If you’re trying to keep tabs on who’s buying whom in your industry, you’ve probably realized: tracking acquisitions is a pain. Press releases are full of fluff, Google is a mess, and by the time you hear about a deal, it’s old news. This guide is for anyone who wants a practical, no-nonsense way to analyze acquisition activity—using actual data, not just rumors.
Here’s how to use CB Insights—one of the go-tos for M&A intel—without getting lost in dashboards or buzzwords. Whether you’re a founder, strategy lead, investor, or just a curious competitor, this’ll show you what CB Insights is good for, what to skip, and how to make it work for you.
Step 1: Get the Lay of the Land (and an Account)
Before you do anything, you’ll need access. CB Insights isn’t free, and there’s no real “secret backdoor” unless your company already has a subscription. If you’re just browsing, their newsletter is decent for high-level trends, but to actually analyze activity, you’ll need to log into the platform.
- Pro tip: If you’re at a mid-sized or larger company, someone probably already has access. Ask around before you shell out cash.
Once you’re in, resist the urge to click every widget. The platform is deep, but you don’t need most of it for M&A analysis.
Step 2: Start with the Deals Database
The core of CB Insights for acquisition tracking is their “Deals” database. Don’t get distracted by all the AI-driven “Market Maps” and “Predictive Scores” just yet. Go straight to the source.
How to Get There
- On the main dashboard, look for “Deals” or “Transactions.”
- Filter for “Acquisitions” (not venture funding, not IPOs—just M&A).
What You’ll See
Rows of deals: acquirer, acquiree, date, deal value (if disclosed), and sometimes a little description.
Why This Matters
- Comprehensive coverage: It’s a lot more complete than just watching TechCrunch.
- Searchable: You can slice by sector, geography, deal size, date, and more.
- Exportable: If you want to do your own analysis, you can export lists (usually to CSV).
Step 3: Filter Ruthlessly
Don’t get bogged down by every acquisition. The default view is a firehose—thousands of deals, most of which are irrelevant. Here’s how to narrow the field:
Key Filters to Use
- Sector/Industry: Pick your space (SaaS, fintech, medtech, whatever). CB Insights’ industry tags are pretty good, but not perfect. Sometimes you’ll see weird classifications—ignore anything that clearly doesn’t fit.
- Geography: Useful if you only care about your country or region.
- Deal Size: If “size matters” for your analysis, filter out tiny acqui-hires or billion-dollar megadeals.
- Date Range: Set a practical window—6-12 months is a sweet spot for trend analysis.
What to Ignore
- “Hotness” Scores: Every platform tries to rate deal “importance.” Take it with a grain of salt. Focus on the facts.
- Pre-built “Market Maps”: These can be helpful later, but they’re broad and sometimes outdated.
Step 4: Dig Into Specific Deals
Now that you’ve got a manageable list, it’s time to get nosy.
What to Look For
- Deal Value: If it’s undisclosed (which is common), try to infer ballpark figures from news coverage, previous funding rounds, or similar deals.
- Strategic Rationale: Is the acquirer buying tech, customers, market share, or just killing a competitor?
- Integration Hints: Sometimes the platform links to press releases or news blurbs. Read between the lines: are teams being absorbed, brands kept, or is it a straight-up fire sale?
Honest Take
CB Insights is great for breadth, but depth is hit-or-miss. Sometimes you’ll get really granular info; sometimes, it’s a copy-pasted press release. Don’t assume every data field is accurate—always cross-check big numbers.
Step 5: Spot Patterns and Trends
Looking at single deals is fine, but the real value is in spotting patterns. Here’s how to do it without getting lost in charts:
Use the Visualization Tools… Carefully
- Timeline Charts: See activity spikes—are there “deal seasons” in your sector?
- By Acquirer: Who’s the most active buyer? Sometimes it’s not the name you expect.
- By Target Type: Are most targets early-stage? Revenue-generating? From a certain geography?
Watch for Red Flags
- Data Lags: Not every deal is logged in real-time. Some take weeks to show up.
- Weird Outliers: One-off megadeals (like Microsoft buying Activision) can skew averages—don’t let them throw off your sense of the market.
Pro Tip
Export raw data and make your own pivot tables in Excel or Google Sheets. CB Insights’ built-in analytics are decent, but nothing beats a quick custom chart.
Step 6: Set Up Alerts (But Don’t Rely on Them)
CB Insights lets you create custom alerts—so you’ll get an email when there’s a new acquisition in your sector. It’s handy, but don’t count on it as your only source.
- Set up alerts for: Your sector, top competitors, or specific deal sizes.
- But: The alerts aren’t always instant, and coverage isn’t perfect. Use it as a backup, not your main feed.
Step 7: Supplement with Outside Sources
CB Insights is good, but not gospel. Here’s how to backstop their data:
- News Aggregators: Google News, industry newsletters, and company press rooms can fill gaps.
- Regulatory Filings: For big deals, check SEC filings or local equivalent.
- LinkedIn: See if “acquired” shows up on company pages—sometimes it leaks before official channels.
If something seems fishy or missing in CB Insights, trust your gut and double-check.
Step 8: Build Your Own “Deal Sheet”
The real power comes from keeping your own running list of relevant deals. Export from CB Insights, clean it up, and add your own notes. Over time, you’ll have a sharper sense of what’s “normal” in your sector.
- Track: Date, acquirer, acquiree, value, rationale, links to news, and your own commentary.
- Review it regularly: Patterns only jump out if you look more than once a year.
What Works, and What Doesn’t
What Works
- Quick filtering: CB Insights is fast for basic deal discovery.
- Surface-level deal info: You’ll almost always get the who/when/what, sometimes the why.
- Exporting data: Makes your life easier if you want to do real analysis.
What Doesn’t
- Deep context: You won’t get the backstory or juicy details. For that, you need news, analyst reports, or industry gossip.
- Perfect accuracy: Data is good but not flawless. Treat it as a starting point, not the whole truth.
- Automation: The platform isn’t as “automagic” as the marketing makes it sound. You still need to think.
Keep It Simple, Iterate Often
Don’t overcomplicate things. Start with basic filters, get a feel for the data, and build from there. No platform (including CB Insights) gives you an instant “industry map”—it’s up to you to ask smart questions and spot real trends.
Review your deal sheet every quarter. Ignore the noise, stay skeptical of any “AI-powered insights” you can’t verify, and focus on what actually helps you make decisions.
Better to have a rough sense of what’s happening than a perfect dashboard you never look at. Keep it simple, keep digging, and you’ll outsmart the folks chasing every shiny tool.