Tech M&A deals: Vanta, Pillar Security, EXL, Aimpoint Digital, eToro, LB Finanzas

Vanta agreed to acquire AI security startup Pillar Security for $150M in cash and shares. Pillar's founders and 20+ employees will join Vanta, forming its Israeli R&D center. Vanta plans to integrate Pillar's runtime security by 2027 and launch AI Governance as a paid offering. Pillar's platform detects and protects AI applications, with research highlighting vulnerabilities in n8n and Google's Gemini.

eToro Group Ltd (ETOR) reported Q3 2026 results: net income fell 74% Y/Y to $15M, adjusted net income dropped 60% to $24M, and net contribution declined 13% to $186M. Funded accounts rose 18% Y/Y to 4.39M. The company expanded trading, investing, wealth management, and neo-banking services, and announced a $250M share repurchase program.

eToro agreed to acquire LB Finanzas, an Argentine financial app, to expand its Latin American presence. LB Finanzas offers stocks, ETFs, crypto, and payment services to hundreds of thousands of users. This is eToro's fourth acquisition in 2026, following deals for Zengo, Bit2C, and TradeZero. The deal is subject to closing conditions.

Moneyfarm rejected a takeover offer from eToro Group, which reportedly valued the company at €250M-€300M, according to sources familiar with the matter.

Citizens reduced its price target for eToro Group (NASDAQ:ETOR) to $75 from $90, citing a lower valuation multiple and discounted cash flow analysis. The stock is near its 52-week low at $25.26. Despite recent growth in funded accounts and assets under administration, other firms like Mizuho and BofA Securities have also lowered their price targets. eToro's management is seen as strong, and the company has significant excess capital.

Bank of America raised price targets for Robinhood (HOOD) to $156 and Coinbase (COIN) to $203, both with 'Buy' ratings, while cutting eToro's (ETOR) target to $39 with a 'Neutral' rating. HOOD and COIN shares rose, while ETOR fell. HOOD is expected to report Q3 earnings of $0.64 per share on $1.4B revenue, with a long beat streak. COIN is expected to report a Q3 loss of $0.20 per share on $1.77B revenue, with recent misses.