New Delhi, Oct 27 (NationPress) The technology deal landscape in India for the third quarter of 2025 (covering July to September) witnessed a total of 80 transactions valued at $1.48 billion, reflecting a significant increase of 33 percent quarter-on-quarter (QoQ). This shift indicates a transition from volume-driven activities to more value-centric, theme-oriented investments, according to a report released on Monday.

Notably, the number of high-value deals exceeding $50 million surged fourfold, emphasizing the focus on sustainable enterprise models and the potential for cross-border scalability, as outlined in the report by business advisory firm Grant Thornton.

This resurgence occurs against the backdrop of global macroeconomic adjustments and a revived interest in AI, SaaS, and enterprise automation, which are perceived as crucial for scalable, platform-first growth, the report highlighted.

The mergers and acquisitions (M&A) segment included 29 deals amounting to $743 million, marking a staggering increase of 239 percent in value from the previous quarter, largely propelled by domestic acquisitions in AI and tech services focused on automation.

“The third quarter of 2025 illustrates a definitive transformation in India’s tech ecosystem, with investors and acquirers concentrating on value-centric, infrastructure-oriented deals in AI, SaaS, and enterprise automation. We anticipate that the next generation of breakout companies will emerge from deep tech and AI-native infrastructures,” stated Raja Lahiri, Partner and Technology Industry Leader at Grant Thornton Bharat LLP.

Outbound transactions saw a notable increase, with three high-value deals surpassing $100 million, contributing to 87 percent of the total value, according to the firm's analysis.

Private equity and venture capital activity saw 50 deals totaling $584 million, indicating a 39 percent rise in volume and a remarkable 172 percent increase in value compared to Q2, primarily driven by early and mid-stage funding in enterprise solutions and analytics.

In contrast, the tech sector experienced a lull in public market activity during Q3 2025, recording only one IPO and no qualified institutional placements (QIP). Although the volume of deals remained low, the significant deal size suggests selective but high-value investor interest. The absence of QIP issuances points to a cautious stance among listed tech firms amidst ongoing valuation adjustments.

Earlier this month, Equirus Securities reported that India’s largest IT companies are projected to achieve modest quarter-on-quarter revenue growth in the upcoming Q2 earnings report.

The earlier analysis indicated that rising macroeconomic concerns are likely to limit additional tech expenditures, although demand trends remain steady, alongside an increase in deal conversions and favorable currency movements that may bolster growth.