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

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.

November 2018 newsletter

European TMT M&A activity remained strong in November in terms of both the number of deals and their aggregate value.

 

Valuation multiples were again slightly lower with the Price/Sales ratio down from 1.7 in October to 1.4 in November and the Price/EBITDA ratio down from 9.4 in October to 9.0 in November.

 

It was a better month for listed technology companies, with those represented by the UK TechMark index gaining 5.9% in November.

Latest Quarterly Reports

3rd quarter 2018:

2nd quarter 2018:

1st quarter 2018:

2018 Annual Technology M&A Review