In the first quarter of 2025, 35% of sellers utilized SaaS business models and at least 14% were developing deep tech such as AI. Looking at deal sizes, disclosed M&A transaction values for the sector ranged from $1.21K to $535M, with the median disclosed M&A value coming in at $27M. The median disclosed revenue exit multiple in the Wireless Access subsector was 5.3 times followed by the Enterprise Networking subsector at 4.3 times.