CSM and Kirkland & Ellis lead H1 2025 tech M&A legal advisers

Cravath Swaine & Moore, which led by value in H1 2025, was not even among the top 10 by this metric in H1 2024. Image: GlobalData.

In the first half of 2025 (H1 2025), Cravath Swaine & Moore (CSM) and Kirkland & Ellis emerged as the top legal advisers in mergers and acquisitions (M&A) within the technology, media, and telecom sectors, according to GlobalData’s latest figures.

CSM led the field by advising on deals valued at $51.8bn, while Kirkland & Ellis handled the highest number of transactions, totalling 58.

The rankings from GlobalData, which categorise legal advisers based on both the financial value and the number of M&A transactions, show a notable shift for CSM.

GlobalData lead analyst Aurojyoti Bose said: “Cravath Swaine & Moore, which led by value in H1 2025, was not even among the top 10 by this metric in H1 2024. Due to involvement in big-ticket deals, it registered more than a four-fold jump in the total value of deals advised by it in H1 2025 compared to H1 2024.”

CSM was involved in seven transactions exceeding $1bn each, including one significant deal surpassing $30bn.

Kirkland & Ellis retained its position as the foremost adviser by volume from the first half of 2024 into 2025. Additionally, it secured seventh place in terms of deal value during H1 2025.

Latham & Watkins took second place in both categories, managing $49.8bn across 44 deals. Fenwick & West followed with transactions totalling $44bn in value, while Wachtell, Lipton, Rosen & Katz handled $42.8bn worth of deals.

According to GlobalData’s Deals Database, Paul, Weiss, Rifkind, Wharton & Garrison completed transactions amounting to $37.4bn.

For deal numbers, London-based CMS was third with 36 deals, followed by Wilson Sonsini Goodrich & Rosati with 35 and DLA Piper with 29 deals.

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