More than half of global chief executives are preparing to pursue acquisitions in 2026 as companies increasingly use mergers and acquisitions (M&A) to accelerate transformation, improve productivity and secure growth.
This is according to the EY-Parthenon 2026 CEO Outlook, a survey of 1,200 CEOs.
The report shows that 53% of CEOs intend to pursue acquisitions in the next 12 months, reflecting renewed confidence in dealmaking as a strategic lever rather than merely a route to scale.
What the report is saying
EY-Parthenon said global M&A activity rebounded strongly in 2025, marked by both scale and sectoral diversity.
- The year recorded a near-record number of deals valued above $5 billion, signalling a willingness among large corporates and investors to commit capital to transformative, category-shaping transactions.
- While the United States led global dealmaking, supported by strong corporate balance sheets and favourable financing conditions, momentum extended across regions and industries.
Beyond technology: Deal activity broadens
Although technology remained the most active sector, driven by demand for AI capabilities, digital infrastructure and next-generation platforms, the rebound in dealmaking was broad-based.
Healthcare, energy, industrials, consumer goods and financial services also recorded strong activity, reflecting companies’ efforts to reposition portfolios and adapt to changing market dynamics.
According to the report, CEOs are increasingly viewing M&A as an extension of their enterprise-wide transformation agenda.
At the top of acquisition objectives, 50% of CEOs cited operational optimisation and productivity gains, including digitalisation.
This, EY-Parthenon said, underscores a shift in thinking: “M&A is no longer simply a path to scale, but a catalyst for accelerating operational modernisation and embedding advanced technology capabilities faster than organic investment.”
Growth and market expansion remain key
In addition, 45% of CEOs prioritised accelerating top-line growth through acquisitions, highlighting ambitions to enter new markets, strengthen competitive positioning and capture adjacent demand.
Improving customer engagement and retention, reducing costs, and enhancing product and process innovation were also identified as key motivations, aligning M&A with broader transformation goals.
The report noted that the defining advantage of M&A is speed.
While organic transformation often requires years of investment and cultural change, targeted acquisitions can quickly deliver capabilities, talent, technology and market access, allowing companies to compress timelines and overcome internal constraints.
“Whether acquiring an AI-native business or a company with superior operational practices, M&A allows organisations to pull forward the benefits of transformation,” the report said.
- However, EY-Parthenon cautioned that achieving these benefits depends on early integration planning.
- Value drivers must be clearly articulated and actively managed from due diligence through execution to ensure efficiencies and synergies are identified, measured and captured, rather than assumed.
CEOs turn to alliances and joint ventures
Beyond acquisitions, CEOs are also increasingly using joint ventures and strategic alliances to advance transformation.
The survey found that 79% of CEOs plan to pursue alliances or joint ventures in 2026, up sharply from 62% in 2025, reflecting the appeal of partnerships as a faster, lower-risk route to new capabilities.
Despite the rebound, cross-border M&A continues to face geopolitical headwinds.
Rising national security reviews, foreign investment screening, sanctions and antitrust scrutiny have increased deal complexity, while higher interest rates and uneven post-pandemic recoveries have favoured domestic consolidation.
Although the US remained the largest destination for cross-border deals, accounting for 30% of deal value and 17% of volume in 2025, its share has declined compared with previous years.
What you should know
On Friday, Nairametrics reported that Andela Inc., one of the world’s largest marketplaces for technical talent, acquired Woven, a technical assessment company known for its real-world engineering simulations and AI-enabled evaluation tools.
Three days earlier, Netflix revised its $83 billion cash-and-stock bid to acquire Warner Bros. Discovery’s (WBD) studios and streaming business into an all-cash offer, a move seen as a strategy to counter Paramount Skydance’s hostile bid.
Last week, Stripe-owned Nigerian fintech, Paystack, officially entered Nigeria’s banking space following its acquisition of Ladder Microfinance Bank, marking a major expansion beyond payments into full-stack financial services.
