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.
SUBSCRIBE

Latest Monthly Newsletters

January 2018 newsletter

European TMT M&A activity remained steady in January with only a small drop in the number and total value of deals.

 

There were 15 deals valued at more than $100 million including 4 in excess of $1 billion which contributed to an aggregate value of $27 billion in the month.

 

Valuation multiples diverged with the Price/Sales ratio unchanged at 1.4 but the Price/EBITDA ratio was down from 9.3 in December to 8.5 in January.

 

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

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.

Latest Quarterly Reports

3rd quarter 2017:

2nd quarter 2017:

1st quarter 2017:

2017 Annual Technology M&A Review