Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Global M&A trends in technology, media, and telecommunications in Simple Termsand what it means for users..
Take-private momentum builds into 2026
Several landmark take-private deals in 2025 have set the tone for 2026, including the largest sponsor-led take-private in history—the $55bn acquisition of Electronic Arts (EA) by a sovereign wealth and private equity-backed consortium. In addition to the EA deal, Dayforce agreed to a $12.3bn take-private by Thoma Bravo, and Swedish software-as-a-service provider Fortnox is being acquired by a consortium led by EQT and its largest shareholder, First Kraft.
Together, these transactions illustrate how private equity firms and sovereign wealth funds, armed with ample dry powder, are targeting established, category-leading platforms that they view as undervalued in the public markets. We may continue to see larger take-privates and dealmaking in 2026 as private equity and principal investors look for mature businesses with consistent sources of high revenue or opportunities to make inroads into growing sub-sectors within TMT. By taking these companies private, new owners aim to accelerate innovation and growth and enable multiyear value creation initiatives outside the constraints of quarterly earnings pressures.
Media and entertainment focus in the Middle East
The Middle East is emerging as a rising force in global media and entertainment, driven by national modernisation programs such as Saudi Arabia’s Vision 2030, which aims to diversify the economy, attract private sector participation in culture and entertainment, and position the country as a regional hub for arts, media, sports, and leisure. As the sector develops, investment and M&A are beginning to scale, with sovereign-backed funds, regional media groups, and global platforms acquiring content creators, broadcasters, sports and event management companies, and rights holders to establish larger positions in the global entertainment market. The region is increasingly shifting towards its goal of becoming a global hub for live events, sports IP, gaming, and digital distribution.
Sports remain a central pillar of this strategy. Middle East sovereign wealth continues to use sports and live entertainment as a strategic lever to drive tourism and global visibility. One example is the Saudi Pro League’s evolution from marquee signings into a multi-platform media property. Recent transactions highlight the redistribution of broadcast rights across both regional and global platforms, including podcast-native startup Thmanyah’s securing of exclusive broadcast rights for the Saudi Pro League and other sporting events, and international distribution through players such as DAZN+, Canal+, other digital-first platforms, and even Twitch streamer Zack Nani.
Together, these dynamics signal the Middle East’s transition into a globally competitive media and entertainment ecosystem. For investors, the combination of growing demand, available capital, supportive public policy, and consolidation potential is making the region an increasingly attractive destination for M&A.
From pause to pipeline: IPO activity builds again
IPO markets are reopening as macroeconomic conditions become more supportive. Global IPO proceeds increased by 45% from $118bn in 2024 to $172bn in 2025, fuelled by higher activity in financial services (including fintech) and technology stocks. The US recorded its best year for IPOs since 2021, while Asia Pacific continued to see the highest number of IPOs and reported an increase in proceeds of more than 50% year over year.
Against this improving backdrop, investor demand is most pronounced for technology assets with clear growth visibility and scale, particularly across semiconductors, AI hardware and the broader data centre build-out, where infrastructure demand is structural rather than cyclical. Signals of this trend are visible in US markets, where AI chip and memory companies are preparing for listings and recent US data centre real estate investment trust debuts that have priced well. This underscores renewed investor appetite for high-quality growth. With similar trends emerging in other markets, IPO activity, particularly in the technology sector, appears primed to accelerate further in 2026.