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

March 2019 newsletter

European TMT M&A activity remained strong in March. Although the number of deals was lower than the previous two months, it remains above the average monthly figure for the last two years, and the aggregate deal value showed a modest increase.

 

Valuation multiples diverged with the Price/Sales ratio down from 2.0 in February to 1.6 in March while the Price/EBITDA ratio increased from 8.8 in February to 9.5 in March.

 

Listed technology companies, as represented by the UK TechMark index, gained another 1.5% in March.

February 2019 newsletter

After a surge of deals in January, European TMT M&A activity dropped back to just above the average monthly figure for the last two years of 300 deals. The aggregate deal value of $13 billion was boosted by the Sunrise/UPC deal.

 

Valuation multiples eased back with the Price/Sales ratio down from 2.3 in January to 2.0 in February and the Price/EBITDA ratio dropped from 9.4 in January to 8.8 in February.

 

Listed technology companies, as represented by the UK TechMark index, gained another 2.4% in February.

January 2019 newsletter

European TMT M&A activity in January continued to be above the average monthly figure for the last two years of 300 deals. However, with fewer mega deals, the aggregate deal value fell 27%.

 

Valuation multiples diverged during the month with the Price/Sales ratio up from 1.9 in December to 2.3 in January while the Price/EBITDA ratio eased back from 9.9 in December to 9.4 in January.

 

Listed technology companies, as represented by the UK TechMark index, had a good start to the year, gaining 1.9% in January.

December 2018 newsletter

European TMT M&A activity ended a strong final quarter with the number of deals announced in December remaining almost unchanged from November.

 

Valuation multiples increased during the month with the Price/Sales ratio up from 1.4 in November to 1.9 in December and the Price/EBITDA ratio up from 9.0 in November to 9.9 in December.

 

Continuing stock market volatility resulted in listed technology companies, as represented by the UK TechMark index, losing 5.3% in December.

Latest Quarterly Reports

1st quarter 2019:

3rd quarter 2018:

2nd quarter 2018:

2018 Annual Technology M&A Review