In 2025, TCMS M&A was dominated by two landmark transactions: Virgin Media O2’s merger with Daisy and the completion of Vodafone’s long-awaited merger with Three. With Acuity delivering a standout eight transactions, the continued buyer appetite for resilient assets across the TCMS landscape was evident, setting the stage for a strong pipeline in 2026 as financing conditions ease and sentiment continues to improve.
Telecoms, Cloud & Managed Services
Market Review H2 2025WE ARE PROUD TO RELEASE OUR LATEST M&A MARKET
REVIEW ON THE TCMS INDUSTRY.