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Targets in Wyoming

Wyoming M&A Overview — Business Sale Activity for M&A Targets

In Q3 2026, Wyoming-linked M&A activity included 13 transactions representing $38.5 million of aggregate disclosed transaction value. Twelve transactions involved Wyoming-based companies or assets, while one involved Alyze AI Metrics Corporation, a Wyoming-incorporated company whose operating presence is based in Florida. Only one transaction carried a disclosed value, meaning Datavault AI's proposed acquisition of Wyoming Deposit & Transfer Corp. accounted for 100% of the quarter's disclosed total; excluding that transaction, no transaction values were disclosed. Buyer activity was predominantly interstate and cross-border, while technology and software, financial services and insurance, and mineral and resource transactions emerged as prominent themes alongside construction services, telecommunications, and automotive products.

The quarter's largest and only disclosed transaction was Oregon-based Datavault AI's $38.5 million agreement to acquire Cheyenne-based Wyoming Deposit & Transfer Corp., which operates BankWyse. The transaction would add a Wyoming special purpose depository institution platform to Datavault AI's broader digital-asset and data ecosystem. Financial services activity also included Tucson-based Crest Insurance Group's acquisition of Pinedale-based Tegeler and Associates and Farm Bureau Insurance Company of Idaho's acquisition of Laramie-based Mountain West Farm Bureau Mutual Insurance Company. Technology activity included ReSpark's acquisition of Sheridan-based UptimePM, Contact Center Compliance's acquisition of Sheridan-based Pure CallerID, and China Solar & Clean Energy Solutions' acquisition of Alyze AI Metrics Corporation, a Wyoming-incorporated, Florida-based artificial intelligence company. Clearwave Fiber also agreed to acquire Gillette-based Visionary Communications, while F2 Strategy acquired Jackson Hole-based Callaway Cloud Consulting. Resource activity included two separately recorded July 29 transactions in which Vancouver-based URZ3 Energy expanded its Wyoming mineral position.

The quarter reinforced Wyoming's ability to attract strategic and institutional capital across a broad range of industries and transaction structures. While limited value disclosure prevents meaningful conclusions regarding statewide valuation levels, activity across technology, insurance, financial infrastructure, telecommunications, construction, and natural resources demonstrates continued buyer interest in Wyoming companies, assets, and corporate entities.

Wyoming — Strategic vs. Sponsor-led Activity

Wyoming — X / Y Plot By Sector

Wyoming — M&A Segmentation

Wyoming — Sector Breakdown

Second Level Primary Industry Breakdown

Wyoming M&A Deal Summaries — Business Sale Activity for M&A Targets

The following transactions represent M&A activity where the target entity is headquartered in described geography, in line with the traditional reporting on target M&A deal volume and metrics captured in the charts and conventional analysis above.

CarTablet and MotorTablet (7/10/2026)
Private Label MFG of South San Francisco, CA, acquired Wyoming-based CarTablet and MotorTablet, adding two automotive brands that will continue operating independently.
UptimePM, LLC (7/13/2026)
Respark Software, Inc. of Sacramento, CA, acquired UptimePM, LLC of Sheridan, WY, adding complementary maintenance software that will operate alongside the core ReSpark platform as ReSpark Maintenance.
Pure CallerID LLC (7/28/2026)
Contact Center Compliance Corporation of Santa Rosa, CA, acquired Pure CallerID LLC of Sheridan, WY, combining the businesses under the newly formed Sonera brand.
Additional Mining Claims (7/29/2026)
URZ3 Energy Corp. of Vancouver, Canada, acquired additional mining claims in the Powder River Basin, WY, expanding its mineral position in the basin alongside additional Wyoming state mineral leases.
Mineral Rights (7/29/2026)
URZ3 Energy Corp. of Vancouver, Canada, acquired mineral rights in Wyoming through a lease agreement, adding further mineral acreage to its Wyoming resource portfolio.
Xycota Biosciences LLC (8/5/2026)
Nextel Medical Corp. of Saint Petersburg, FL, signed a letter of intent to acquire Xycota Biosciences LLC of Sheridan, WY, seeking to add the Wyoming health-care technology business to its platform.
All Electric, LLC (8/13/2026)
Kelso Industries, LLC of Draper, UT, acquired All Electric, LLC of Gillette, WY, adding a Wyoming electrical contracting business to its construction and engineering platform.
Wyoming Deposit & Transfer Corp. (8/19/2026)
Datavault AI Inc. of Beaverton, OR, agreed to acquire Wyoming Deposit & Transfer Corp. of Cheyenne, WY, for $38.5 million, adding the BankWyse banking platform and its Wyoming special purpose depository institution capabilities to Datavault AI's broader ecosystem.
Tegeler and Associates (8/31/2026)
Crest Insurance Group, LLC of Tucson, AZ, acquired Tegeler and Associates of Pinedale, WY, expanding the CIVC Partners-backed insurance brokerage platform into Wyoming.
Alyze AI Metrics Corporation (9/3/2026)
China Solar & Clean Energy Solutions, Inc. of Lake Mary, FL, acquired Alyze AI Metrics Corporation of Coconut Creek, FL, a WY-incorporated company, expanding the buyer's presence in artificial intelligence and neuroscience technologies.
Visionary Communications, LLC (9/8/2026)
Clearwave Fiber LLC of Savannah, GA, entered into a definitive agreement to acquire Visionary Communications, LLC of Gillette, WY, combining telecommunications capabilities while supporting further growth across the western United States.
Mountain West Farm Bureau Mutual Insurance Company (9/9/2026)
Farm Bureau Insurance Company of Idaho of Pocatello, ID, acquired Mountain West Farm Bureau Mutual Insurance Company of Laramie, WY, expanding the broader organization while preserving Mountain West's existing brands, local agent relationships, and Laramie operating hub.
Callaway Cloud Consulting LLC (9/24/2026)
F2 Strategy LLC of Chicago, IL, acquired Callaway Cloud Consulting LLC of Jackson Hole, WY, adding wealth-management technology consulting capabilities ahead of Callaway's planned transition to the F2 Strategy brand.

M&A Segmentation — Glossary:

M&A – Whole: The acquisition of 100% ownership of a target company, giving the buyer full control.
M&A – Asset: The purchase of specific assets, such as mineral rights or property, without acquiring the entire company.
M&A – Minority: The acquisition of a non-controlling stake, typically under 50%.
M&A – Spinoff or Splitoff: The divestiture of a business unit into a separate entity or distribution of subsidiary shares to shareholders.

Deal Terms — Glossary:

Transaction Value: Represents the total consideration paid for a transaction, including net debt only if assumed, capturing the full financial scope of the deal.
Deal Value: Focuses solely on the consideration paid for the equity acquired, excluding net debt, to reflect the cost of ownership.
Implied Enterprise Value: Provides a standardized measure of the target’s total entity value, incorporating 100% of the enterprise including net debt, for consistent comparison with metrics like LTM EBITDA and Revenue.
Implied Equity Value: Isolates the equity portion, representing 100% of the target’s equity value, enabling a clear equity-to-equity comparison across transactions.

Q3 2026 | Wyoming M&A Insights

Q2 2026 | Wyoming M&A Insights