The merger and acquisition cycle in the Mapping, Modeling & Simulation (MM&S) industry has entered a “boom” phase, making this quarter a very attractive seller’s market. Through Q4 2015, deal volume is on pace to exceed record levels seen in 2014 and deal valuations remain at a premium. This heightened activity within the industry is due to a variety of factors including the spread of MM&S systems into commercial markets, the development of new applications, expanding technological capabilities and decreasing costs. All of these factors make MM&S firms especially attractive targets for strategic buyers looking to expand their market reach. Financial buyers are also active in the space due to the high growth potential of the industry.