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For years, Chicago’s corporate landscape has been shaped by execution over experimentation — known more for mastering supply chains, scaling franchises, and refining legacy products than for bold bets on disruptive technology. Some argue this entrenched pattern has led to an overly cautious acquisition culture that spans industries.
Unlike coastal giants that treat acquisitions as a core growth strategy, many of Chicago’s legacy firms have historically taken a more conservative approach.
Sears missed the eCommerce wave. McDonald’s outsourced delivery innovation. Allstate was late to the InsurTech boom. Even today, corporate development teams in Chicago often prioritize partnerships and internal R&D over bold buyouts. This has resulted in fewer homegrown M&A exits and limited strategic capital for early-stage founders, especially compared to areas like San Francisco and New York.
The Signal for Change: Motorola Eying Silvus Technologies
That’s why Motorola Solutions’ interest in acquiring Silvus Technologies is worth watching. Silvus, a CA-based company building tactical mesh networking systems, fits neatly into Motorola’s public safety portfolio – but it also marks something bigger: one of Chicago’s most iconic tech companies leaning into strategic acquisition to expand its core capabilities. While Motorola has made several acquisitions historically, none have approached the reported $4.5B purchase price being discussed (the company’s purchase of CyberTech International for $550M in January of this year is the next closest). This could signal a broader shift in how Chicago incumbents think about innovation.
Why It Matters
Buy-side velocity needs to match build-side talent in order to sustain a self-reinforcing tech economy. As Chicago’s startup scene matures, the lack of local acquirers has created some friction in the ecosystem. Founders with momentum can often feel pulled toward the coasts, chasing buyers who better understand the value of what they’ve built and are more likely to shell out cash for inorganic growth.
If more Chicago-based corporations start to play offense – by acquiring instead of simply partnering – it could unlock a regional flywheel: one that rewards builders, recycles capital, and strengthens the case for staying local.
What Next?
Chicago has always taken pride in building things that last. But as the pace of innovation accelerates, acquiring the right startup at the right moment is no longer a luxury, it’s a necessity.
If the Silvus deal goes through, it might just be a spark. One that turns cautious observers into confident buyers.