We are pleased to present our latest report on M&A activity within the Talent Attraction subsector of HR Technology, covering the period from Q1 2022 through Q3 2025. This edition provides an overview of long-term deal trends, valuation dynamics, and regional activity shaping the Talent Attraction landscape over the past three and a half years. 

• AI’s rapid evolution between 2022 and 2025 has redefined Talent Attraction, enabling smarter, faster, and more data-driven hiring through fully integrated recruitment technologies.A wave of M&A activity in 2025 underscores its transformation from a competitive advantage into an industry standard.
• Game-based assessments are emerging as an innovative way to measure candidate potential, combining neuroscience and gameplay to deliver engaging, data-driven hiring insights.
• The subsector recorded 350 transactions, with 85 featured in this report. Annual volumes have risen steadily, and deal activity increased by 62.5% in Q3 2025 compared to the previous quarter. Aggregate disclosed deal value reached $4.1b, with an average revenue multiple of 4.4x, reflecting sustained investor interest in technology-driven recruitment solutions.
• Cross-border transactions accounted for 34% of total activity, led by North America and Europe, with growing participation from Asia–Pacific, particularly India and Japan.