After two very active months for European TMT M&A, the number of deals dropped back by just over 7% to 283 in November, according to latest date from corporate finance firm, Regent Partners. Despite fewer deals, their total value increased to $18bn in the month. Valuation multiples remained broadly stable with the Price/EBITDA at 8.8 and the Price/Sales at 1.2. Listed companies, as represented by the Techmark Index, were virtually unchanged in terms of value and Price/EBITDA.
November was a busy month for M&A activity in the UK software and IT services market, including the sale of ‘recruitment process outsourcing’ firm Alexander Mann Solutions to Graphite Capital (see here), the acquisition of Midlands-based CAD/CAM software supplier Delcam by Autodesk (see here), infrastructure services play Redcentrics’s acquisition of peer InTechnology (see here) and most recently, the acquisition of Nuneaton-based FactoryMaster by Access Group (see here).
As ever, eligible TechMarketView subscription service clients can catch up with the UK software and IT services corporate activity scene every quarter in IndustryViews Corporate Activity.