The areas that saw the most M&A activity in the first three months of 2026 were IT Services with 6 acquisitions, representing 14% of total transaction volumes, closely followed by Industry-specific Applications with 6 deals, equal to 14% of the total. Also, there were 5 transactions in the Internet Content and Commerce subsector, representing 12% of deal volumes. Other noteworthy subsectors include Enterprise Resource Planning, Security, and Business Intelligence.