M&A Activity Overview

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PitchBook is the most trusted source for mergers and acquisitions data, research, and technology. Below are featured mergers and acquisitions reports, high-level data points and takeaways detailing M&A activity levels, deal value, and the most active M&A sectors.

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Find the biggest M&A deals, measure changes in deal volume, and track the ongoing effects of variables such as megadeals with PitchBook’s comprehensive data and research.

Why it matters

Global M&A reached a new peak in both deal count and value in2025,surpassing records set in 2021. This growth was largely driven by megadeals, which accounted for 56.6% of M&A value in a slower environment for small deals.
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Mergers and acquisitions at a glance

  • $4.93 trillion global M&A deal value in 2025, surpasses 2021 record

    $4.93T global M&A in 2025 surpassed the 2021 peak — driven by 122 deals over $5B, the highest count in a decade.

    Source report

  • Mega-deals generated $2.6 trillion, +28% YoY

    Mega-deals ($1B+) generated 56.6% of total value in 2025. The Trump deregulatory stance and AI infrastructure spending fueled the consolidation wave.

    Source report

  • 122 deals over $5 billion in 2025, 56.6% of M&A value

    Sub-$100M deal value fell ~25% YoY through Q3. The recovery is bifurcated: mega-deals are back. The middle market is not

    Source report

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Mergers and acquisitions research
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2025 Annual Global M&A Report

The 2025 Annual Global M&A Report provides an overview of key factors shaping global mergers and acquisitions, breaking down the industry by region and vertical.
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Q3 2025 Global M&A Report

The Q3 2025 Global M&A Report provides an overview of key factors shaping global mergers and acquisitions, breaking down the industry by region and vertical.
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M&A

Big-ticket deals push M&A value to all-time high

Volume reached nearly $5 trillion last year, with about 57% from mega-deals—the highest share in a decade.
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