Turning to seller geography during H1 2026, the US remained the largest source of Online-Offline Commerce M&A targets, accounting for 31% of sellers across the 106 transactions analyzed. Europe continued to play a prominent role, with the UK contributing 8% of sellers followed by Germany at 7% and Spain at 6%. India also represented 7% of total transaction volumes, while Canada and Mexico accounted for 4% and 3%, respectively. This geographic distribution highlights the sector's broad international footprint, with innovation and acquisition opportunities emerging across both established technology hubs and fast-growing digital commerce markets.

The US remained the most active acquirer nation in Online-Offline Commerce M&A during the first six months of 2026, contributing 39% of all buyers. Strong access to capital, a dynamic technology ecosystem, and a continued focus on platform expansion helped sustain US leadership in the sector. International participation remained robust, with the UK accounting for 10% of buyers, followed by India at 7% and Germany at 5%. Canada contributed 4% of acquisitive activity, while Australia, the Netherlands, and Israel each added 3%. Notably, 44% of all transactions were completed on a cross-border basis, highlighting the increasingly global nature of commerce technology M&A and buyers’ willingness to seek growth opportunities beyond their domestic markets.