Mergers and acquisitions (M&A) have been an important component of business growth and capability expansion, but 2021 saw the biggest corporations purchasing more companies than any other year in the last decade, reported TSR.

Microsoft is one of the tech giants fueling the hot M&A market. The company led the pack in 2021 with more than 50 acquisitions and it seems like the CEO Satya Nadella is hungry for more. Microsoft capped its acquisition spree with the planned purchase of Activision Blizzard. This was a $70 billion investment in video gaming and building the metaverse. However, it is seen as just one building block for the company’s future.

Microsoft, the innovator of the ‘90s PC boom, has struggled to reinvent itself in the past decade-plus, but it has seen success with its video game platform, the popular Xbox series, and its improved workplace software, Microsoft 365.

the company is diversifying by purchasing smaller enterprises invaluable growth sectors. CEO Nadella is particularly focused on cybersecurity, one of the fastest-growing categories within the tech industry.

According to TSR, the company is already eyeing Mandiant, the cybersecurity software firm formerly known as FireEye, which is currently valued at about $4.5 billion. Microsoft picked up several security startups in 2021, including CloudKnox Security, RiskIQ, and CyberX.