What’s The Forecast for Tech M&A?

2025 Tech M&A Survey

Morrison Foerster is pleased to share with our clients and friends the results of our 2025 Tech M&A Survey, published in conjunction with Mergermarket. Mergermarket surveyed 300 dealmakers from around the world in order to gain valuable insights into the future of technology-related M&A.

According to the findings:

• 57% of respondents expect deal volumes to increase over the next 12 months, while 64% expect the average value of tech M&A transactions to rise over the same time period.

• 30% of respondents give Europe the highest ranking for tech M&A opportunities over the next 12 months, making it the region expected to offer the best prospects.
• 70% of respondents identify AI as a top-three subsector for dealmaking over the next 12 months, surpassing cybersecurity (54%), which led the prior two editions of the survey.
• 97% of PE dealmakers expect to use minority investments and 84% anticipate employing contingent consideration/earnouts in their tech M&A strategies over the next 12 months, while 84% of corporate respondents plan to rely more heavily on joint ventures to drive growth with reduced risk.

Released against a backdrop of diverging 2025 deal trends, the report highlights that while global tech sector deal volume fell 6.6% to 6,748 transactions between Q1-Q3, aggregate value surged 60.2% to $787.1 billion.

Read the report to learn more about these and other deal trends.

“As macroeconomic and geopolitical cycles accelerate in 2025, competition for high-quality assets is intensifying worldwide. In tech M&A, dealmakers are becoming increasingly selective, focusing on strategic investments that can deliver long-term competitive advantage. With AI and digital infrastructure shaping the future of the industry, investors are prioritizing opportunities that position them at the forefront of innovation.”

- Erik Knudsen, co-chair of Morrison Foerster’s global M&A practice