华利安：2025年上半年全球交通科技行业更新报告（英文版）

M&A activity in the United States has stabilized in line with levels seen prior to the 2021/2022 spike. • With the Federal Reserve holding rates steady year-todate, the anticipated boom in software M&A has yet to materialize; however, analysts expect two or three rate cuts later this year, which may catalyze an increase in deal activity. • The transportation technology sector continues to see exciting consolidation and investment, with activity across the spectrum of large publicly tr