Full Year 2025 Finance Industry Trends

2025 KEY HIGHLIGHTS

At $24.3 billion, Global Payments’ acquisition of Worldpay Group, a leading payments technology company with unique capability to power global omni-commerce, was the largest transaction of 2025 in the Financial Technology & Information industry.

There were 110 financially sponsored transactions in 2025, with an aggregate value of $25.53 billion, representing 21 percent of the total volume and 23 percent of the total value, respectively.

2025 KEY TRENDS

Total transaction volume in 2025 increased by 40 percent over 2024, from 383 to 535.

Total transaction value in 2025 more than doubled over 2024, from $42 billion to $112 billion.

The median revenue multiple increased from 2.6x in 2024 to 3.5x in 2025.

M&A MARKET OVERVIEW

Berkery Noyes tracked 1,312 Financial Technology and Information transactions between 2023 and 2025, of which 297 disclosed financial terms, and calculated the aggregate value to be $173.8 billion. Based on known transaction values, we project values of 1,015 undisclosed transactions to be $23.3 billion, totaling $197.1 billion worth of transactions tracked over the past three years.

Disclosed median enterprise value multiples for all segments combined in this report during the last 36 months were 3.21x revenue and 16.51x EBITDA.

Over the past three years, deals in the $10-$160 million range received a median enterprise value multiple of 2.8x revenue, compared to 4.9x revenue for those in the $160 million and above range.