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Machine Verified Markets
Market strategy briefQ2 2026Next refresh: mid-Nov 2026

Lower Spend Concentration + Accelerating posture

Semiconductors, Electronic Hardware & Components

Lower Spend Concentration + Accelerating · $530.6B disclosed spend · led by Bolt On plays · activity accelerating across 191 public buyers.

Priority acquirers add scarce IP, product sockets, component depth, test capability, or manufacturing reach that can be sold through existing technical channels.

Bolt On dominantSpend HHI 498Accelerating +18

Disclosed acquisition spend is below the atlas median HHI (576), while recent activity is accelerating.

Public buyers

191

105 core (10+)

Recorded buys

1,736

200 last 3 yrs

Disclosed spend

$530.6B

$118.8B recent

Matched issuers

284

2 segments

Strategy fingerprint

How this market gets bought

Spend-weighted strategy mix from public buyers' 10-K language. Each archetype shows the buyers who lead it.

Bolt 20%
Platform 19%
Geo 19%
Horiz 17%
Tech 16%
Tuck InBolt OnPlatformGeographic ExpansionHorizontal ConsolidationVertical IntegrationTechnology AcquisitionTalent Acquisition

Tuck In

1% mix

Small additive deals folded directly into the existing business.

“We are taking an aggressive approach of nurturing strong organic growth, identifying opportunities for growth through acquisition”

IIOT-OXYS, Inc. (ITOX) · FY2019

Bolt On

20% mix

Mid-sized acquisitions extending the existing product or service core.

“We continually evaluate potential mergers and acquisitions that align with our business portfolio strategy.”

Fortive Corporation (FTV) · FY2024

Platform

19% mix

Foundational deals establishing a new platform or business line.

“With our acquisition of Mellanox, we strengthened our end-to-end expertise in data center architectures”

Nvidia Corp. (NVDA) · FY2021

Geographic Expansion

19% mix

Buying density or new geographies to extend the footprint.

“The Company believes that the industry in which it operates is highly fragmented and continues to provide significant opportunities for strategic acquisitions.”

Amphenol Corp. (APH) · FY2025

Horizontal Consolidation

17% mix

Acquiring direct competitors to consolidate the market.

“Consolidations and restructuring in our supplier base and equipment fabricators related to our raw materials purchases or the manufacturing equipment we use to fabricate our products may result in adverse changes in pricing due to reduced competition and shortages of equipment and spare parts.”

TTM Technologies, Inc. (TTMI) · FY2025

Vertical Integration

4% mix

Adding upstream or downstream capability inside the value chain.

“Principles of Consolidation and Basis of Presentation— The consolidated financial statements include the accounts of Vanguard Energy Corporation and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.”

Graphene & Solar Technologies Limited (GSTX) · FY2013

Technology Acquisition

16% mix

Buying products, IP, or engineering depth for capability gain.

“The automotive industry is subject to long design-in time frames, long product life cycles and a high degree of regulatory and safety requirements, necessitating suppliers to the industry to comply with stringent qualification processes, very low defect rates and high reliability standards, all of which results in a significant barrier to entry and may result in increased costs.”

Qualcomm Inc. (QCOM) · FY2022

Talent Acquisition

5% mix

Acquisitions led by team or human-capital rationale.

Buyer landscape

Disclosed buyer scale by annual spend

Each bubble is a top public buyer with disclosed acquisition spend. X = average disclosed spend per active year. Y = total disclosed spend. Midlines are buyer medians. Color = dominant strategy archetype.

Below-median disclosed spend per active year, above-median total disclosed spend.Lower Annual Spend / Higher Total SpendAbove-median disclosed spend per active year, above-median total disclosed spend.Higher Annual Spend / Higher Total SpendBelow-median disclosed spend per active year, below-median total disclosed spend.Lower Annual Spend / Lower Total SpendAbove-median disclosed spend per active year, below-median total disclosed spend.Higher Annual Spend / Lower Total Spend$100K$1M$10M$100M$1B$10B$100K$1M$10M$100M$1B$10B$100Bmedian annual $70Mmedian total $413MAvg disclosed acquisition spend per active year (log) →Total disclosed spend (log)AVGOBroadcom Inc. (AVGO) Horizontal Consolidation $83.8B total · $12B / active year 7 active years · 16 buys reportedINTCIntel Corp. (INTC) Platform $46.1B total · $3.1B / active year 15 active years · 97 buys reportedDELLDell Technologies Inc. (DELL) Mixed strategy $42.4B total · $4.7B / active year 9 active years · 1 buys reportedHPQHP Inc. (HPQ) Geographic Expansion $19.5B total · $1.1B / active year 17 active years · 37 buys reportedQCOMQualcomm Inc. (QCOM) Technology Acquisition $18.8B total · $1.1B / active year 17 active years · 83 buys reportedWDCWestern Digital Corporation (WDC) Geographic Expansion $18.7B total · $1.7B / active year 11 active years · 5 buys reportedAPHAmphenol Corp. (APH) Geographic Expansion $13.9B total · $730M / active year 19 active years · 66 buys reportedFTVFortive Corporation (FTV) Bolt On $13B total · $1.3B / active year 10 active years · 18 buys reportedMCHPMicrochip Technology Incorporated (MCHP) Bolt On $12.7B total · $1.3B / active year 10 active years · 7 buys reportedNVDANvidia Corp. (NVDA) Platform $12.3B total · $1B / active year 12 active years · 7 buys reportedENTGEntegris, Inc. (ENTG) Geographic Expansion $11.4B total · $946M / active year 12 active years · 8 buys reportedTELTE Connectivity PLC (TEL) Geographic Expansion $10.5B total · $698M / active year 15 active years · 39 buys reportedRCATRed Cat Holdings, Inc. (RCAT) Talent Acquisition $10.1B total · $2.5B / active year 4 active years · 6 buys reportedMOBXMobix Labs, Inc. (MOBX) Technology Acquisition $9.5B total · $4.8B / active year 2 active years · 3 buys reportedAMDAdvanced Micro Devices, Inc. (AMD) Technology Acquisition $8.4B total · $1.2B / active year 7 active years · 9 buys reportedTDYTeledyne Technologies Inc. (TDY) Bolt On $7.8B total · $436M / active year 18 active years · 43 buys reportedSSYSStratasys Ltd. (SSYS) Bolt On $7.8B total · $864M / active year 9 active years · 11 buys reportedCAJFFCanon Inc. (CAJFF) Geographic Expansion $7.3B total · $2.4B / active year 3 active years · 3 buys reportedTRMBTrimble Inc. (TRMB) Geographic Expansion $7.2B total · $399M / active year 18 active years · 102 buys reportedQRVOQorvo, Inc. (QRVO) Platform $6.7B total · $834M / active year 8 active years · 5 buys reportedLRCXLAM Research Corporation (LRCX) Bolt On $6.3B total · $787M / active year 8 active years · 6 buys reportedONON Semiconductor Corporation (ON) Geographic Expansion $6.3B total · $417M / active year 15 active years · 16 buys reportedOSSOne Stop Systems, Inc. (OSS) Technology Acquisition $6B total · $3B / active year 2 active years · 1 buys reportedCOHRCoherent Corp. (COHR) Bolt On $6B total · $425M / active year 14 active years · 15 buys reportedITRIItron, Inc. (ITRI) Technology Acquisition $5.6B total · $696M / active year 8 active years · 9 buys reportedKEYSKeysight Technologies, Inc. (KEYS) Technology Acquisition $5.5B total · $554M / active year 10 active years · 14 buys reportedMXLMaxLinear, Inc. (MXL) Technology Acquisition $5.2B total · $576M / active year 9 active years · 8 buys reportedFLEXFlex Ltd. (FLEX) Geographic Expansion $4.8B total · $269M / active year 18 active years · 5 buys reportedMUMicron Technology Inc. (MU) Platform $4.8B total · $531M / active year 9 active years · 10 buys reportedACFNAcorn Energy, Inc. (ACFN) Platform $4.4B total · $885M / active year 5 active years · 2 buys reportedMVISMicroVision, Inc. (MVIS) Technology Acquisition $4.1B total · $1.4B / active year 3 active years · 2 buys reportedSMTCSemtech Corporation (SMTC) Geographic Expansion $4.1B total · $375M / active year 11 active years · 14 buys reportedSWKSSkyworks Solutions, Inc. (SWKS) Technology Acquisition $3.8B total · $384M / active year 10 active years · 13 buys reportedKLACKLA Corporation (KLAC) Geographic Expansion $3.7B total · $338M / active year 11 active years · 23 buys reportedSTXSeagate Technology Holdings plc (STX) Horizontal Consolidation $3.7B total · $462M / active year 8 active years · 7 buys reportedMRVLMarvell Technology, Inc. (MRVL) Bolt On $3.7B total · $1.2B / active year 3 active yearsVSHVishay Intertechnology Inc. (VSH) Geographic Expansion $3.6B total · $300M / active year 12 active years · 22 buys reportedARWArrow Electronics, Inc. (ARW) Bolt On $3.4B total · $240M / active year 14 active years · 57 buys reportedSTSensata Technologies Holding PLC (ST) Bolt On $3.2B total · $395M / active year 8 active years · 11 buys reportedNTAPNetApp, Inc. (NTAP) Technology Acquisition $3.1B total · $223M / active year 14 active years · 16 buys reportedAAPLApple Inc. (AAPL) Mixed strategy $2.9B total · $320M / active year 9 active years · 1 buys reportedONTOOnto Innovation Inc. (ONTO) Bolt On $2.8B total · $280M / active year 10 active years · 11 buys reportedSONYSony Group Corporation (SONY) Bolt On $2.7B total · $210M / active year 13 active years · 6 buys reportedQMCOQuantum Corp. (QMCO) Bolt On $2.6B total · $319M / active year 8 active years · 4 buys reportedTTMITTM Technologies, Inc. (TTMI) Horizontal Consolidation $2.4B total · $268M / active year 9 active years · 8 buys reportedADIAnalog Devices, Inc. (ADI) Geographic Expansion $2.3B total · $227M / active year 10 active years · 11 buys reportedSTMSTMicroelectronics N.V. (STM) Horizontal Consolidation $2.2B total · $246M / active year 9 active years · 6 buys reportedJBLJabil Inc. (JBL) Geographic Expansion $2B total · $135M / active year 15 active years · 13 buys reportedCLSCelestica Inc. (CLS) Geographic Expansion $2B total · $155M / active year 13 active years · 9 buys reportedAMATApplied Materials Inc. (AMAT) Bolt On $1.9B total · $114M / active year 17 active years · 13 buys reportedSYNASynaptics Incorporated (SYNA) Technology Acquisition $1.9B total · $189M / active year 10 active years · 8 buys reportedWOLFWolfspeed, Inc. (WOLF) Bolt On $1.6B total · $156M / active year 10 active years · 8 buys reportedASXASE Technology Holding Co., Ltd. (ASX) Geographic Expansion $1.5B total · $186M / active year 8 active years · 6 buys reportedQUBTQuantum Computing Inc. (QUBT) Mixed strategy $1.4B total · $720M / active year 2 active years · 1 buys reportedGSTXGraphene & Solar Technologies Limited (GSTX) Vertical Integration $1.4B total · $701M / active year 2 active years · 2 buys reportedDIODDiodes Inc. (DIOD) Geographic Expansion $1.3B total · $95M / active year 14 active years · 10 buys reportedTERTeradyne, Inc. (TER) Bolt On $1.3B total · $127M / active year 10 active years · 12 buys reportedVNTVontier Corporation (VNT) Bolt On $1.2B total · $414M / active year 3 active years · 6 buys reportedNXPINXP Semiconductors N.V. (NXPI) Horizontal Consolidation $1.2B total · $309M / active year 4 active years · 3 buys reportedGRMNGarmin Ltd. (GRMN) Bolt On $1.1B total · $58M / active year 19 active years · 29 buys reportedDDD3d Systems Corporation (DDD) Bolt On $1.1B total · $99M / active year 11 active years · 52 buys reportedMTSIMACOM Technology Solutions Holdings, Inc. (MTSI) Mixed strategy $1.1B total · $117M / active year 9 active years · 12 buys reportedESEEsco Technologies Inc. (ESE) Bolt On $1.1B total · $117M / active year 9 active years · 6 buys reportedSLABSilicon Laboratories Inc. (SLAB) Technology Acquisition $1B total · $75M / active year 14 active years · 12 buys reportedKYOCFKyocera Corp. (KYOCF) Geographic Expansion $1B total · $174M / active year 6 active years · 21 buys reportedANETArista Networks, Inc. (ANET) Technology Acquisition $1B total · $171M / active year 6 active years · 9 buys reportedBELFABEL Fuse Inc. (BELFA) Bolt On $1B total · $77M / active year 13 active years · 15 buys reportedNOVTNovanta Inc. (NOVT) Geographic Expansion $987M total · $82M / active year 12 active years · 19 buys reportedLOGILogitech International S.a. (LOGI) Technology Acquisition $920M total · $71M / active year 13 active years · 10 buys reportedMLABMesa Laboratories, Inc. (MLAB) Bolt On $914M total · $61M / active year 15 active years · 31 buys reportedTXNTexas Instruments Incorporated (TXN) Mixed strategy $893M total · $893M / active year 1 active years · 1 buys reportedEBONEbang International Holdings Inc. (EBON) Mixed strategy $874M total · $437M / active year 2 active yearsCRUSCirrus Logic, Inc. (CRUS) Technology Acquisition $833M total · $104M / active year 8 active years · 9 buys reportedUCTTUltra Clean Holdings, Inc. (UCTT) Mixed strategy $739M total · $74M / active year 10 active years · 13 buys reportedCOHUCohu, Inc. (COHU) Geographic Expansion $738M total · $92M / active year 8 active years · 8 buys reportedLFUSLittelfuse Inc. (LFUS) Geographic Expansion $733M total · $56M / active year 13 active years · 18 buys reportedLSCCLattice Semiconductor Corp (LSCC) Platform $707M total · $177M / active year 4 active years · 5 buys reportedCTSCTS Corporation (CTS) Geographic Expansion $701M total · $70M / active year 10 active years · 12 buys reportedOUSTOuster, Inc. (OUST) Technology Acquisition $697M total · $174M / active year 4 active years · 3 buys reportedLASRNlight, Inc. (LASR) Mixed strategy $683M total · $137M / active year 5 active years · 3 buys reportedCGNXCognex Corporation (CGNX) Technology Acquisition $663M total · $133M / active year 5 active years · 10 buys reportedIFNNFInfineon Technologies AG (IFNNF) Bolt On $644M total · $322M / active year 2 active years · 4 buys reportedRMBSRambus Inc. (RMBS) Bolt On $640M total · $71M / active year 9 active years · 14 buys reportedASMLAsml Holding NV (ASML) Technology Acquisition $630M total · $126M / active year 5 active years · 6 buys reportedVECOVeeco Instruments Inc. (VECO) Bolt On $627M total · $70M / active year 9 active years · 8 buys reportedDPLSDarkPulse, Inc. (DPLS) Mixed strategy $583M total · $292M / active year 2 active years · 1 buys reportedFCUVFocus Universal Inc. (FCUV) Platform $550M total · $550M / active year 1 active years · 1 buys reportedMINBYMINEBEA MITSUMI Inc. (MINBY) Bolt On $495M total · $495M / active year 1 active years · 1 buys reportedUMCUnited Microelectronics Corporation (UMC) Geographic Expansion $477M total · $119M / active year 4 active yearsICHRIchor Holdings, Ltd. (ICHR) Geographic Expansion $474M total · $79M / active year 6 active years · 7 buys reportedPEverpure, Inc. (P) Technology Acquisition $474M total · $95M / active year 5 active years · 3 buys reportedMEIMethode Electronics, Inc. (MEI) Bolt On $449M total · $45M / active year 10 active years · 11 buys reportedSANMSanmina Corporation (SANM) Geographic Expansion $442M total · $44M / active year 10 active years · 7 buys reportedLYTSLSI Industries Inc. (LYTS) Geographic Expansion $436M total · $44M / active year 10 active years · 9 buys reportedOSISOSI Systems, Inc. (OSIS) Bolt On $421M total · $25M / active year 17 active years · 8 buys reportedALGMAllegro Microsystems, Inc. (ALGM) Technology Acquisition $413M total · $207M / active year 2 active years · 3 buys reportedBMIBadger Meter, Inc. (BMI) Mixed strategy $410M total · $27M / active year 15 active years · 17 buys reportedPENGPenguin Solutions, Inc. (PENG) Geographic Expansion $367M total · $92M / active year 4 active years · 5 buys reportedAMBAAmbarella, Inc. (AMBA) Technology Acquisition $367M total · $122M / active year 3 active years · 1 buys reportedIPGPIPG Photonics Corp. (IPGP) Bolt On $329M total · $25M / active year 13 active years · 11 buys reportedUCLEUS Nuclear Corp. (UCLE) Mixed strategy $314M total · $157M / active year 2 active yearsSITMSiTime Corporation (SITM) Mixed strategy $298M total · $149M / active year 2 active yearsRELLRichardson Electronics, Ltd. (RELL) Geographic Expansion $287M total · $41M / active year 7 active years · 4 buys reportedLCTCLifeloc Technologies, Inc. (LCTC) Geographic Expansion $268M total · $67M / active year 4 active years · 3 buys reportedPXLWPixelworks, Inc. (PXLW) Technology Acquisition $253M total · $84M / active year 3 active years · 3 buys reportedUEICUniversal Electronics Inc. (UEIC) Technology Acquisition $240M total · $30M / active year 8 active years · 4 buys reportedNVMINova Ltd. (NVMI) Horizontal Consolidation $239M total · $48M / active year 5 active years · 3 buys reportedMKSIMKS Inc. (MKSI) Geographic Expansion $231M total · $19M / active year 12 active years · 13 buys reportedGPROGoPro, Inc. (GPRO) Mixed strategy $213M total · $43M / active year 5 active years · 5 buys reportedTBCHTurtle Beach Corporation (TBCH) Geographic Expansion $209M total · $42M / active year 5 active years · 3 buys reportedCAMTCamtek Ltd. (CAMT) Geographic Expansion $206M total · $69M / active year 3 active years · 3 buys reportedSONOSonos, Inc. (SONO) Talent Acquisition $199M total · $66M / active year 3 active years · 4 buys reportedSCNDScientific Industries, Inc. (SCND) Technology Acquisition $193M total · $39M / active year 5 active years · 5 buys reportedOLEDUniversal Display Corporation (OLED) Technology Acquisition $185M total · $46M / active year 4 active years · 1 buys reportedVPGVishay Precision Group, Inc. (VPG) Vertical Integration $167M total · $33M / active year 5 active years · 6 buys reportedXPERXperi Inc. (XPER) Mixed strategy $153M total · $77M / active year 2 active yearsNXTNextpower Inc. (NXT) Bolt On $152M total · $152M / active year 1 active years · 3 buys reportedINTTInTest Corporation (INTT) Mixed strategy $135M total · $17M / active year 8 active years · 8 buys reportedKLICKulicke and Soffa Industries, Inc. (KLIC) Bolt On $130M total · $13M / active year 10 active years · 9 buys reportedCRSRCorsair Gaming, Inc. (CRSR) Bolt On $127M total · $21M / active year 6 active years · 9 buys reportedINDIindie Semiconductor, Inc. (INDI) Geographic Expansion $125M total · $31M / active year 4 active years · 7 buys reportedASYSAmtech Systems, Inc. (ASYS) Geographic Expansion $117M total · $13M / active year 9 active years · 10 buys reportedALOTAstroNova, Inc. (ALOT) Bolt On $107M total · $11M / active year 10 active years · 9 buys reportedNNDMNano Dimension Ltd. (NNDM) Bolt On $106M total · $53M / active year 2 active years · 5 buys reportedIMOSChipMOS TECHNOLOGIES INC. (IMOS) Mixed strategy $90M total · $30M / active year 3 active yearsSKYTSkyWater Technology, Inc. (SKYT) Geographic Expansion $87M total · $87M / active year 1 active years · 1 buys reportedPLXSPlexus Corp. (PLXS) Geographic Expansion $82M total · $21M / active year 4 active years · 2 buys reportedPRSOPeraso Inc. (PRSO) Technology Acquisition $67M total · $11M / active year 6 active years · 3 buys reportedALNTAllient Inc. (ALNT) Bolt On $66M total · $6M / active year 12 active years · 15 buys reportedINVEIdentiv, Inc. (INVE) Bolt On $66M total · $8M / active year 8 active years · 9 buys reportedROGRogers Corporation (ROG) Bolt On $61M total · $7M / active year 9 active years · 7 buys reportedUAVSAgeagle Aerial Systems Inc. (UAVS) Bolt On $55M total · $14M / active year 4 active years · 17 buys reportedTACTTransact Technologies Inc. (TACT) Mixed strategy $54M total · $27M / active year 2 active years · 2 buys reportedAATCAutoscope Technologies Corp. (AATC) Technology Acquisition $51M total · $10M / active year 5 active years · 4 buys reportedGLWCorning Inc. (GLW) Geographic Expansion $49M total · $4M / active year 12 active years · 18 buys reportedCEVACeva, Inc. (CEVA) Bolt On $48M total · $12M / active year 4 active years · 5 buys reportedAOSLAlpha and Omega Semiconductor Limited (AOSL) Geographic Expansion $43M total · $22M / active year 2 active years · 2 buys reportedWKEYWisekey International Holding S.A. (WKEY) Mixed strategy $43M total · $21M / active year 2 active yearsMINDMind Technology, Inc. (MIND) Geographic Expansion $31M total · $4M / active year 7 active years · 6 buys reportedQURTQuarta-Rad, Inc. (QURT) Mixed strategy $30M total · $30M / active year 1 active yearsALABAstera Labs, Inc. (ALAB) Horizontal Consolidation $29M total · $29M / active year 1 active years · 1 buys reportedKULRKulr Technology Group, Inc. (KULR) Technology Acquisition $25M total · $12M / active year 2 active years · 1 buys reportedDAKTDaktronics, Inc. (DAKT) Geographic Expansion $24M total · $3M / active year 7 active years · 9 buys reportedLPTHLightpath Technologies Inc. (LPTH) Bolt On $24M total · $6M / active year 4 active years · 3 buys reportedGNSSGenasys Inc. (GNSS) Technology Acquisition $24M total · $6M / active year 4 active years · 7 buys reportedMPWRMonolithic Power Systems Inc. (MPWR) Horizontal Consolidation $21M total · $7M / active year 3 active years · 3 buys reportedVLNValens Semiconductor Ltd. (VLN) Mixed strategy $19M total · $10M / active year 2 active years · 2 buys reportedNSYSNortech Systems Incorporated (NSYS) Bolt On $19M total · $3M / active year 6 active years · 6 buys reportedUSBCUsbc, Inc. (USBC) Platform $18M total · $6M / active year 3 active years · 8 buys reportedIONQIonq, Inc. (IONQ) Bolt On $18M total · $4M / active year 4 active years · 8 buys reportedFORMFormFactor, Inc. (FORM) Horizontal Consolidation $17M total · $2M / active year 7 active years · 8 buys reportedGSITGSI Technology, Inc. (GSIT) Technology Acquisition $16M total · $5M / active year 3 active years · 3 buys reportedWBXWallbox N.V. (WBX) Geographic Expansion $15M total · $8M / active year 2 active years · 1 buys reportedKOPNKopin Corporation (KOPN) Technology Acquisition $14M total · $2M / active year 6 active years · 6 buys reportedLGLLGL Group Inc. (LGL) Bolt On $12M total · $4M / active year 3 active years · 5 buys reportedNEONNeonode Inc. (NEON) Technology Acquisition $12M total · $12M / active year 1 active years · 1 buys reportedBHEBenchmark Electronics, Inc. (BHE) Bolt On $11M total · $2M / active year 6 active years · 6 buys reportedAEHRAehr Test Systems (AEHR) Mixed strategy $11M total · $11M / active year 1 active years · 1 buys reportedLAESSEALSQ Corp (LAES) Mixed strategy $11M total · $11M / active year 1 active years · 1 buys reportedPOETPoet Technologies Inc. (POET) Mixed strategy $11M total · $11M / active year 1 active years · 1 buys reportedLPLLG Display Co., Ltd. (LPL) Mixed strategy $10M total · $3M / active year 4 active years · 2 buys reportedTRCKTrack Group, Inc. (TRCK) Bolt On $10M total · $3M / active year 3 active years · 10 buys reportedPLABPhotronics, Inc. (PLAB) Horizontal Consolidation $9M total · $9M / active year 1 active years · 2 buys reportedSIMOSilicon Motion Technology Corporation (SIMO) Geographic Expansion $8M total · $2M / active year 5 active years · 4 buys reportedAITXArtificial Intelligence Technology Solutions, Inc. (AITX) Bolt On $8M total · $3M / active year 3 active years · 5 buys reportedKTCCKEY Tronic Corporation (KTCC) Geographic Expansion $8M total · $8M / active year 1 active years · 3 buys reportedFEIMFrequency Electronics, Inc. (FEIM) Bolt On $8M total · $3M / active year 3 active years · 1 buys reportedLINKInterlink Electronics, Inc. (LINK) Bolt On $7M total · $2M / active year 3 active years · 1 buys reportedSODISolitron Devices, Inc. (SODI) Mixed strategy $7M total · $2M / active year 3 active years · 2 buys reportedGFSGLOBALFOUNDRIES Inc. (GFS) Mixed strategy $5M total · $3M / active year 2 active years · 4 buys reportedAIPArteris, Inc. (AIP) Technology Acquisition $5M total · $2M / active year 3 active years · 3 buys reportedAMKRAmkor Technology, Inc. (AMKR) Geographic Expansion $4M total · $1M / active year 4 active years · 3 buys reportedZEPPZepp Health Corp. (ZEPP) Mixed strategy $4M total · $2M / active year 2 active yearsPOWIPower Integrations, Inc. (POWI) Technology Acquisition $3M total · $425K / active year 8 active years · 6 buys reportedQXLViewbix Inc. (QXL) Bolt On $3M total · $2M / active year 2 active years · 2 buys reportedFNFabrinet (FN) Mixed strategy $3M total · $2M / active year 2 active years · 1 buys reportedHIMXHimax Technologies, Inc. (HIMX) Technology Acquisition $3M total · $660K / active year 5 active years · 6 buys reportedLEDSSemiLEDs Corp (LEDS) Geographic Expansion $3M total · $2M / active year 2 active years · 3 buys reportedSMCISuper Micro Computer, Inc. (SMCI) Mixed strategy $3M total · $1M / active year 2 active years · 1 buys reportedVUZIVuzix Corporation (VUZI) Technology Acquisition $2M total · $2M / active year 1 active years · 1 buys reportedELSEElectro Sensors Inc. (ELSE) Mixed strategy $2M total · $1M / active year 2 active years · 1 buys reportedDAIOData I/o Corporation (DAIO) Technology Acquisition $2M total · $2M / active year 1 active years · 1 buys reportedBKSYBlacksky Technology Inc. (BKSY) Platform $2M total · $850K / active year 2 active years · 1 buys reportedVICRVicor Corporation (VICR) Bolt On $2M total · $2M / active year 1 active years · 2 buys reportedRIMEAlgorhythm Holdings, Inc. (RIME) Technology Acquisition $1M total · $1M / active year 1 active years · 1 buys reportedITOXIIOT-OXYS, Inc. (ITOX) Tuck In $1M total · $1M / active year 1 active years · 1 buys reportedTSEMTower Semiconductor Ltd. (TSEM) Bolt On $800K total · $800K / active year 1 active years · 3 buys reportedNVTSNavitas Semiconductor Corporation (NVTS) Geographic Expansion $700K total · $700K / active year 1 active years · 1 buys reportedADTTFAdvantest Corp. (ADTTF) Horizontal Consolidation $500K total · $500K / active year 1 active years · 1 buys reportedWRAPWrap Technologies, Inc. (WRAP) Technology Acquisition $200K total · $200K / active year 1 active years · 4 buys reportedHOLOMicroCloud Hologram Inc. (HOLO) Mixed strategy $100K total · $100K / active year 1 active years · 1 buys reported
BuyerDominant playDisclosed spendSpend / yrBuys3-yr spend trend
Broadcom Inc.AVGOHorizontal Consolidation
$83.8B
$12B16

Accelerating

+366%

Intel Corp.INTCPlatform
$46.1B
$3.1B97

Winding down

$1B → $100K

Dell Technologies Inc.DELLN/A
$42.4B
$4.7B1

Cooling

-59%

HP Inc.HPQGeographic Expansion
$19.5B
$1.1B37

Accelerating

+122%

Qualcomm Inc.QCOMTechnology Acquisition
$18.8B
$1.1B83

Cooling

-84%

Western Digital CorporationWDCGeographic Expansion
$18.7B
$1.7B5

Paused

$22M prior

Amphenol Corp.APHGeographic Expansion
$13.9B
$730M66

Accelerating

+278%

Fortive CorporationFTVBolt On
$13B
$1.3B18

Cooling

-30%

Microchip Technology IncorporatedMCHPBolt On
$12.7B
$1.3B7

Steady

+0% (count)

Nvidia Corp.NVDAPlatform
$12.3B
$1B7

Cooling

-70%

Entegris, Inc.ENTGGeographic Expansion
$11.4B
$946M8

Accelerating

+50%

TE Connectivity PLCTELGeographic Expansion
$10.5B
$698M39

Accelerating

+362%

Red Cat Holdings, Inc.RCATTalent Acquisition
$10.1B
$2.5B6

Winding down

$2B → $14M

Mobix Labs, Inc.MOBXTechnology Acquisition
$9.5B
$4.8B3

New cycle

$9.5B recent

Advanced Micro Devices, Inc.AMDTechnology Acquisition
$8.4B
$1.2B9

Accelerating

+58%

Teledyne Technologies Inc.TDYBolt On
$7.8B
$436M43

Cooling

-75%

Stratasys Ltd.SSYSBolt On
$7.8B
$864M11

New cycle

$6.2B recent

Canon Inc.CAJFFGeographic Expansion
$7.3B
$2.4B3

Steady

+0% (count)

Trimble Inc.TRMBGeographic Expansion
$7.2B
$399M102

Accelerating

+264%

Qorvo, Inc.QRVOPlatform
$6.7B
$834M5

Winding down

$993M → $84M

LAM Research CorporationLRCXBolt On
$6.3B
$787M6

New cycle

$120M recent

ON Semiconductor CorporationONGeographic Expansion
$6.3B
$417M16

Cooling

-83%

One Stop Systems, Inc.OSSTechnology Acquisition
$6B
$3B1

Steady

+0% (count)

Coherent Corp.COHRBolt On
$6B
$425M15

Winding down

$4B → $39M

Itron, Inc.ITRITechnology Acquisition
$5.6B
$696M9

New cycle

$365M recent

Keysight Technologies, Inc.KEYSTechnology Acquisition
$5.5B
$554M14

Accelerating

+615%

MaxLinear, Inc.MXLTechnology Acquisition
$5.2B
$576M8

Winding down

$4.5B → $26M

Flex Ltd.FLEXGeographic Expansion
$4.8B
$269M5

Steady

-25%

Micron Technology Inc.MUPlatform
$4.8B
$531M10

Steady

+0% (count)

Acorn Energy, Inc.ACFNPlatform
$4.4B
$885M2

Steady

+0% (count)

MicroVision, Inc.MVISTechnology Acquisition
$4.1B
$1.4B2

Winding down

$4.1B → $18M

Semtech CorporationSMTCGeographic Expansion
$4.1B
$375M14

Accelerating

+106%

Skyworks Solutions, Inc.SWKSTechnology Acquisition
$3.8B
$384M13

Paused

$2.8B prior

KLA CorporationKLACGeographic Expansion
$3.7B
$338M23

Winding down

$549M → $33M

Seagate Technology Holdings plcSTXHorizontal Consolidation
$3.7B
$462M7

New cycle

$7M recent

Marvell Technology, Inc.MRVLBolt On
$3.7B
$1.2BN/A

Winding down

$3.7B → $10M

Vishay Intertechnology Inc.VSHGeographic Expansion
$3.6B
$300M22

New cycle

$2.9B recent

Arrow Electronics, Inc.ARWBolt On
$3.4B
$240M57

New cycle

$400K recent

Sensata Technologies Holding PLCSTBolt On
$3.2B
$395M11

Paused

$1.4B prior

NetApp, Inc.NTAPTechnology Acquisition
$3.1B
$223M16

Cooling

-39%

Apple Inc.AAPLN/A
$2.9B
$320M1

Paused

$308M prior

Onto Innovation Inc.ONTOBolt On
$2.8B
$280M11

Cooling

-58%

Sony Group CorporationSONYBolt On
$2.7B
$210M6

Cooling

-86%

Quantum Corp.QMCOBolt On
$2.6B
$319M4

Winding down

$2B → $3M

TTM Technologies, Inc.TTMIHorizontal Consolidation
$2.4B
$268M8

Steady

+0%

Analog Devices, Inc.ADIGeographic Expansion
$2.3B
$227M11

Steady

-50% (count)

STMicroelectronics N.V.STMHorizontal Consolidation
$2.2B
$246M6

Paused

$113M prior

Jabil Inc.JBLGeographic Expansion
$2B
$135M13

Accelerating

+34%

Celestica Inc.CLSGeographic Expansion
$2B
$155M9

Cooling

-37%

Applied Materials Inc.AMATBolt On
$1.9B
$114M13

Cooling

-88%

Synaptics IncorporatedSYNATechnology Acquisition
$1.9B
$189M8

Cooling

-69%

Wolfspeed, Inc.WOLFBolt On
$1.6B
$156M8

Steady

+0% (count)

ASE Technology Holding Co., Ltd.ASXGeographic Expansion
$1.5B
$186M6

Winding down

$867M → $40M

Quantum Computing Inc.QUBTN/A
$1.4B
$720M1

Winding down

$1.4B → $83M

Graphene & Solar Technologies LimitedGSTXVertical Integration
$1.4B
$701M2

New cycle

$710M recent

Diodes Inc.DIODGeographic Expansion
$1.3B
$95M10

Steady

-24%

Teradyne, Inc.TERBolt On
$1.3B
$127M12

New cycle

$144M recent

Vontier CorporationVNTBolt On
$1.2B
$414M6

Winding down

$1.2B → $11M

NXP Semiconductors N.V.NXPIHorizontal Consolidation
$1.2B
$309M3

New cycle

$1.2B recent

Garmin Ltd.GRMNBolt On
$1.1B
$58M29

Accelerating

+88%

3d Systems CorporationDDDBolt On
$1.1B
$99M52

Winding down

$236M → $7M

MACOM Technology Solutions Holdings, Inc.MTSIN/A
$1.1B
$117M12

New cycle

$173M recent

Esco Technologies Inc.ESEBolt On
$1.1B
$117M6

Accelerating

+204%

Silicon Laboratories Inc.SLABTechnology Acquisition
$1B
$75M12

Paused

$317M prior

Kyocera Corp.KYOCFGeographic Expansion
$1B
$174M21

Steady

+0% (count)

Arista Networks, Inc.ANETTechnology Acquisition
$1B
$171M9

Cooling

-52%

BEL Fuse Inc.BELFABolt On
$1B
$77M15

New cycle

$725M recent

Novanta Inc.NOVTGeographic Expansion
$987M
$82M19

Steady

-17%

Logitech International S.a.LOGITechnology Acquisition
$920M
$71M10

Winding down

$151M → $500K

Mesa Laboratories, Inc.MLABBolt On
$914M
$61M31

Cooling

-87%

Texas Instruments IncorporatedTXNN/A
$893M
$893M1

Paused

$893M prior

Ebang International Holdings Inc.EBONN/A
$874M
$437MN/A

New cycle

$874M recent

Cirrus Logic, Inc.CRUSTechnology Acquisition
$833M
$104M9

Paused

$277M prior

Ultra Clean Holdings, Inc.UCTTN/A
$739M
$74M13

New cycle

$193M recent

Cohu, Inc.COHUGeographic Expansion
$738M
$92M8

New cycle

$561M recent

Littelfuse Inc.LFUSGeographic Expansion
$733M
$56M18

Accelerating

+678%

Lattice Semiconductor CorpLSCCPlatform
$707M
$177M5

Paused

$68M prior

CTS CorporationCTSGeographic Expansion
$701M
$70M12

Cooling

-30%

Ouster, Inc.OUSTTechnology Acquisition
$697M
$174M3

Accelerating

+635%

Nlight, Inc.LASRN/A
$683M
$137M3

New cycle

$664M recent

Cognex CorporationCGNXTechnology Acquisition
$663M
$133M10

New cycle

$315M recent

Infineon Technologies AGIFNNFBolt On
$644M
$322M4

Steady

+0% (count)

Rambus Inc.RMBSBolt On
$640M
$71M14

Paused

$113M prior

Asml Holding NVASMLTechnology Acquisition
$630M
$126M6

Paused

$597M prior

Veeco Instruments Inc.VECOBolt On
$627M
$70M8

New cycle

$30M recent

DarkPulse, Inc.DPLSN/A
$583M
$292M1

Winding down

$583M → $100K

Focus Universal Inc.FCUVPlatform
$550M
$550M1

Steady

+0% (count)

MINEBEA MITSUMI Inc.MINBYBolt On
$495M
$495M1

Steady

+0% (count)

United Microelectronics CorporationUMCGeographic Expansion
$477M
$119MN/A

Paused

$429M prior

Ichor Holdings, Ltd.ICHRGeographic Expansion
$474M
$79M7

Paused

$274M prior

Everpure, Inc.PTechnology Acquisition
$474M
$95M3

Accelerating

+418%

Methode Electronics, Inc.MEIBolt On
$449M
$45M11

New cycle

$249M recent

Sanmina CorporationSANMGeographic Expansion
$442M
$44M7

Paused

$29M prior

LSI Industries Inc.LYTSGeographic Expansion
$436M
$44M9

Cooling

-56%

OSI Systems, Inc.OSISBolt On
$421M
$25M8

Steady

-11%

Allegro Microsystems, Inc.ALGMTechnology Acquisition
$413M
$207M3

New cycle

$412M recent

Badger Meter, Inc.BMIN/A
$410M
$27M17

Accelerating

+174%

Penguin Solutions, Inc.PENGGeographic Expansion
$367M
$92M5

Accelerating

+497%

Ambarella, Inc.AMBATechnology Acquisition
$367M
$122M1

Paused

$307M prior

IPG Photonics Corp.IPGPBolt On
$329M
$25M11

Accelerating

+2700%

US Nuclear Corp.UCLEN/A
$314M
$157MN/A

New cycle

$31M recent

SiTime CorporationSITMN/A
$298M
$149MN/A

New cycle

$298M recent

Richardson Electronics, Ltd.RELLGeographic Expansion
$287M
$41M4

Steady

+0% (count)

Lifeloc Technologies, Inc.LCTCGeographic Expansion
$268M
$67M3

Paused

$266M prior

Pixelworks, Inc.PXLWTechnology Acquisition
$253M
$84M3

Steady

+0% (count)

Universal Electronics Inc.UEICTechnology Acquisition
$240M
$30M4

Paused

$100K prior

Nova Ltd.NVMIHorizontal Consolidation
$239M
$48M3

Cooling

-26%

MKS Inc.MKSIGeographic Expansion
$231M
$19M13

Cooling

-88%

GoPro, Inc.GPRON/A
$213M
$43M5

New cycle

$26M recent

Turtle Beach CorporationTBCHGeographic Expansion
$209M
$42M3

Accelerating

+3092%

Camtek Ltd.CAMTGeographic Expansion
$206M
$69M3

New cycle

$205M recent

Sonos, Inc.SONOTalent Acquisition
$199M
$66M4

Paused

$199M prior

Scientific Industries, Inc.SCNDTechnology Acquisition
$193M
$39M5

Paused

$8M prior

Universal Display CorporationOLEDTechnology Acquisition
$185M
$46M1

New cycle

$116M recent

Vishay Precision Group, Inc.VPGVertical Integration
$167M
$33M6

Paused

$47M prior

Xperi Inc.XPERN/A
$153M
$77MN/A

Accelerating

+104%

Nextpower Inc.NXTBolt On
$152M
$152M3

New cycle

$152M recent

InTest CorporationINTTN/A
$135M
$17M8

Accelerating

+193%

Kulicke and Soffa Industries, Inc.KLICBolt On
$130M
$13M9

Accelerating

+43%

Corsair Gaming, Inc.CRSRBolt On
$127M
$21M9

Accelerating

+295%

indie Semiconductor, Inc.INDIGeographic Expansion
$125M
$31M7

New cycle

$116M recent

Amtech Systems, Inc.ASYSGeographic Expansion
$117M
$13M10

Accelerating

+1437%

AstroNova, Inc.ALOTBolt On
$107M
$11M9

New cycle

$53M recent

Nano Dimension Ltd.NNDMBolt On
$106M
$53M5

New cycle

$106M recent

ChipMOS TECHNOLOGIES INC.IMOSN/A
$90M
$30MN/A

Steady

no signal

SkyWater Technology, Inc.SKYTGeographic Expansion
$87M
$87M1

New cycle

$87M recent

Plexus Corp.PLXSGeographic Expansion
$82M
$21M2

Steady

+0% (count)

Peraso Inc.PRSOTechnology Acquisition
$67M
$11M3

Paused

$38M prior

Allient Inc.ALNTBolt On
$66M
$6M15

Cooling

-68%

Identiv, Inc.INVEBolt On
$66M
$8M9

Paused

$39M prior

Rogers CorporationROGBolt On
$61M
$7M7

Paused

$26M prior

Ageagle Aerial Systems Inc.UAVSBolt On
$55M
$14M17

Paused

$45M prior

Transact Technologies Inc.TACTN/A
$54M
$27M2

Steady

+0% (count)

Autoscope Technologies Corp.AATCTechnology Acquisition
$51M
$10M4

Steady

+0% (count)

Corning Inc.GLWGeographic Expansion
$49M
$4M18

New cycle

$100K recent

Ceva, Inc.CEVABolt On
$48M
$12M5

Accelerating

+205%

Alpha and Omega Semiconductor LimitedAOSLGeographic Expansion
$43M
$22M2

Steady

+0% (count)

Wisekey International Holding S.A.WKEYN/A
$43M
$21MN/A

Paused

$2M prior

Mind Technology, Inc.MINDGeographic Expansion
$31M
$4M6

Paused

$5M prior

Quarta-Rad, Inc.QURTN/A
$30M
$30MN/A

Paused

$30M prior

Astera Labs, Inc.ALABHorizontal Consolidation
$29M
$29M1

New cycle

$29M recent

Kulr Technology Group, Inc.KULRTechnology Acquisition
$25M
$12M1

Accelerating

+500%

Daktronics, Inc.DAKTGeographic Expansion
$24M
$3M9

Steady

+0% (count)

Genasys Inc.GNSSTechnology Acquisition
$24M
$6M7

Cooling

-65%

Lightpath Technologies Inc.LPTHBolt On
$24M
$6M3

New cycle

$19M recent

Monolithic Power Systems Inc.MPWRHorizontal Consolidation
$21M
$7M3

New cycle

$9M recent

Valens Semiconductor Ltd.VLNN/A
$19M
$10M2

New cycle

$19M recent

Nortech Systems IncorporatedNSYSBolt On
$19M
$3M6

Steady

+0% (count)

Usbc, Inc.USBCPlatform
$18M
$6M8

New cycle

$15M recent

Ionq, Inc.IONQBolt On
$18M
$4M8

Accelerating

+2025%

FormFactor, Inc.FORMHorizontal Consolidation
$17M
$2M8

Cooling

-80%

GSI Technology, Inc.GSITTechnology Acquisition
$16M
$5M3

Steady

+0% (count)

Wallbox N.V.WBXGeographic Expansion
$15M
$8M1

New cycle

$15M recent

Kopin CorporationKOPNTechnology Acquisition
$14M
$2M6

Steady

+0% (count)

LGL Group Inc.LGLBolt On
$12M
$4M5

New cycle

$3M recent

Neonode Inc.NEONTechnology Acquisition
$12M
$12M1

Steady

-100% (count)

Benchmark Electronics, Inc.BHEBolt On
$11M
$2M6

Steady

+0% (count)

Aehr Test SystemsAEHRN/A
$11M
$11M1

New cycle

$11M recent

SEALSQ CorpLAESN/A
$11M
$11M1

New cycle

$11M recent

Poet Technologies Inc.POETN/A
$11M
$11M1

Steady

+0% (count)

LG Display Co., Ltd.LPLN/A
$10M
$3M2

New cycle

$5M recent

Track Group, Inc.TRCKBolt On
$10M
$3M10

Steady

+0% (count)

Photronics, Inc.PLABHorizontal Consolidation
$9M
$9M2

Steady

+0% (count)

Silicon Motion Technology CorporationSIMOGeographic Expansion
$8M
$2M4

Paused

$100K prior

Artificial Intelligence Technology Solutions, Inc.AITXBolt On
$8M
$3M5

Steady

+0% (count)

KEY Tronic CorporationKTCCGeographic Expansion
$8M
$8M3

Steady

+0% (count)

Frequency Electronics, Inc.FEIMBolt On
$8M
$3M1

Steady

+0% (count)

Interlink Electronics, Inc.LINKBolt On
$7M
$2M1

Accelerating

+206%

Solitron Devices, Inc.SODIN/A
$7M
$2M2

Cooling

-40%

GLOBALFOUNDRIES Inc.GFSN/A
$5M
$3M4

New cycle

$5M recent

Arteris, Inc.AIPTechnology Acquisition
$5M
$2M3

Accelerating

+94%

Amkor Technology, Inc.AMKRGeographic Expansion
$4M
$1M3

Steady

+0% (count)

Zepp Health Corp.ZEPPN/A
$4M
$2MN/A

Accelerating

+1167%

Power Integrations, Inc.POWITechnology Acquisition
$3M
$425K6

New cycle

$200K recent

Viewbix Inc.QXLBolt On
$3M
$2M2

New cycle

$3M recent

FabrinetFNN/A
$3M
$2M1

Steady

+0% (count)

Himax Technologies, Inc.HIMXTechnology Acquisition
$3M
$660K6

Paused

$100K prior

SemiLEDs CorpLEDSGeographic Expansion
$3M
$2M3

Steady

+0% (count)

Super Micro Computer, Inc.SMCIN/A
$3M
$1M1

New cycle

$3M recent

Vuzix CorporationVUZITechnology Acquisition
$2M
$2M1

Paused

$2M prior

Electro Sensors Inc.ELSEN/A
$2M
$1M1

Steady

+0% (count)

Data I/o CorporationDAIOTechnology Acquisition
$2M
$2M1

Steady

+0% (count)

Blacksky Technology Inc.BKSYPlatform
$2M
$850K1

New cycle

$2M recent

Vicor CorporationVICRBolt On
$2M
$2M2

Steady

+0% (count)

Algorhythm Holdings, Inc.RIMETechnology Acquisition
$1M
$1M1

New cycle

$1M recent

IIOT-OXYS, Inc.ITOXTuck In
$1M
$1M1

Steady

+0% (count)

Tower Semiconductor Ltd.TSEMBolt On
$800K
$800K3

Steady

+0% (count)

Navitas Semiconductor CorporationNVTSGeographic Expansion
$700K
$700K1

Paused

$700K prior

Advantest Corp.ADTTFHorizontal Consolidation
$500K
$500K1

Steady

+0% (count)

Wrap Technologies, Inc.WRAPTechnology Acquisition
$200K
$200K4

Paused

$200K prior

MicroCloud Hologram Inc.HOLON/A
$100K
$100K1

New cycle

$100K recent

Playbook theatre

The language of consolidation, by archetype

Direct sentences from public buyers' 10-K filings, grouped by the strategy they describe.

“We continually evaluate potential mergers and acquisitions that align with our business portfolio strategy.”

Fortive CorporationFTVFY2024

“The acquisition of Coherent, Inc. (“Legacy Coherent”), one of the world’s leading providers of laser and optics-based product solutions, closed on July 1, 2022.”

Coherent Corp.COHRFY2023

“Applied's primary reasons for this acquisition were to complement existing product offerings and to provide opportunities for future growth.”

Applied Materials Inc.AMATFY2012

“Sony actively engages in acquisitions, joint ventures, capital expenditures and other strategic investments to acquire new technologies, efficiently develop new businesses and enhance its business competitiveness.”

Sony Group CorporationSONYFY2025

“consolidating and streamlining sales, marketing and corporate operations;”

Onto Innovation Inc.ONTOFY2018

“Our acquisition strategy is focused on businesses that complement our existing portfolio and those that expand our global presence further into life sciences tools and critical quality control solutions markets for regulated applications.”

Mesa Laboratories, Inc.MLABFY2025

Submarkets

Where the cadence lives

Activity intensity, lead buyers, and footprint per segment within this market.

Semiconductors & Chip Platforms

677

Analog, logic, sensor, power, RF, memory, equipment, and chip-design platforms.

Buyers

82

Core

48

Spend

$284.3B

2006–2025 · last year 41

Electronic Components & Hardware

1,072

Connectors, meters, embedded hardware, printed electronics, specialty devices, and component platforms.

Buyers

108

Core

57

Spend

$246.3B

2006–2025 · last year 48

Accelerators

Recent 3-yr cadence above prior

8

Coolers

Recent 3-yr cadence below prior

8

Trajectory

20 years of cadence and spend

Annual recorded buys and disclosed spend across the matched buyer set.

0591172006: 55 buys · $9.5B spend · 34 buyers2007: 78 buys · $6.9B spend · 44 buyers2008: 86 buys · $6B spend · 40 buyers2009: 57 buys · $5.1B spend · 36 buyers2010: 106 buys · $14.4B spend · 46 buyers2011: 100 buys · $35.3B spend · 49 buyers2012: 113 buys · $15.9B spend · 58 buyers2013: 97 buys · $8.6B spend · 41 buyers2014: 117 buys · $19.1B spend · 50 buyers2015: 112 buys · $11.6B spend · 53 buyers2016: 108 buys · $85.8B spend · 55 buyers2017: 93 buys · $37.3B spend · 53 buyers2018: 97 buys · $22.9B spend · 58 buyers2019: 65 buys · $44.2B spend · 37 buyers2020: 66 buys · $31.8B spend · 41 buyers2021: 90 buys · $24.8B spend · 56 buyers2022: 96 buys · $32.7B spend · 53 buyers2023: 55 buys · $16.6B spend · 44 buyers2024: 58 buys · $39B spend · 48 buyers2025: 87 buys · $63.2B spend · 52 buyers2006: 55 buys · $9.5B spend · 34 buyers2007: 78 buys · $6.9B spend · 44 buyers2008: 86 buys · $6B spend · 40 buyers2009: 57 buys · $5.1B spend · 36 buyers2010: 106 buys · $14.4B spend · 46 buyers2011: 100 buys · $35.3B spend · 49 buyers2012: 113 buys · $15.9B spend · 58 buyers2013: 97 buys · $8.6B spend · 41 buyers2014: 117 buys · $19.1B spend · 50 buyers2015: 112 buys · $11.6B spend · 53 buyers2016: 108 buys · $85.8B spend · 55 buyers2017: 93 buys · $37.3B spend · 53 buyers2018: 97 buys · $22.9B spend · 58 buyers2019: 65 buys · $44.2B spend · 37 buyers2020: 66 buys · $31.8B spend · 41 buyers2021: 90 buys · $24.8B spend · 56 buyers2022: 96 buys · $32.7B spend · 53 buyers2023: 55 buys · $16.6B spend · 44 buyers2024: 58 buys · $39B spend · 48 buyers2025: 87 buys · $63.2B spend · 52 buyers20062011201620212025
Recorded buysDisclosed spend (rescaled)