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

May 2018 newsletter

European deals led the global TMT M&A activity in May, boosted by 11 transactions valued at more than $1 billion.

 

Vodafone’s acquisition of Liberty Global’s German, Czech, Hungarian and Romanian operations for $22 billion was the top global TMT deal in May.

 

Valuation multiples continued to improve with the Price/Sales ratio up marginally at 1.7 and the Price/EBITDA ratio up from 7.4 in April to 9.6 in May.

 

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

April 2018 newsletter

April was an outstanding month in terms of the total value of deals announced involving European TMT companies.

 

The T-Mobile/Sprint and Comcast/Sky deals boosted the aggregate value to $112 billion.

 

There was an increase in valuation multiples during the month with the Price/Sales ratio up from 1.6 to 1.7 and the Price/EBITDA ratio up from 6.7 in March to 7.4 in April.

 

Listed technology companies, as represented by the UK TechMark index, gained 6% in April.

March 2018 newsletter

The number of European TMT deals increased slightly in March but remained below the longer term monthly average of 300, while the total value of deals remained steady at about $27 billion.

 

Valuation multiples diverged again with the Price/Sales ratio up from 1.4 to 1.6 but the Price/EBITDA ratio was down from 7.6 in February to 6.7 in March.

 

Listed technology companies, as represented by the UK TechMark index, experienced a 7% drop during the month before recovering to just 2% down by the end of March.

February 2018 newsletter

There was a 30% drop in the number of European TMT deals in February but the total value of deals was marginally higher.

 

There were 16 deals valued at more than $100 million, including 4 in excess of $1 billion, which contributed to an aggregate value of $29 billion in the month.

 

Valuation multiples saw the Price/Sales ratio unchanged at 1.4 but the Price/EBITDA ratio was down from 8.5 in January to 7.6 in February.

 

Listed technology companies, as represented by the UK TechMark index, fell 3% in February.

Latest Quarterly Reports

1st quarter 2018:

3rd quarter 2017:

2nd quarter 2017:

2017 Annual Technology M&A Review