Mergermarket | TMT Dealmakers Enter 2026 with AI Momentum
Originally published by Mergermarket on January 22, 2026.
Dealmakers across the technology sector entered 2026 with optimism, buoyed by a strong end to 2025. Deal volume rose throughout the year, and a rise in transaction count is being driven by pressures on limited partners to return capital. Perhaps the strongest force fueling growth, however, is artificial intelligence.
In North America, primarily AI-focused targets accounted for 11% of total deal volume in 2025, roughly $125.3 billion. The technology sector has begun leveraging AI to generate revenue rather than just utilizing it as a strategic asset. Scott Twibell, Managing Director and Co-Head of Lincoln International’s Technology Group, recently shared his insights with Mergermarket.
“The completeness of the AI story—how tangible that is on product lineup, revenue
generation, and demonstrating whether clients find value—will start to separate businesses in
terms of desirability,” Twibell said.
Contributor
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Scott Twibell
Managing Director & Global Co-Head, Technology
New York
