For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In May alone, we added more than 1,400 new private company transactions, bringing the total to over 24,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 communication service transactions.
- Transaction Date: 5/5/2026
- Industry: Wireless Telecommunication Services
- Type: Acquisition / Merger
- Transaction Value: $5.8B
Vodafone agreed to buy out CK Hutchison's 49% stake in VodafoneThree for £4.3 billion, taking full ownership of the UK's largest mobile operator at an implied enterprise value of £13.85 billion. The move comes roughly a year after the Vodafone UK and Three UK merger completed, with integration progressing ahead of schedule and Vodafone targeting £700 million in annual cost and capex synergies by FY30.
- Transaction Date: 5/11/2026
- Industry: Media
- Type: Acquisition / Merger
- Transaction Value: $1.5B
Apollo has agreed to acquire both Emerald Holding (at $5.03 per share, a 42% premium, implying ~$1.5 billion enterprise value) and privately-held Questex, with plans to combine them into a leading North American B2B events and media platform with approximately 160 events across complementary end markets. The combination pairs Emerald's category-leading trade shows with Questex's year-round digital engagement model, creating a scaled platform Apollo believes is well-positioned to capitalize on growing demand for in-person professional gatherings.
- Transaction Date: 5/1/2026
- Industry: Interactive Media & Services
- Type: Acquisition / Merger
- Transaction Value: $1.2B
Genius Sports completed its acquisition of Legend, a digital sports and gaming media network behind properties including Covers.com and Casino.org, for up to $1.2 billion ($900 million upfront plus up to $300 million in earnouts), creating the only company operating both official sports data infrastructure and a scaled sports media and advertising platform. The combined entity is expected to generate approximately $1.1 billion in pro forma revenue in 2026, with Genius Sports targeting $1.6 billion in revenue and 35% EBITDA margins by 2028.
- Transaction Date: 5/8/2026
- Industry: Interactive Media & Services
- Type: Growth Equity
- Transaction Value: $535M
Architect Capital agreed to acquire a 16% stake in OnlyFans parent Fenix International for $535 million, valuing the company at approximately $3.15 billion, with plans to develop new financial services and products for the platform's creators. The deal comes weeks after the death of owner Leonid Radvinsky and follows a lengthy search for investors, with the platform's association with adult content having deterred many mainstream institutional buyers.
- Transaction Date: 5/12/2026
- Industry: Diversified Telecommunication Services
- Type: Acquisition / Merger
- Transaction Value: $411.5M
Verdane and Telenor agreed to establish a 50/50 joint ownership structure over Telenor Connexion, a top-ten global managed IoT services provider with 31 million SIM cards across 200+ countries, at an enterprise value of SEK 7.5 billion (~18x 2025 EBITDA). The deal gives Telenor approximately SEK 3.8 billion in upfront cash while both parties commit to invest an additional SEK 2 billion to accelerate organic growth and acquisitions in the fast-growing IoT market.
- Transaction Date: 5/19/2026
- Industry: Diversified Telecommunication Services
- Type: Credit
- Transaction Value: $250M
BIG Fiber closed a $250 million debt facility led by Stonepeak Credit and La Caisse (formerly CDPQ), with an additional $100 million accordion feature, to fund network expansion and refinance existing debt. Proceeds will support a major multi-market buildout in Greater Atlanta adding over 205 route miles, bringing BIG Fiber's combined Atlanta and San Francisco Bay Area network to 850 route miles and over 3 million fiber miles by early 2027.
- Transaction Date: 5/21/2026
- Industry: Entertainment
- Type: Buyout / Private Equity
- Transaction Value: $150.7M
TruFin agreed to sell its 84.5% stake in Playstack Limited to Integrated Media Company for net proceeds of approximately £112.4 million, implying an enterprise value of £125 million for the UK-based games company. Following the sale, TruFin plans to return £70 million to shareholders via a tender offer at 140p per share, while retaining its interests in fintech businesses Oxygen and Satago.
- Transaction Date: 5/6/2026
- Industry: Diversified Telecommunication Services
- Type: Growth Equity
- Transaction Value: $107M
GCI Liberty acquired approximately 6% of Liberty Latin America from Searchlight Capital for ~$107 million, and is in discussions with Chairman John Malone to acquire additional high-vote Class B shares in exchange for newly issued GCI Liberty stock. The moves signal GCI Liberty's intent to meaningfully build its stake in Liberty Latin America, a leading connectivity provider operating across 20+ countries in Latin America and the Caribbean.
- Transaction Date: 5/11/2026
- Industry: Entertainment
- Type: Venture
- Transaction Value: $70M
Turkish mobile gaming startup Grand Games raised $70 million in a Series B round led by Balderton Capital's Growth Fund, with participation from Bek Ventures, Laton Ventures, and angel investor Mert Gur, bringing total funding to $103 million. The company's valuation increased nearly sixfold since its $30 million Series A in early 2025, reflecting continued investor appetite for Turkey's fast-growing gaming sector.
- Transaction Date: 5/14/2026
- Industry: Diversified Telecommunication Services
- Type: Acquisition / Merger
- Transaction Value: $49.6M
Intuitive Machines agreed to acquire Goonhilly Earth Station and COMSAT, adding 44 antennas and world-class deep space communications infrastructure in the UK to its integrated space-to-ground network for lunar and cislunar operations. The deal significantly expands Intuitive Machines' capacity for deep space communications, data relay, and positioning and navigation capabilities, strengthening its position as a single-source provider for commercial and government space missions.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
