Worldwide AI spending is projected to reach $2.7T in 2026, up 49.5% YoY, including $461.6B of AI software spending, reinforcing strategic demand for software assets that embed AI into established workflows.
August saw incumbents buy AI capabilities outright, including Visa’s $2.4B acquisition of BioCatch and Dynatrace’s $915M acquisition of Arize, underscoring that established software platforms are increasingly turning to M&A to accelerate AI product development across Cybersecurity and Data & Analytics.
Vertical software made up 54% of SaaS M&A in Q2 2026, up from 46% a year earlier as buyers favor embedded, industry specific workflows that AI cannot easily displace.

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Christopher Park, Managing Director, Head of Software & Services, CPark@IntrepidIB.com
Jeff Becker, Managing Director, Software & Services, JBecker@IntrepidIB.com
Terry Jiang, Managing Director, Software & Services, TeJiang@IntrepidIB.com
Ryan Makis, Director, Software & Services, RMakis@IntrepidIB.com