Also in May, TPG Capital picked up a majority stake in accounts payable automation and payments software provider AvidXchange for $2.2B at 4.2 times revenue.  

In May, cryptocurrency derivatives exchange platform Deribit was acquired by Coinbase, one of the top acquirers in the first half, for $2.9B. Deribit's robust options platform complements Coinbase’s rapidly growing US futures and international perpetual futures businesses. 

In April, Global Payments sold its Issuer Solutions business to FIS for $12B at 5.5 times revenue. This acquisition will expand FIS’ product payment suite and deepen their relationships with financial institutions and corporate clients. 

In June, a POS software & systems developer Cantaloupe was acquired by 365 Retail Markets for over $828M at 2.8 times revenue. The acquisition will help accelerate product innovation and provide cross-selling opportunities across the value chain.

Also in April, Hidden Road, an online credit network brokerage services developer, was picked up by EDI software provider Ripple Labs for over $1.2B, expanding its institutional services and making Ripple Labs the first crypto company to own and operate a global, multi-asset prime broker. 

Another major buyer Clearwater Analytics acquired US-based investment management software provider Enfusion for $1.5B at 7.5 times revenue in April. The acquisition accelerates Clearwater Analytics’ vision of building the first cloud-native front-to-back platform for the entire investment management industry.