Insights

Keeping you informed about technology M&A trends and activity

Every month we publish a newsletter summarising recent technology M&A deals, every quarter we produce a report about the trends that we see, and we do an annual roundup at the end of each year.
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Latest Monthly Newsletters

December 2017 newsletter

Although there were fewer European TMT M&A transactions announced in December, there were 21 deals valued at more than $100 million including 5 in excess of $1 billion which helped lift the aggregate value to $32 billion in the month.

 

Valuation multiples remain healthy with the Price/Sales ratio up from 1.3 in November to 1.4 in December but the Price/EBITDA ratio was down from 10.0 in November to 9.3.

 

Listed technology companies, as represented by the UK TechMark index, gained 3% in December.

November 2017 newsletter

European TMT M&A activity was more subdued in November with the number of deals 7% lower than the 2017 monthly average.

 

The aggregate value of deals in November was also lower at $12 billion in November from $13 billion in October. Valuation multiples remain healthy with the Price/Sales ratio unchanged from October at 1.3 although the Price/EBITDA ratio was down from 10.9 in October to 10.0.

 

Listed technology companies, as represented by the UK TechMark index, dropped 3% in November.

October 2017 newsletter

There was a 6% increase in the number of European TMT deals in October but despite the median deal size more than doubling to $21 million, the aggregate deal value fell from $20 billion in September to $13 billion as there were fewer $1 billion-plus deals.

 

Valuation multiples reversed the increases of the previous three months with a fall in the Price/Sales ratio from 1.5 in September to 1.3 and the Price/EBITDA ratio dropped from 12.8 to 10.9.

 

Listed technology companies, as represented by the UK TechMark index, gained 1% in October.

September 2017 newsletter

The recovery from the summer slow-down in European TMT deal flow was very weak in September with only a 5% increase in the number of transactions.

 

The aggregate deal value fell from $25 billion in August to $20 billion in September. However, valuation multiples continued to increase with the Price/Sales ratio at 1.5 from 1.3 in August and the Price/EBITDA ratio at 12.8 from 11.4.

 

Listed technology companies, as represented by the UK TechMark index, gained 2.1% in September.

Latest Quarterly Reports

3rd quarter 2017:

2nd quarter 2017:

1st quarter 2017:

2016 Annual Technology M&A Review