Deal Drivers: APAC provides an in-depth review of M&A activity in 2025.

APAC makes an uneven rebound

Deal volume in the region was essentially flat year-on-year, declining by just 0.7% to 11,208 transactions. Total value, however, surged by 39.3% to just under US$1.2tn. This was lifted by 35 megadeals collectively worth US$416bn.

Sector imbalance

The I&C sector delivered the largest absolute increase, with deal value rising by 69.9% year-on-year to US$263.5bn, led by large corporate ownership restructurings in China, Japan, and India. Financial services saw an even sharper acceleration, with value nearly doubling to US$196.9bn, bolstered by state intervention in China to shore up the country’s banking sector. TMT grew more modestly, with value increasing 23% to US$165.9bn.

Regional outlook

APAC’s M&A pipeline is stocked with 1,448 ‘companies for sale’ stories, but the distribution is patchy. Greater China dominates with 542 stories, 37% of the total, while Australia & New Zealand (233), Southeast Asia (227), and India (207) form a second tier of activity.

Published in association with Datasite. The report is also available on datasite.com.