Total disclosed M&A deal values reached $9.3B, with only 11% of deals being disclosed as buyers preferred to keep their M&A strategies private. The median disclosed M&A deal size was $49M.

RegTech continues to be a popular segment for Private Equity buyers with Inflexion Private Equity Partners making 3 deals and Accel-KKR acquiring 2 companies throughout 2024. Among strategic acquirers, Descartes Systems and EQS made 3 deals each while iCoreConnect bought 2 RegTech companies.

Dealmaking activity was robust with 334 transactions seen, up 15% on an annual basis as deal volumes reached a new 10-year high. There was strong demand from strategic and financial acquirers, with Private Equity representing the buyer in 39% of total deals.

Venture capital funding for RegTech firms remained subdued in 2024 after peaking in 2021. The median venture capital deal was $3.5M, well below the median disclosed M&A deal value. CEOs and founders have instead been encouraged to pursue M&A strategies for growth and liquidity.