Recent achievements in research of heterojunctions fabricated using surface activated bonding (SAB), one of the practically useful direct wafer bonding technologies, are discussed. The response of bonding interfaces to post-bonding annealing is focused. These junctions reveal high thermal tolerance (1000 ○C in case of junctions made of widegap materials) despite difference in coefficients of thermal expansion between bonded materials. Defect layers with a several-nm thickness formed by the surface activation process at the as-bonded interfaces get faint and their electrical and mechanical properties are improved by annealing. These results show that as bonded interfaces are in a metastable state, and novel functional devices are likely to be realized by applying wafer processing steps to SAB-based junctions. Characteristics of III-V//Si multijunction solar cells, GaN-on-diamond high electron mobility transistors, and metal-foil based low-loss interconnects that are fabricated by processing SAB-based junctions are described, and the future prospects are presented.