PitchBook：2026年第一季度企业SaaSM&A回顾报告（英文版）

Q1 recorded $292.7 billion in total deal value across an estimated 267 transactions, marking a massive 233.8% increase in deal value QoQ despite a slight 1% dip in estimated deal count. • Activity was extraordinarily concentrated at the top, as 10 multibillion-dollar megadeals—including four of $5 billion or more—accounted for 94.6% of the quarter’s total deal value, with SpaceX’s $250 billion acquisition of xAI representing 85.4%. • Q1 represented the highest quarterly total on record,