Although the number of acquisitions in the European tech sector in October was broadly in line with the prior month, the dearth of megadeals dragged down the aggregate spend, according to latest data from our friends at corporate finance firm, Regent Partners.
Regent recorded news of only two transactions over $1b in October – that of Sony Ericsson by Sony, and private equity firm Permira’s acquisition of Genesys, the call centre software arm of Alcatel-Lucent. These bring the month’s aggregate M&A spend to $9.4b. However, Regent noted that deal valuation multiples improved in the month, with the rolling quarterly average remaining fairly stable.
TechMarketView Foundation Service clients can get a more granular analysis of the UK software and IT services M&A scene in our regular IndustryViews M&A review.