If you want to understand the themes that drive an industry, simply look at the list of recent mergers and acquisitions (M&As). This report analyzes the disruptive themes that have driven M&A activity in Q2 2025 across all sectors including materials, consumer, energy, financials, healthcare, industrials, technology, media & telecoms.
The global M&A market in Q2 2025 witnessed deals worth $564 billion, a growth of 11% compared to Q2 2024. The TMT sector led the M&A deal activity, with deals worth $169 billion recorded in Q2 2025. A few sectors saw a year-on-year fall in deal value in Q2 2025. Mega-deals (defined as any deal valued at more than $1 billion), recorded deal value worth $438 billion in Q2 2025 compared to $360 billion in Q2 2024.
The global M&A market in Q2 2025 witnessed deals worth $564 billion, a growth of 11% compared to Q2 2024. The TMT sector led the M&A deal activity, with deals worth $169 billion recorded in Q2 2025. A few sectors saw a year-on-year fall in deal value in Q2 2025. Mega-deals (defined as any deal valued at more than $1 billion), recorded deal value worth $438 billion in Q2 2025 compared to $360 billion in Q2 2024.
Scope
- This report provides an overview of merger and acquisition activity globally in Q2 2025 across all sectors. This report takes a close look at the top deals in all the sectors and identifies the themes driving each of these deals. This report also looks at the deals trend across North America, Europe, China, APAC Ex-China, South America, and Middle east and Africa.
Reasons to Buy
- Companies that invest in the right themes become success stories; those that miss the big themes end up as failures. If you want to understand the themes that drive an industry, simply look at the list of recent mergers and acquisitions (M&As).
Table of Contents
- Executive Summary
- Review of the Global M&A Market - Q2 2025
- Top M&A Deals by Sector - Q2 2025
- Top M&A Deals by Geography - Q2 2025
- Top Themes Driving M&A Activity - Q2 2025
- Further Reading
- Appendix 1: Deal Selection Criteria
- Appendix 2: Thematic Research Methodology
- About Us
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Charter Communications
- Nippon Telegraph and Telephone
- Meta Platforms
- Salesforce
- OpenAI
- Global Payments
- GTCR
- Brown & Brown
- Erste Group Bank
- Mediobanca
- NRG Energy
- Blackstone Infrastructure
- Brookfield Infrastructure Partners
- Sunoco
- Stonepeak Partners
- 3G Capital
- Kilani Group
- SRS Distribution
- DoorDash
- Marfrig Global Foods
- Sanofi
- Merck
- AbbVie
- GSK
- Novartis
- Allison Transmission Holdings
- Honeywell
- Pan American Silver
- Zijin International Holdings
- Acuren
- Erste Group Bank
- Groupe BPCE
- KKR
- Tencent Music
- Inner Mongolia Yitai Coal
- Focus Media Information Technology (Focus Media)
- CPF Investment
- Prio Tigris
- Typewriter Ascend
- Vista Energy Argentina
- Global Infrastructure Partners
- Coinbase Global
- TWG Global
- Exxaro Resources
- Shell Nigeria Exploration and Production
- Capital Power
- Siemens
- AT&T
- Motorola Solutions
- Casa del Fuego Family Office and Trust
- Silver Lake
- Banco Santander
- Woodside Energy Group
- S&P Global
- CME Group
- Itochu
- Equinor Brasil Energias
- Bohai Leasing
- Vale
- OM Holdings
- Hummel Station
- Insight Venture Management
- The Resolute Fund IV
- Boston Pharma
- Cox Communications
- NTT DATA Group
- Scale AI
- Informatica
- io Products
- Worldpay
- FIS
- RSC Topco
- Santander Bank Polska
- Banca Generali
- LS Power
- TXNM Energy
- Colonial Enterprises
- Parkland
- Louisiana LNG Infrastructure (Driftwood LNG)
- Skechers
- Societe Tunisienne d'Automobiles
- GMS
- Deliveroo
- BRF
- Blueprint Medicines
- Springworks Therapeutics
- Efimosfermin
- Capstan Therapeutics
- Regulus Therapeutics
- Dana
- Johnson Matthey
- MAG Silver
- Zangge Mining
- NV5 Global
- Santander Bank Polska
- Novo Banco (novobanco)
- OSTTRA Group
- Ximalaya
- Shandong Xinchao Energy (Yantai Xinchao Industry)
- Chengdu Xinchao Media Group (Xinchao Media)
- C.P. Pokphand
- Global Sea Containers (Seaco)
- Petronas E&P Argentina
- Alianca Geracao de Energia
- Deribit
- Mubadala Capital
- Ntsimbintle Holdings
- TotalEnergies EP Nigeria
- Rolling Hills Generating
- Dotmatics
- Lumen Technologies
- Silvus Technologies
- Digital Global Systems
- Altera
