Looking at sellers by geography, 51% of target companies were based in the US, followed by the United Kingdom at 14%. France and Canada each represented the headquarters of 4% of sellers and Australia and Germany were both home to 3%.

Now looking at buyers by geography, 51% of RegTech acquirers were based in the US, followed by the United Kingdom at 10% and Canada at 9%. Numerous other European countries also saw significant M&A activity in the first half of 2025. Dealmaking remained highly international with 49% of transactions being cross-border.