Deal values were disclosed in only 14% of Tech M&A transactions that occurred in Latin America during 2025 as buyers continued to prefer to keep their M&A strategies private. Total disclosed deal value reached $2.3 billion, comfortably above 2024 levels.

The top buyers of Latin American tech companies during 2025 included financia acquirer HGCapital LLP and strategic buyers Constellation Software, iFood, and TOTVS. At the top of the list, Constellation Software led buyer activity with 8 completed acquisitions, followed by HGCapital LLP with 5 deals, while iFood and TOTVS completed 3 deals each during the year.

Tech M&A activity in Latin America was robust with 219 deals seen during 2025 as transaction volumes rose by 25% annually. Strategic and financial buyers were active with PE firms being the acquirer in 21% of these transactions. This rebound in dealmaking activity indicates a normalization of deal flows and highlights broad investor interest in the region as buyers are seeking companies that they can use as springboards to accelerate revenue growth.