Today’s M&A deals include announcements on Sandvik, Xanadu, Marine Thinking, Bystronic, Incredibuild Software, among others.
Sandvik buys QTE Manufacturing Solutions
Sandvik acquired QTE Manufacturing Solutions, a U.S.-based reseller specializing in CAM and 3D metrology software, to strengthen its direct footprint in the Midwest U.S. manufacturing software market and deepen its offering of digital manufacturing solutions. QTE had roughly SEK 45 million in revenue in 2024. The acquisition aligns with Sandvik’s strategy of integrating CAD/CAM, metrology and simulation tools (including Vericut and Verisurf) under its Machining & Intelligent Manufacturing business area. By acquiring the reseller channel, Sandvik accelerates its digital manufacturing vision, enhances its software-sales capability, and improves end-to-end manufacturing workflow visibility.
Xanadu Quantum Technologies merges with Crane Harbor Acquisition
Xanadu agreed to merge with Crane Harbor in a SPAC-style transaction that values the combined company at approximately US$3.6 billion (pro forma enterprise value ~US$3.1 billion) and will raise about US$500 million in gross proceeds. The purpose of the deal is to become the first publicly-traded pure-play photonic quantum computing company, enabling Xanadu to scale its modular photonic quantum computer systems and PennyLane software ecosystem. The strategy focuses on bringing quantum computing innovations—such as room-temperature modular photonic systems with lower error-correction overhead—into commercial markets. The listing accelerates innovation, capital access and visibility in the emerging quantum hardware/software sector.
Marine Thinking merges with Eureka Acquisition Corp.
Marine Thinking, a developer of autonomous ship navigation technologies (with “physical AI” for unmanned marine vessels), is merging with Eureka Acquisition Corp. in a business combination valued at approximately US$130 million pre-money via share consideration. The strategic aim is to scale autonomous marine vessel solutions (for freight, surveys, rescue, defense) and address the seafarer shortage. The technology innovation rests on low-cost, easy-to-assemble unmanned vessel platforms that shipbuilders can adopt. By listing publicly, the company seeks capital and market exposure to accelerate innovation in autonomous maritime systems and commercial deployment.
Bystronic purchases the business unit of Coherent
Bystronic is acquiring the “Tools for Materials Processing” business unit of Coherent, a division with ~US$100 million annual sales and ~400 employees. The purpose is to expand Bystronic’s portfolio into additional growth markets—medical devices, semiconductors and general manufacturing—by adding advanced laser-marking, drilling and micro-material-processing capabilities under the “Rofin” brand. The innovation centres on photonic and electronic component processing technologies. Strategically, Bystronic strengthens its vertical integration in materials-processing and gains complementary technology to its sheet-metal processing heritage, thereby bolstering global competitiveness.
Thasniya VP
