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

M&A booms at the top end of the market

Aggregate deal value in EMEA surged by 24.5% year-on-year to almost €1.2tn. This was achieved despite the number of transactions dipping by 3% to 19,097, with activity tilting toward fewer but significantly larger deals, especially in H2 2025.

TMT trending

Most of EMEA’s very largest deals were TMT-related, pushing aggregate value in the sector to €252.1bn, an increase of 23.3% year-on-year, as capital continued to concentrate around cybersecurity and digital connectivity assets. TMT also led in volume terms with 3,872 transactions announced, though this did represent a 9.7% decline from 2024.

Regional outlook

EMEA’s forward-looking M&A pipeline is deep with 2,258 ‘companies for sale’ stories, and is notably multipolar. DACH (407) and the UK & Ireland (377) sit at the top, with Türkiye, Middle East & Africa (360) and Central & Eastern Europe and Southern & Eastern Europe (CEE & SEE, 295) close behind.

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