Tech M&A 2025 Study

This week the first part of a comprehensive and unique study of the Russian market for tech asset deals based on the results of 2025 was published.

The study, spanning over 260 pages, covers a wide range of topics:

• Overview of the Tech M&A market in 2025
• Drivers of the Tech M&A market dynamics in 2025
• Pre-IPO, IPO, and SPO deals in the TMT sector
• M&A deals involving AI assets
• AI technologies as a standalone transaction asset
• Forecasts and outlook for 2026

Download the study (in Russian) >>.

The second part of the study will be released shortly.

This study is unique as well, having been produced by a team of leading advisory firms in the tech market: it was conducted by Anastasia Nerchinskaya, ALRUD, B1, and ADVANCE CAPITAL, with the support of our team at SL LEGAL, Denuo, and DFCenter.

The study also involved industrial players from the TMT sector and investment banks specialising in Tech M&A deals.

SL LEGAL team members involved in the study:

• Artashes Oganov, Partner, Head of Corporate and M/A
• Anastasia Dukhina, Senior Associate, Corporate and M/A
• Shermet Kurbanov, Co-Head of IP & Digital Law