Middle East and Africa M&A by the Numbers: Q2 2025

Mergers and acquisitions in the Middle East and Africa (MEA) region saw a decrease in activity compared to the previous quarter in terms of deal volume and deal sizes. Transaction values were relatively flat on a year-over-year basis and came in at $10.1bn compared to $10.2bn in Q2 2024. The total number of deals also dropped from 294 to 275 deals over the same period. The largest deal of the quarter was the $2.9bn acquisition of Deribit FZE by Coinbase Global Inc. marking a noteworthy cross border deal in the Middle Eastern crypto and retail investment market. This specific transaction also accounted for +60% of the transaction value in the UAE in Q2 2025. Deal activity in Saudi Arabia saw a sharp decline of -77% from a transaction value standpoint. In addition, South Africa had the highest volume of deals completed which was also coupled with a sharp increase of +148% in transaction value on a year-over-year basis.