Welcome to the latest edition of the Silverpeak Software M&A report, a biannual review of European and US deal activity within the software sector from 2019 onwards. We hope you find this report insightful and valuable.
Key findings
- The first quarter of 2024 kicked off with a strong performance, highlighted by the landmark transaction between Ansys and Synopsis in January. The absence of mega deals in Q2 resulted in a total deal value decline for the second quarter.
- The overall deal count below $1bn for the first half of 2024 stabilised below pre-COVID levels. However, a small upward trend in deal values can be noted in this group, representing a cautious recovery of smaller, add-on type deals, driven by consolidation efforts.
- The median deal value increased by 24% for the first 6 months compared to H1 2023. The ongoing “flight to quality” in the market is evident through the combination of lower deal counts and higher median deal values.
This research is complemented by our Software Benchmark Report, analysing public company valuations and Series B & C rounds in European tech companies covering private growth capital financings.