Business and financial services M&A update: Q3 2025

M&A activity among financial institutions, particularly within the banking sector, accelerated in Q3 2025 with 52 bank transactions announced.¹

Business and financial services trends

  • Business process outsourcing
    The BPO market is projected to reach $512.4 billion by 2030, as companies outsource to reduce costs and access specialized capabilities.2
  • Consulting
    The global consulting sector is expected to reach a value of $421.2 billion by 2033, led by the US market’s economic scale and demand for advisory services.3
  • Education and training
    Global education spending is expected to reach $10 trillion by 2030, driven by digitalization and an accelerating adoption of online learning and digital education offerings.4
  • Insurance, legal, and risk services
    M&A activity among North American insurance brokers has surpassed $60 billion over the last two years, countering weaker organic premium growth.5
  • Staffing and recruiting
    Macroeconomic uncertainty and reduced hiring demand have been headwinds in the broader staffing segment this year; however, education staffing demand is on pace to grow 5% by the end of 2025, highlighting its resilience as a bright spot in the industry.6

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References

1 Gaby Villaluz and Zuhaib Gull, “US bank M&A activity surges to 4-year high in Q3,” S&P Global Market Intelligence, October 7, 2025.
2 BoardRoom, “Top business process outsourcing trends globally in 2025,” September 2, 2025.
3 Right Angle Global, “Top six consulting industry trends for 2025 and beyond,” July 17, 2025.
4 EdTech Conference, “Global EdTech market forecast 2025–2030: Growth opportunities in UK, Europe, US, India, China and UAE,” September 11, 2025.
5 Robert Galtman and Sukaina Dosani, “U.S. insurance brokers chase bigger M&A deals as growth cools,” Beinsure, September 29, 2025.
6 Jake Angelo, “Education staffing one of few segments to show growth this year,” Staffing Industry Analysts (SIA), October 7, 2025.

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