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

August 2018 newsletter

The usual summer slow-down in European TMT M&A activity was much more evident this year with a 36% drop in the number of deals announced during August. The aggregate deal value was correspondingly lower.

 

Valuation multiples were slightly lower with the Price/Sales ratio down from 1.7 in July to 1.6 in August and the Price/EBITDA ratio fell from 10.9 in July to 9.6 in August.

 

Listed technology companies, as represented by the UK TechMark index, fell 2.5% in August.

July 2018 newsletter

European buyers resumed a strong position amongst the top global TMT deals in July. During the month there were seven deals valued at more than $1 billion involving European TMT companies.

 

Valuation multiples remained strong with the Price/Sales ratio up from 1.6 in June to 1.7 in July and the Price/EBITDA ratio was unchanged at 10.9.

 

Listed technology companies, as represented by the UK TechMark index, gained 1.8% in July.

June 2018 newsletter

After a high value deal spree in April and May, European buyers focused more on relatively smaller deals in June, allowing US buyers to lead the global TMT M&A activity. European deal flow remains stable at about 300 per month.

 

Valuation multiples continued to impove with the Price/Sales ratio at 1.6 and the Price/EBITDA ratio up from 9.6 in May to 10.9 in June.

 

Listed technology companies, as represented by the UK TechMark index, dropped 0.5% in June.

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.

Latest Quarterly Reports

2nd quarter 2018:

1st quarter 2018:

3rd quarter 2017:

2017 Annual Technology M&A Review