Moving on the sellers by geography, dealmaking was concentrated in the USA as it was home to 38% of sellers followed by the United Kingdom at 9%. The Netherlands was home to 6% of sellers and Germany and France both represented the headquarters of 5% of targets. There was also significant activity in Japan and Australia.

Pivoting to buyers by geography, the hubs remained similar: 39% of acquirers were based in the US followed by the United Kingdom at 12%. Furthermore, France was home to 7% of acquirers followed by the Netherlands at 6% and Sweden, Australia and Germany at 3% each. Dealmaking remained international with 31% of transactions being cross-border.