Let’s start by looking at M&A volume in the Communications Technology sector. We tracked 273 deals in 2024, up 22% compared to 2023, with financial buyers making up 41% of these transactions. PE firms acquired 112 companies in this sector.

Looking at the most prolific buyers, financial acquirer Focus Group and strategic buyer Link Mobility Group both made three acquisitions in 2024. Other strategic buyers that made the list include Gamma Communication and Bumble with two deals each, and financial buyers Main Capital Partners, Alpha Leonis Partners, Davenforth and American Securities all made two purchases each.

Disclosed M&A deal value reached $6.9B in 2024, exceeding last year’s total. Only 14% of transactions disclosed their valuations as buyers continued to closely guard the details around their M&A strategies.