Total disclosed M&A deal value reached $8.2 billion through September 2025, exceeding the total for all of 2024. Buyers preferred to keep their M&A strategies private as only 11% of deals announced their transaction values.

Let’s start our analysis by looking at dealmaking activity in the Blue-Collar Software sector during the first nine months of 2025, which was robust with 267 transactions seen, up 38% compared to the same period in 2024. Dealmaking volumes have already set a 10-year high in the sector with room for further growth. Transaction volumes have been on a powerful upward trend since 2022 as toolbelt industries continue to digitize. Financial and strategic buyers were eager to pursue acquisitions in this space as PE firms were the buyers in 31% of these transactions.

Looking at the top acquirers of Blue-Collar Software firms through September 2025, buy-and-hold company Banyan Software made three deals, taking first place. Financial acquirers Hawk Infinity Software, Nexa Equity, Advent International and Valsoft and strategic acquirers Ideagen, GTT, dlirvd Technologies and Fleetworthy Solutions each made two transactions in this space during this period.

After peaking in 2021, VC funding for Blue-Collar Software firms has declined considerably in recent years and remains highly volatile, as have deal volumes. The median VC investment was $5.2 million, well below the median disclosed M&A transaction value of $18 million. In light of these dynamics, companies have instead been encouraged to pursue M&A strategies for growth and liquidity.