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The global software industry has experienced a significant surge in mergers and acquisitions (M&A) activity over the past decade. From 2015 to 2024, the annual number of software M&A deals increased by nearly , reaching transactions in 2024. This upward trend highlights the growing importance of consolidation and strategic partnerships within the software sector.

Peak deal values and sector dominance

While the number of deals has risen steadily, the total value of these transactions has fluctuated. The software industry saw its highest annual M&A deal value in 2021, reaching billion U.S. dollars. However, by 2024, this figure had decreased to billion U.S. dollars. Despite this decline, the technology, media, and telecommunications (TMT) sector, which includes software, continues to lead in global M&A activity. In 2024, TMT deals totaled approximately *** billion U.S. dollars, surpassing other major sectors such as energy, mining, and utilities.

Notable acquisitions and market disruption

High-profile acquisitions continue to shape the software landscape. In 2025, Google's acquisition of Wiz for ** billion U.S. dollars marked the largest software company acquisition that year. This move is expected to have significant implications for the cloud security market, demonstrating how major players are leveraging M&A to expand their capabilities and disrupt existing markets. Such large-scale acquisitions underscore the ongoing consolidation trend and the strategic importance of software in the broader technology ecosystem.