Let’s start our analysis by looking at M&A deal volumes in the Communications Technology sector, which saw 261 transactions in 2025, up sharply from the annual performance in 2022 to 2023 and broadly flat with 2024 levels. Strategic buyers were active after making 151 deals, equal to 58% of the total. PE participation remained robust, reaching 110 deals or 42% of the total, signaling sustained PE confidence in CommsTech assets.

Looking at the most active buyers in the Communications Technology sector, two strategics - Bluewave Technology Group, Ai Software – closed 3 deals, and quite a few others completed a pair each. Among those were Comtel and Ooma along with PE firms like , Ariel Alternatives, MaasInvest, IFM Investors, Bpifrance and other investors like Nedvest Capital and Accelerasia. 

In 2025, disclosed M&A deal values reached $8.2 billion, well above 2023 and 2024 levels. Only 14% of transactions disclosed their financial terms as buyers preferred to keep their M&A strategies private. Deal flows reflected fewer megadeals and a continued focus on mid-market tuck-in acquisitions.