Entry criteria

Financial and legal advisors are tracked on all M&A and JV deals with value over USD 50m where information on the advisory is available via public sources as well as submissions from the advisers directly to TMT Finance.

We will be analysing data for all M&A deals announced between October 1 2024 to September 30 2025.

Following transactions are eligible for TMT Finance’s league tables:

• Deals where the target asset is in the Digital Infrastructure sector
• M&A and Joint venture transactions where both the parties target and the bidder reach a definitive agreement.
• Competing offers after the transaction is completed. 
   
• Following transactions are excluded from TMT Finance’s league tables:
• Rumoured, non-binding anticipated or cancelled deals are excluded from league tables.
• Signing of the MoU and similar arrangements are also not eligible for inclusion. 
   
• Financial Advisor League Table Inclusion Criteria:
• Advisors who provide fairness opinions or independent advisory services to board committees are considered as financial advisors and hence are eligible for ranking.
• Financial advisors who assisted the target or the bidder on matters related to Taxation, Due Diligence, Accounting, or Debt Advisory are not eligible.
• If advisory services are being provided by a Joint Venture of two financial advisor, the Joint Venture will be treated as an independent entity. 
   
• Legal Advisor League Table Inclusion Criteria:
• All Legal advisory services in relation to an M&A transaction
• Legal advisory services on financing of the M&A transaction will not be eligible for league table inclusion.
• Legal advisors partnering up with other legal advisors to provide services will also be eligible for inclusion in advisory league tables. 
   
• League Table Calculation:
• Ultimate parent companies of the legal and financial advisors will be given credit for the deals where their subsidiary carried out or represented either party in the transaction.
• Each financial advisors to bidders will receive full deal volume credit for a deal regardless of number of financial advisers and number of bidders.
• Each legal advisor to bidders will receive full deal volume credit for a deal regardless of number of legal advisers and number of bidders.
• Each financial advisor to target will receive full deal volume credit for a deal regardless of number of financial advisers.
• Each legal advisor to target will receive full deal volume credit for a deal regardless of number of legal advisers.
• Each financial advisor to bidders will receive prorated deal value credit. The prorated credit will be calculated by summing up all the financial advisors to all the bidders and then dividing the deal amount by that number.
• Each legal advisor to bidders will receive prorated deal value credit. The prorated credit will be calculated by summing up all the legal advisors to all the bidders and then dividing the deal amount by that number.
• Each financial advisor to the target will receive prorated deal value credit. The prorated credit will be calculated by summing up all the financial advisors to the target and then dividing the deal amount by that number.
• Each legal advisor to the target will receive prorated deal value credit. The prorated credit will be calculated by summing up all the legal advisors to the target and then dividing the deal amount by that number.
• Advisors advising minority shareholders in the company sale will be given the full deal value credit, not proportionally to their stake size.
• Geography is defined by the dominant geography (location of the headquarters) of the bidder, target or seller. In cases where the bidder or seller is a subsidiary and has a different geography to the parent company, geography is based on where the advice is given. Where the bidder is a consortium or a group of investors, dominant bidder's geography is defined by the headquarters of the lead investor with the largest equity stake. In case of the sale of multiple companies or assets with different geographies, dominant target geography is based on the geography with most revenue or, if not available, the geography in which the majority of the companies/assets are based.
• Industry on a transaction is defined by the dominant industry of the target company.

• Entries should highlight key individual and company successes across relevant deal successes in the timeframe of June 1st, 2024 and May 31st, 2025.
• We recommend entries use case studies to illustrate the above with specific examples of standout work carried out in the above time period.
• Judging will take into account volume and value of deals undertaken, as well as complexity, individual achievement, innovative strategic work and/or standout leadership – depending on the category.
• All entries must be written in English and submitted via our online form and should be no longer than 800 words.
• Your entry needs to tell the story behind these numbers – our judges are looking for how you, the person or company added value to deal processes and solutions to challenging circumstances.
• All corporate and private equity transactions are captured by our shortlisting process and mandates to any party on the deal are valid across buyer, seller or target.
• For the TMT Legal Advisory Trailblazer category, we are looking for a case study highlighting standout work on a particular deal (or series of deals) that was groundbreaking, innovative and complex. Tell us the story behind the numbers.
• For the Digital Infra Growth Story category we are looking for demonstrated growth by a company within the last 12 months, including organic growth and expansion, investment and financing, M&A or partnerships, and building out senior management teams.
• For the TMT Financing Bank category we are looking for the numbers (value and volume of deals done within the last 12 months) as well as specific case studies highlighting particularly complex financing structures or transactions.
   

• Deals must be valued at a minimum of US$50m.
• Deals must have officially closed between June 1st, 2024 and May 31st, 2025 including regulatory approval.
• All entries must be written in English and submitted via our online form and should be no longer than 800 words.
• Your entry may choose to highlight your successes across a number of different deals or one landmark transaction that tells the story of your year.
• We recommend entries for Deals of the Year and People and Companies use case studies highlighting client successes to presenting a successful deal. Where possible, please include key financials, dates, region, key parties involved, rationale and unique points of the deal including results and performance metrics as well as the team size, mix and collaborators.
• Your entry needs to tell the story behind these numbers – our judges are looking for how you, the person or company added value to deal processes and solutions to challenging circumstances.
• Deals will be judged on factors including size, scale, market impact, complexity, financing, and any other relevant conditions under which the transaction was executed.
• All corporate and private equity transactions are captured by our shortlisting process and mandates to any party on the deal are valid across buyer, seller or target.