We live in a world where there are challenges on multiple fronts – the war in Ukraine, China and a continuing terrorist threat. Those challenges drive federal budgets and defense spending, which in turn set the tone for mergers and acquisitions.

This episode has Jean Stack, co-lead of the investment bank Baird's defense and government services practice, join WT Editor Nick Wakeman to discuss how M&A activity can explain priorities and trends across the federal market and some subtle changes she sees taking place.

Her outlook covers what to watch for in venture capital and private equity involvement, as well as the potential for more privately-held companies going public.