’s current majority investor, will remain the majority investor in the combined company. Financial terms were not disclosed.

Dormakaba to Acquire Alliants, Connecting Hotel Access With Digital Guest Experience

Swiss access technology group dormakaba has signed a binding agreement to acquire Alliants, a UK-based hospitality technology company whose guest experience platform supports more than 100,000 hotel rooms for brands including Four Seasons, Mandarin Oriental and Premier Inn. Founded in Southampton in 2009, Alliants provides concierge, contactless check-in, mobile key, payments, messaging and agentic AI tools, and delivers digital room keys directly to Apple and Google Wallet.

The deal connects dormakaba’s physical access hardware with Alliants’ digital guest engagement software, while both companies say they will stay interoperable with competing technology partners. The Swiss group, which generated roughly $3.4 billion in revenue in the fiscal year through June 2026, called the deal small relative to its scale and described it as a capability acquisition. Financial terms were not disclosed; closing is expected later in 2026.

Ondas Buys Israeli Fuze Maker GATE in Latest Defense Tech Deal

US defense tech company Ondas Holdings has agreed to acquire GATE Technologies, an Israeli manufacturer of smart fuzes for loitering munitions and drones that is also involved in the Iron Dome program, along with its European partner Bron Technologies. The deal is valued at $205 million and could rise by up to $185 million more depending on performance targets through the end of 2028.

GATE’s fuze systems are integrated into dozens of weapons platforms worldwide, keeping munitions safe during storage and transport and allowing activation only under predefined conditions. The acquisition is the latest in a string of Israeli defense deals by Ondas, which has also bought Airobotics, Bird Aerosystems, Robotican, Centrix and Indo over the past year and has recruited senior Israeli defense figures including former Mossad director David Barnea.

VIP Acquires Encompass to Advance Food and Beverage Technology

Vermont Information Processing (VIP) has completed its acquisition of Encompass Technologies, expanding its technology portfolio for the food and beverage industry. Both companies will continue operating under their existing names and brands. Encompass CEO Patrick Tickle will remain in his role through the transition before moving into an advisory position.

VIP, founded in 1972 and based in Colchester, Vermont, builds software for breweries, wineries and beverage distributors and employs roughly 600 people across offices in Vermont, Michigan, Pennsylvania and Missouri. Encompass brings ERP, operations, sales and logistics capabilities to the combination, which VIP sees as a way to accelerate its push into agentic, AI-driven workflows across the beverage supply chain. Financial terms were not disclosed.

Superhuman Acquires Y Combinator-Backed Notetaker Fathom

Superhuman has acquired Fathom, a meeting notetaker backed by Y Combinator, as productivity platforms push further into agentic work. Fathom, founded in 2020, has raised more than $30 million and was valued at $94 million in 2024. It counts more than 400,000 monthly active users, and over 1 million people have recorded meetings through the platform to date.

Superhuman CEO Shishir Mehrotra said internal testing showed how difficult it is to build a great notetaker, while Fathom CEO Richard White pointed to Superhuman’s 40 million users as a faster path to scale than operating standalone. The deal follows Superhuman’s own acquisition by Grammarly in 2025 and adds notetaking to a suite that already includes email, docs, calendar and a newly launched AI agent builder. The combined product is set to draft emails and trigger follow-up actions directly from meeting content.

Envestnet to Acquire Wealth Tech Provider Vestmark

Envestnet has signed a definitive agreement to acquire Vestmark, a wealth management technology provider supporting more than $2 trillion in assets across more than five million accounts. The deal is expected to close in Q4 2026; terms were not disclosed. Envestnet itself serves over a third of all financial advisors across its platforms, with $8 trillion in platform assets.

The acquisition brings Vestmark’s institutional-grade trading, tax transition and engineering capabilities into Envestnet’s ecosystem. CEO Chris Todd said the goal is to connect a wealth management lifecycle that has been “siloed for too long” between advisors, traders and portfolio managers. Envestnet was taken private in 2024 by Bain Capital, alongside minority partners including BlackRock, Fidelity and State Street.

Kiteworks Acquires Bonfy.AI to Fill the AI Gap in Data Governance

Kiteworks has acquired Bonfy.AI, an AI-native content security platform that classifies sensitive data and enforces policies in real time across email, file sharing, SaaS applications and workflows run by both humans and AI agents. The price was not disclosed, though CTech estimated the deal in the tens of millions of dollars. Bonfy.AI will continue operating as a separate solution during its integration into Kiteworks’ Data Control Plane.

The acquisition targets a structural gap in enterprise data security. Most tools classify sensitive data at rest, while much of the risk arises in motion: in the email about to be sent, the file about to be attached or the response an AI agent is about to generate. Bonfy founder and CEO Gidi Cohen said the deal gives his runtime classification technology “a control plane and a reach we could not have built on our own.”

About the author: Ben Boissevain [in] [𝕏] is the founder of Ascento Capital Invest (www.techbanking.com), a boutique investment bank providing M&A, capital raise and valuation advisory to technology companies in the U.S. and internationally. He compiles the weekly Top Ten Tech M&A Transactions list and is a contributor to TechCrunch.