Research Notes

Research Note: ServiceNow Acquires Cyber-Security Player Armis for $7.75 Billion

Steve McDowell December 31, 2025

ServiceNow recently entered into an agreement to acquire Armis, a cyber exposure management and cyber-physical security platform, for $7.75 billion in cash. The transaction is ServiceNow’s third major security-focused acquisition in 2025, following Moveworks ($2.85 billion) and Veza (undisclosed terms).

Research Note: IBM to Acquire Confluent for Real-Time Event Streaming

Steve McDowell December 11, 2025

IBM has entered a definitive agreement to acquire Confluent for $11 billion in cash ($31 per share), adding enterprise-grade Apache Kafka streaming infrastructure to its

Research Note: Lenovo’s Expanded Storage and HCI Portfolio for Enterprise Modernization & AI Workloads

Steve McDowell December 11, 2025

Lenovo announced a comprehensive update to its storage and hyperconverged infrastructure portfolio. The announcement includes four new ThinkSystem DS Series all-flash SAN arrays, three ThinkAgile HCI product lines supporting VMware, Nutanix, and Microsoft Azure Local environments, and expanded lifecycle services.

Research Note: Qualcomm Acquires RISC-V Player Ventana

Steve McDowell December 11, 2025

Qualcomm Technologies this week announced the acquisition of Ventana Micro Systems, a developer of high-performance RISC-V CPU designs for datacenter and enterprise applications. The acquisition brings proven RISC-V engineering talent and existing chiplet designs into Qualcomm’s portfolio, complementing its custom Arm-based Oryon CPU development.

What the 5G‑OT Alliance Summit Revealed About Private 5G

Michael McDowell December 9, 2025

2025 was defined more by adoption than by technical breakthroughs.

Research Note: Marvell to Acquire Silicon Photonics Player Celestial AI

Steve McDowell December 7, 2025

Marvell Technology recently announced a definitive agreement to acquire Celestial AI for $3.25 billion in upfront consideration ($1 billion cash plus $2.25 billion in stock), with potential earnout payments of up to an additional $2.25 billion based on revenue milestones through fiscal 2029.

Research Notes

Research Note: ServiceNow Acquires Cyber-Security Player Armis for $7.75 Billion

Research Note: IBM to Acquire Confluent for Real-Time Event Streaming

Research Note: Lenovo’s Expanded Storage and HCI Portfolio for Enterprise Modernization & AI Workloads

Research Note: Qualcomm Acquires RISC-V Player Ventana

What the 5G‑OT Alliance Summit Revealed About Private 5G

Research Note: Marvell to Acquire Silicon Photonics Player Celestial AI

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