Looking at subsector activity in Q1 2026, Online Marketing & E-Commerce led M&A volumes with 10 transactions, reflecting continued buyer focus on customer acquisition and revenue-driving capabilities. CRM and Retail Solutions followed closely with 8 deals each, underscoring demand for technologies that support customer engagement and omnichannel operations. Online Services accounted for 5 transactions, while Enterprise Resource Planning, Supply Chain Management, and Payment Service Providers each saw more selective activity. In total, 55 acquisitions were completed in the quarter, highlighting a targeted approach to dealmaking as buyers prioritize core digital and operational technologies early in the year, laying the groundwork for broader ecosystem expansion over the remainder of 2026.