Although the number of M&A deals involving European TMT (technology, media, telecoms) companies has remained broadly steady over the past few months, aggregate values have continued their march upwards, according to latest data from corporate finance firm Regent Partners. December saw some 250 deals completed with an aggregate value of $17bn. Valuation multiples remained stable with the rolling 3 month average price-earnings (P/E) multiple in the sector at 16x and the price/sales (P/S) multiple at 1.25x.
There was relatively little acquisition activity involving UK software and IT services companies last month, such as with Tribal’s acquisition of International Graduate Insight Group (see here), and that of Scottish co-location specialist, ScoLocate by Pulsant (see here).
Eligible TechMarketView subscription service clients will be able to see our full year round-up of the UK software and IT services corporate activity scene in the next edition of IndustryViews Corporate Activity, out soon!