Tech Industry Highlights: Mergers, Acquisitions, and Major Players of 2023 

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Tech Industry Highlights: Mergers, Acquisitions, and Major Players of 2023 

The tech industry is a competitive field of transformation and innovation—and there’s much to look out for.

This article will look at fascinating mergers and acquisitions (M&As) and key players that have shaped 2023. Let’s take a deep dive into the latest technology, organizations, and visionary people that reshaped the technological landscape.

 

Look Forward: Top 2023 M&As, Collaborations, and Upgrades in Tech 

Curious about the noteworthy tech events of 2023? We’ve selected eight industry highlights you’ll definitely want to know.

 

1. Atlassian acquires video messaging platform Loom.

Atlassian spent $975 million to acquire the video messaging platform Loom.¹

Loom established itself in San Francisco in 2016 to help users instantly communicate through videos they can share. The platform currently has over 25 million users. Its business users record up to 5 million videos a month.

With the acquisition of Loom, the 260,000 customers of Atlassian can further improve the collaboration amongst their teams through tailored video updates, visual logs, and other video-powered connections.

On top of this, both Loom and Atlassian have AI investments. Through the acquisition, users can smoothly transition between videos, transcripts, documents, summaries, and workflows, allowing them to connect and collaborate better.

 

2. Cisco will help make organizations more secure and resilient by acquiring Splunk for $28 billion.

The adoption of artificial intelligence (AI) brings about threats and complexities that require cutting-edge solutions for resolution.

Cisco announced that it will acquire Splunk, which will cost $28 billion or $157 per share in cash.² The joining of these two forces will speed up Cisco’s strategy of securely connecting everything while building on Splunk’s heritage of enhancing organizations’ digital resilience.

Related Reading: Cybersecurity Challenges in the Age of Generative AI and Cloud: Insights from Wipro’s 2023 Report 

 

3. English startup Heata reuses waste heat from cloud computing.

Heat can be a struggle to afford for some people. The good news is English startup Heata found a way to heat water through a 90-liter electric boiler.³ What’s unique about this boiler? Next to it is a computer with a tag that says, “This powerful computer server is transferring the heat from its processing into the water in your cylinder.”

Signing up with Heata allows their team to place a server in your home that connects via Wi-Fi. The server prevents one ton of carbon dioxide per year from being emitted, saving homeowners a yearly average of £250 on hot water.

The Heata trial, funded by the national government agency Innovate UK, has been operational in Surrey County for over a year, installing 110 units since October 2023.

 

4. Optiv acquires ClearShark to strengthen federal business.

Optiv, a cybersecurity powerhouse, expanded significantly in the federal government sector by acquiring ClearShark, a solution provider.⁴ The deal concluded with the addition of 125 employees to Optiv’s existing workforce of over 2,500.

Due to this acquisition, Optiv will now derive roughly 20 percent of its revenue from federal government customers.

In cybersecurity, ClearShark specializes in helping federal customers establish a zero-trust security posture, specifically emphasizing identity security. On top of this, ClearShark also focuses on big data, enterprise storage, data centers, and cloud infrastructure.

 

5. ServiceNow transforms retail by acquiring G2K.

Many organizations continue to face challenges in effectively managing their data, translating it into actionable insights that can positively influence their business outcomes.

ServiceNow, a leading digital workflow company, revealed plans to acquire the AI-powered platform G2K. This strategic move will lead to transformation not only in the retail sector but also across other industries.⁵

The G2K technology enables businesses to connect their real-time data across physical spaces like storefronts for a complete view of their operational data. ServiceNow will add G2K’s smart IoT technology to the Now Platform, allowing businesses to intelligently action digital and in-store data with enterprise-grade workflows.

 

6. Baidu has chosen Huawei over Nvidia to supply AI chips.

China’s tech giant and leading AI firm Baidu shifts away from supplier Nvidia to order chips from Huawei.⁶ The orders were placed in August to get ahead of the US government’s tightened restrictions on exporting chips to China, including those created by Nvidia.

Huawei’s chips are still seen as far inferior to Nvidia’s when it comes to performance. However, they are also considered the most sophisticated option in China.

Baidu, Tencent, and Alibaba have been long-time clients of Nvidia. Baidu was not an AI chip customer to Huawei before the restrictions.

Since 2019, Huawei has been the subject of export controls in the US. Analysts recently predicted that the US curbs may enable Huawei to expand in its $7 billion home market.

 

7. Elon Musk’s xAI debuts ChatGPT rival Grok.

Did you know that what you posted on X, formerly Twitter, can now be used to train xAI’s first AI chatbot technology, Grok? If you’re uncomfortable about this, maybe it’s time to rethink if you want to keep your account.

xAI’s Grok recently debuted, and it’s supposed to have a bit of wit and a rebellious streak as it will answer your questions that other AI bots may avoid.⁷ However, like other Large Language Models (LLMs), the challenge is that Grok may still generate contradictory or false information.

Grok is currently in its early beta phase and will be a new feature of X Premium+, which costs $16 monthly.

 

8. Cercle, a health AI startup, launches with support from Sheryl Sandberg, Meta’s former COO.

Cercle, a new health tech startup, launched with support from major global partners and investors, including Meta’s former COO, Sheryl Sandberg.⁸

With a focus on fertility care, Cercle uses AI to improve women’s health. Through Cercle’s platform, unstructured medical data, including medical records and test results, can be organized into a format designed for fertility researchers and doctors. The company hopes to help clinicians develop treatment plans that are more personalized and accelerate their new pharmaceutical discoveries.

For example, a patient’s doctor interested in egg freezing can use the Cercle platform to compare the patient’s data with similar individuals who have undergone the same procedure. While maintaining anonymity and de-identification, the doctor gains insights into various successful and unsuccessful treatments, allowing for the development of a more personalized and practical action plan.

 

Tech Has So Much in Store for You 

Whether you are a business owner or an employee, we can benefit from the latest technologies in and out of work. Try becoming familiar with them to see if any of the latest tech can benefit your lifestyle or productivity at work.

Yet, along with new technologies, also come new threats. It would be best to stay informed about these potential risks, understand their origins, and learn effective strategies to address them.

 

GAIN ACCESS TO THE LATEST AND TRUSTED TECHNOLOGIES BY PARTNERING WITH STRATEGIC SYSTEMS

Technologies keep transforming, and your organization needs to keep up if you wish to sustain productivity or reach the excellent results you aim for.

If you want to upgrade your organization’s processes and systems or need experts to handle your latest software programs, Strategic Systems is the right partner to trust. We can connect you with the right experts in tech through our managed services, technical services, offshore services, or staffing solutions.

Get in touch with us today, and let’s work together on your new tech strategies.

 

References 

1. Talevski, Julia. “Atlassian Spends US$975M on Loom.” Channel Asia, 13 Oct. 2023, www.channelasia.tech/atlassian-spends-us-975m-loom.

2. “Cisco to Acquire Splunk, to Help Make Organizations More Secure and Resilient in an AI-Powered World.” PR Newswire, 21 Sep. 2023, www.prnewswire.com/cisco-to-acquire-splunk-to-help-make-organizations-more-secure-and-resilient-in-an-ai-powered-world.

3. Avantaggiato, Luigi. “This Startup Has Engineered a Clever Way to Reuse Waste Heat from Cloud Computing.” MIT Technology Review, 18 Aug. 2023, www.technologyreview.com/computer-waste-heat.

4. Alspach, Kyle. “Optiv Doubles Down On Federal Business With Acquisition Of ClearShark.” CRN, 13 Mar. 2023, www.crn.com/optiv-doubles-down-on-federal-business-with-acquisition-of-clearshark.

5. “ServiceNow to Acquire Artificial Intelligence Powered Platform G2K to Transform Retail and Beyond.” ServiceNow, 12 May 2023, www.servicenow.com/servicenow-to-acquire-g2k.

6. “Baidu Orders Huawei AI Chips in Shift from Nvidia.” Yahoo! Finance, 8 Nov. 2023, finance.yahoo.com/baidu-orders-huawei-ai-chips.

7. Picciotto, Rebecca. “Elon Musk Debuts’  Grok’ AI Bot to Rival ChatGPT, Others.” CNBC, 5 Nov. 2023, www.cnbc.com/elon-musk-debuts-grok-ai-bot-to-rival-chatgpt-others.

8. Capoot, Ashley. “Health AI Startup Cercle Debuts with Backing from Sheryl Sandberg.” CNBC, 8 Nov. 2023, www.cnbc.com/health-ai-startup-cercle-debuts-with-backing-from-sheryl-sandberg.