FTI Consulting Sees Strategic M&A Recovery Gain Momentum in 2026

Global mergers and acquisitions (M&A) activity is entering a more disciplined growth phase in 2026, with organizations focusing less on the number of transactions and more on strategic value creation. According to FTI Consulting's latest market analysis, businesses are approaching acquisitions with greater caution while continuing to invest in opportunities that strengthen long-term competitiveness.

After a challenging period marked by high borrowing costs, geopolitical uncertainties, and economic volatility, executives are increasingly pursuing acquisitions that directly support business transformation. Rather than pursuing large, high-profile deals, companies are favoring targeted acquisitions that enhance technological capabilities, expand into adjacent markets, or strengthen existing business portfolios.

FTI Consulting notes that corporate boards are demanding stronger business cases before approving acquisitions. Organizations are placing greater emphasis on detailed financial analysis, operational compatibility, and long-term integration planning to ensure transactions deliver measurable returns. This disciplined approach reflects a broader shift from growth through scale to growth through strategic capability.

Technology remains one of the strongest drivers of global M&A activity. Businesses continue acquiring companies specializing in artificial intelligence, cybersecurity, cloud computing, enterprise software, automation, and advanced analytics. As digital transformation accelerates across industries, acquiring specialized technology firms has become a faster route to innovation than building new capabilities internally.

Healthcare and life sciences continue to attract significant investor interest. Pharmaceutical manufacturers, biotechnology firms, medical device companies, and healthcare service providers are using acquisitions to expand research pipelines, improve patient care solutions, and enter new geographic markets. Consultants expect healthcare transactions to remain active as organizations respond to aging populations and increasing demand for innovative medical technologies.

Private equity firms continue playing a significant role despite relatively higher financing costs. Investment firms are focusing on businesses with resilient earnings, scalable operations, and opportunities for operational improvement. Consulting firms are supporting these investors through commercial due diligence, operational assessments, value creation planning, and post-acquisition transformation initiatives.

FTI Consulting also highlights the expanding role of consultants throughout the entire M&A lifecycle. Modern consulting firms are no longer limited to financial due diligence. They now provide strategic advisory services that include digital integration planning, cybersecurity risk assessments, ESG evaluations, operational restructuring, regulatory compliance, and post-merger performance optimization.

One emerging trend is the growing importance of integration planning before transactions are completed. Organizations increasingly recognize that successful acquisitions depend not only on negotiating favorable purchase prices but also on integrating employees, technology platforms, customer relationships, and corporate cultures efficiently. Consultants are therefore becoming critical partners in helping businesses capture anticipated synergies while minimizing disruption.

Cross-border transactions are gradually recovering as multinational companies seek expansion opportunities in high-growth markets. However, regulatory approvals, national security reviews, and changing international trade policies continue influencing deal structures, particularly within technology, energy, telecommunications, and critical infrastructure sectors.

The report further indicates that companies with strong cash reserves are better positioned to capitalize on attractive acquisition opportunities. Businesses that combine financial discipline with clear strategic objectives are expected to outperform competitors as market conditions improve.

Looking ahead, FTI Consulting expects M&A activity to remain healthy throughout the remainder of 2026, although transactions will likely continue reflecting careful planning rather than aggressive expansion. Organizations are expected to prioritize acquisitions that accelerate digital transformation, improve operational resilience, and create sustainable competitive advantages.

For the consulting industry, this environment represents continued growth opportunities. As transaction complexity increases, demand for specialized advisory services—including transaction strategy, operational transformation, risk management, technology integration, and post-merger execution—is expected to remain strong. Consulting firms that combine industry expertise with digital capabilities are likely to play an increasingly central role in shaping the next phase of global M&A activity.