VC funding has remained volatile in recent years, both in deal volume and investment size, increasingly pushing companies toward M&A as a path to growth and liquidity. In the first half of 2026, the median VC investment was $5.3 million, which is more than 13 times lower than the median disclosed M&A deal value. 

M&A volume rose in the first half of 2026 to 171 deals, surpassing the first six months of 2025’s results by 23%. Private Equity firms remained active in this market, accounting for the buyers in 23% of these transactions. 

Disclosed IoT deal value reached $37.4 billion in H1 2026, more than quadrupling the total disclosed value recorded during the same period last year. Only 30% of transactions disclosed deal values as buyers preferred to keep their M&A strategies private. 

In terms of top acquirers, Accenture led the pack with 3 deals, followed by BiomX, Motorola and Main Capital Partners, which each acquired 2 IoT companies.