Now let’s look at sellers by geography. 44% of target companies were based in the US, followed by the United Kingdom with 15% and Germany with 4%. France, Canada and Australia followed closely and each were home to 3% of the sellers.

Over half of the RegTech buyers in were based in the US, accounting for 53% of the deals, followed by the United Kingdom with 12%, and Canada with 5%. Various European countries also saw material M&A activity in the first nine months of 2024. Dealmaking remained highly international with 52% of transactions being cross-border.