Global Activity North America Deal value increased 9% year-over-year to $1.7 trillion, driven by a 27% increase in technology deal value and a 39% increase in sponsorled buyout value. Utility and energy M&A surged, up 80% in value to $137 billion. Asia-Pacific Deal value increased 3% year-over-year to $790 billion. Eight out of the 10 largest transactions in the region were announced in the second half of the year, hinting at the potential for a larger resurgence in 2025. Europe, the Middle East, and Africa Deal value increased 10% yearover-year to $840 billion. Deals involving financial sponsors rose 36% in value, with takeprivate transactions in Europe surging to a record 95 deals. Technology The technology sector saw $640 billion in deal activity, up 16% from 2023. As our 2024 2 For more insights from tech dealmakers, visit MoFo’s 2024 Tech M&A Survey. Tech M&A Survey revealed, dealmakers continue to exhibit strong enthusiasm for AI and machine learning technologies, with 47% of respondents predicting these areas will present the greatest M&A opportunities over the next 12 months. Notably, cybersecurity surpassed AI as the top subsector of focus for technology dealmakers, underscoring risk mitigation as a priority for those involved in technology transactions.2 Life Sciences Life sciences M&A deal value in 2024 declined from 2023, but healthcare still was the second largest M&A segment, with 10% of global M&A value, following 19% of global M&A value for the tech sector. Larger life sciences companies continue to need to fill their pipelines, and lower interest rates are expected to facilitate larger deals in 2025. Private Equity After a sluggish 2023, private equity (“PE”) deal activity increased by 34% in value in 2024, with technology accounting for 32% of buyout value. Sponsor exit value rose 25% in 2024, including 28 IPOs. Our 2024 Tech M&A Survey indicates that sponsor sentiment is high for 2025, with 57% of PE respondents forecasting an increase in the number of deals over the next 12 months. Looking Forward Looking ahead to 2025, sentiment in the global M&A market is optimistic, driven by a reduction in interest rates across the United States and Europe, the resolution of several key national elections, and strong equity markets, along with the continuing need for strategic adaptation and growth. Geopolitical issues remain at the forefront, and the outlook for inflation and interest rates is uncertain, but potential shifts in policies under the Trump administration will bring both opportunities and uncertainties as the market prepares for regulatory changes, corporate tax cuts, and tariffs. Learn more about Morrison Foerster’s Global M&A Practice. Overview 2 Morrison Foerster
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