The Digital Services industry has seen strong growth in 2021, driven by the continued digitalisation of the world. The COVID-19 pandemic has accelerated the need for investment in IT resiliency and business intelligence. In Q4 2021, there were 380+ M&A deals and $45bn+ disclosed, with 350+ fundraises and $8bn+ disclosed. Key transactions include GildeBuy Out Partners' majority recapitalisation of ]init[, Cisco's acquisition of Epsagon for $500m, Projekt202's acquisition of Roam for $31m, DriveWealth's $735m Series D funding, Orca Security's $550m Series C extension, and Kao Data's $171m funding from Infratil. The industry is expected to continue to see strong M&A activity in 2022 as companies strive to optimize business operations and migrate to the cloud.