Middle East and Africa M&A by the Numbers: Q3 2025

Mergers and acquisitions activity in the Middle East and Africa (MEA) region recorded a significant increase in deal values year-over-year despite a decline in overall deal volume. The total number of transactions fell from 334 to 280 while aggregate deal values surged by +75% reaching $43.8 billion compared to $25.1 billion a year earlier.

The largest deal of the quarter was the acquisition of Israeli tech firm CyberArk Software Ltd. by US-based Palo Alto Network Inc. The $24,3bn megadeal accounted for 55% of the entire deal value in the MEA region for Q3 2025.At the country level, Saudi Arabia and the UAE experienced a slowdown in deal volumes and values despite having shown strong M&A activity in recent quarters. In addition, the South African market also cooled with the number of transactions falling by -24% compared to the prior year.