Tech M&A deal volume in the ANZ region has been steadily increasing in recent years. We saw 228 deals in 2025, up 8% annually and representing a new 10-year high. Private Equity firms were the buyers in 32% of these transactions as demand from strategic and financial buyers remained strong. 

VC funding for tech companies in the ANZ region peaked in 2021 and has been drying up ever since, a trend that continued throughout 2025. Both the total value of VC investments and deal volumes have dropped substantially. Sellers have instead been encouraged to pursue M&A strategies for growth and liquidity. 

The total value disclosed Tech M&A deal values in the ANZ region came in at $7.2B in 2025, with only 22% of transactions disclosing financial deal terms as buyers preferred to keep their M&A strategies private. 

Financial acquirer HgCapital topped the list with 5 transactions in 2025, and the buy-and-hold company Banyan followed with 4 acquisitions. Additionally, Vela APX,  Constellation Software, First Focus, and EQT each made 3 acquisitions in 2025.