We start our wrap with the announcement that Confluent, an open-source enterprise data streaming platform, has been bought by IBM for USD 31 per share, which represents an enterprise value of USD 11bn.

Confluent connects, processes and governs reusable and reliable data and events in real time – attributes that are foundational to deploying AI. And as a result of the acquisition IBM and Confluent will be able to provide end-to-end integration of applications, data systems and AI agents.

Transaction rationale:

• Strategic fit: Confluent aligns with IBM’s hybrid cloud and AI strategy, as global data is set to more than double by 2028 and more than one billion new applications will emerge. The acquisition complements IBM’s Data and Automation portfolio and builds on its Red Hat and HashiCorp purchases.
• Strong synergy opportunities: The deal is expected to drive product synergies across IBM’s AI, Automation, Data and Consulting businesses while leveraging IBM’s sales reach to accelerate revenue growth. Operational efficiencies are also anticipated through IBM’s scale.
• Attractive financial profile: IBM expects the acquisition to boost growth over time, with the transaction becoming accretive to adjusted EBITDA within the first full year and free cash flow positive in year two post-close.

The deal is expected to complete by the middle of 2026.

In other news:

• AI-powered advertising optimization platform Scowtt raises $12mn Series A round
  Inspired Capital alongside LiveRamp Ventures, Angeles Investors and Angeles Ventures have invested in Scowtt’s Series A round of funding. The company, which uses advanced predictive AI models to optimize how their paid campaigns perform, will use the funding to build the next generation of adtech, which it says is a closed-loop system where businesses automate marketing performance using CRM intelligence while also using Agentic AI to identify and complete sales.
• ChemLex raises $45mn led by Granite Asia
  ChemLex, an AI-for-science company, has raised USD 45mn in funding led by Granite Asia. The company, which develops AI technologies that accelerate discovery for the pharmaceutical industry, will use the funding to hire more hardware and software engineers as well as chemists in Singapore. This will enable it to serve a broader pipeline of pharmaceutical and materials science projects.
• Tata Communications acquires 51% stake in AI platform Commotion
  Tata Communications has acquired a 51% stake in Commotion, an AI-native enterprise SaaS platform company with operations in the US and India. The acquisition strengthens Tata Communications’ AI-led digital transformation strategy and advances its goal of becoming an AI-first organisation, enabling enterprises to scale from AI experimentation to business-critical deployment. It also accelerates AI integration across Tata Communications’ digital fabric offerings, particularly within its customer interaction suite, which includes Tata Communications Kaleyra.
• Generative AI platform Any format closes €3.3mn seed round
  Kibo Ventures has led the EUR 3.3mn seed round for Anyformat, a generative AI platform that extracts and structures complex data from documents.
  Other investors were 4Founders, Abac Nest Ventures and Decelera Ventures, all of which invested in the company’s previous round.
  Anyformat says its technology enables large organizations to process contracts, invoices, emails or presentations with human-level accuracy at machine speed.
• ‘Ask-and-it’s-done,’ Pine raises $25mn Series A round
  Pine, an AI agent for consumers’ digital chores, has raised USD 25mn for its Series A funding round from Fortwest Capital and other investors. The investment enables Pine to expand its go-to-market efforts, grow its U.S. operations and advance its ask-and-it’s-done autonomous digital agent that makes calls, handles emails and operates software.