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 10%. France and Germany were home to 6% & 5% of sellers and the Netherlands and Canada both represented the headquarters of 4% & 3% of targets. There was also significant activity in Sweden. 

Pivoting to buyers by geography, the hubs remained similar: 44% of acquirers were based in the US followed by the United Kingdom at 10%. Furthermore, France at 6% and Netherlands & Germany were both home to 5% of acquirers followed by the Sweden at 4%, Japan and Canada at 3% each. Dealmaking remained international with 22% of transactions being cross-border