In Q3 2025, the US accounted for 36% of Online-Offline Commerce M&A sellers, underscoring its role as the sector’s primary hub. The Rest of World collectively matched this share, while the UK at 9%, Germany at 5%, and markets like Canada and India that each represented 4% of deal volumes contributed meaningfully. This distribution reflects the concentration of digital commerce innovation in mature economies, alongside growing participation from emerging markets.

US-based buyers dominated Online-Offline Commerce M&A as well, accounting for 45% of transactions. This leadership reflects the sector’s strong consolidation trend in the US, driven by access to capital and strategic expansion goals. Other active markets included the UK and Canada, each with 7% of sellers, followed by Germany at 4%, while the Rest of World contributed 24%, signaling ongoing global interest despite concentrated activity in North America.