Barclays and Houlihan Lokey lead the TMT M&A advisory rankings in H1 2025. Barclays advised on transactions worth $51.3bn, a 170.6% increase from last year, while Houlihan Lokey handled 34 transactions, the most by deal volume. Goldman Sachs and JP Morgan followed in the value rankings, advising on $48.8bn and $42.1bn worth of deals, respectively.
Barclays and Houlihan Lokey have emerged as the top financial advisers in the technology, media, and telecom (TMT) sector for mergers and acquisitions (M&A) during the first half of 2025, according to data from GlobalData. Barclays led by deal value, advising on transactions worth $51.3 billion, a significant rise from its tenth place ranking in the same period last year. This increase was driven by a 170.6% jump in deal value, with the $32 billion Google-Wiz deal being a key contributor [1].
Houlihan Lokey topped the list by deal volume, handling 34 transactions in H1 2025. Despite a year-on-year fall in the total number of deals advised, the firm managed to retain its leadership position by this metric. GlobalData lead analyst Aurojyoti Bose noted that eight of the top 10 advisers by volume experienced a decline in the total number of deals advised during H1 2025 compared to H1 2024 [1].
In the value rankings, Goldman Sachs followed Barclays by advising on $48.8 billion worth of deals. JP Morgan, Evercore, and Morgan Stanley occupied the subsequent positions with deal values of $42.1 billion, $40.3 billion, and $37 billion, respectively. JP Morgan ranked second in terms of volume by advising on 28 deals in H1 2025. Goldman Sachs and Evercore each managed 19 deals, and Clearwater completed 18 transactions in the same period [1].
These rankings reflect the dynamic nature of the TMT sector, where significant deals and strategic partnerships continue to shape the industry landscape. As the market evolves, financial advisers play a crucial role in facilitating these transactions, providing valuable insights and expertise to both buyers and sellers.
References:
[1] https://www.verdict.co.uk/barclays-houlihan-lokey-tmt-h1-2025-ma-adviser/
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