The areas that saw the most M&A activity were Industry-specific Applications with 50 acquisitions in 2025, representing 22% of total transaction volumes, closely followed by IT Services with 41 deals, equal to 18% of the total. Also, there were 33 transactions in the Internet Content and Commerce subsector, representing 14% of deal volumes. Other noteworthy subsectors include Enterprise Resource Planning, Security, and Customer Relationship Management.