Technology Sector M&A Survey
Key Findings based on a survey of 135 deal professionals in the Technology sector as of September 30, 2025
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Introduction
- In M&A, speed wins - but when it comes to tech debt, shortcuts lose.
- Every quick fix to inherited systems piles on hidden costs that stall innovation, drain value, and heighten cyber and operational risk.
- The KPMG 2025 Technology M&A Survey shows a clear gap: while most dealmakers talk about tech debt, few actually tackle it before close – leaving costly surprises for Day 1 and Day 2.
- This report explores how leading acquirers can change that equation, using AI and smarter governance to turn tech debt from a drag into a driver of value creation.
Unplanned Tech Debt Creates Post-Close Risk
Key Findings
AI Fuels Modernization—and Fragmentation
Key Findings
AI Speeds Fixes, Not True Transformation (yet)
Key Findings
AI and Modernization Outrun Governance
Key Findings
How KPMG can help
KPMG advises corporate and PE clients in every stage of the M&A lifecycle, providing an execution-focused approach to maximize and accelerate the value creation process. We bring domain expertise, industry depth, and an integrated transformation approach to meet the specific challenges of technology companies, PE, and venture capital investors.
Dive into our thinking:
2025 Technology Sector M&A Survey
Download PDFDive into our thinking:
Key Findings based on a survey of 135 deal professionals in the Technology sector as of September 30, 2025
Download PDFMeet our team
Anuj Bahal
Principal, U.S. National Technology, Media & Telecommunications (TMT) Deal Advisory and Strategy Leader, KPMG US
Tim Lashua
Partner, Deal Advisory & Strategy, KPMG US
Greg Sward
Principal, Advisory, TMT Strategy, KPMG US
Rafael Barreto
Director, Advisory, Transaction Strategy, KPMG US
Anuj Bahal
Principal, U.S. National Technology, Media & Telecommunications (TMT) Deal Advisory and Strategy Leader, KPMG US
Tim Lashua
Partner, Deal Advisory & Strategy, KPMG US
Greg Sward
Principal, Advisory, TMT Strategy, KPMG US
Rafael Barreto
Director, Advisory, Transaction Strategy, KPMG US