This year-end brief looks across the marketing and performance deal table and sets expectations for how RAD Intel will lean into 2026.

2025 was the year the market stopped rewarding size for its own sake. Across marketing, advertising, and performance, the most interesting deals didn’t come from giant platforms. They came from high-performing independent shops that already knew how to win in a narrow lane — then plugged into a larger system to go further. You can see it in how holding companies and PE-backed roll-ups prioritized specialist search, social, and performance shops over yet another generic “full-service” acquisition.

In performance marketing and lead generation, independent teams with clean unit economics and tight execution drew the most attention. Think search and social agencies that consistently beat platform benchmarks, creator-led studios that turn audiences into predictable acquisition channels, and lead-gen firms that can show conversion and LTV on a dashboard instead of a slide. These are the shops buyers called first when they wanted results, not just capacity. Their common thread: operators who can explain, in simple terms, how each decision shows up in revenue and margin.​

At RAD Intel, that’s where our AI Buyout (AIBO) strategy is pointed. We’re focused on high-performing independent shops that already win in their lane and can compound faster on a shared platform. In practice, that means three things:

  • A paid media, demand-gen, or creative engine that hits targets quarter after quarter.

  • A clear view of how work becomes margin — channel mix, staffing, and tooling all lined up against outcomes.

  • A product, service, or specialty that travels well once you give it more reach, whether that’s a vertical-focused performance team, a creator-led content engine, or a lead-gen shop with a repeatable playbook.​

The AI layer matters here, but it sits in the workflows, not the pitch. The shops we watch most closely use AI to pressure-test creative before launch, score and route leads in real time, and catch channel fatigue before it turns into wasted spend. In those environments, AI isn’t a separate “initiative” — it’s built into planning, optimization, and reporting. Those independents are entering 2026 with more options than peers still treating AI as something to bolt on later.

For founders, the takeaway is straightforward: independence is an asset when the fundamentals are strong. You don’t have to chase scale at any cost. You do have to show that what you’re doing works, that it can travel across clients or categories, and where the right partner can help you go faster without breaking what already works. For investors and operators on the other side of the table, the opportunity is pairing those independents with a shared platform that adds data, systems, and reach without diluting the edge that made them valuable in the first place.​

We’re already in active conversations with several high-performing independent shops that fit this profile, and you’ll see more of that reflected in how we talk about the portfolio in 2026. We’re building AIBO for that version of the market.

Verticals We’re Watching in 2026

  • Retail and eCommerce
    Independent performance shops that own a slice of retail or DTC demand — from search and social to creator-led commerce — are becoming priority targets as brands push harder on measurable revenue.

  • B2B and SaaS
    Specialist teams that consistently turn complex funnels into predictable pipeline are drawing interest, especially where AI is already embedded in scoring, routing, and outbound motion.​

  • Healthcare-adjacent marketing
    Performance and lead-gen operators serving regulated or complex categories (for example, healthcare-adjacent services) are getting attention when they can show compliant growth and clean unit economics.​

2026 Watchlist From the Deal Table

  • Selective buyers, faster decisions
    Fewer processes will start, but the right independents will move from intro to term sheet faster when the numbers are clear.​

  • AI in the middle, not on the edges
    More shops will bake AI into planning, routing, and optimization instead of keeping it in separate “innovation” teams.

  • Fewer “full-service” stories
    Specialist firms with proof in one or two lanes will keep outpacing broad but shallow offerings.

  • Platform fatigue at the top
    Large buyers will look for assets that plug into existing stacks cleanly, not ones that require yet another overhaul.​

  • Founders trading optionality, not control
    The best deals will give independents more reach and data while keeping their operating edge intact.​

2026 will not be about buying everything. It will be about backing the right independents and giving them room to run. That’s where we’re spending our time.​

Let’s keep building. . . together. 

Alan Arnstein

Chief Business Development Officer, RAD Intel