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Jul 26, 2023

H1 2023 | M&A activity report: Market recovery driven by mega deals

We are excited to release our inaugural “Software M&A Activity Report” to complement our other periodic research reports, including the Benchmark Report, analysing public company valuations, and the B&C Rounds Report covering private growth capital financings.

We hope you find this report insightful and valuable.

Report highlights

  • Total software M&A deal value has nearly doubled since Q4-22, following the dramatic drop off in Q3-22 as activity normalises to pre-2021 levels
  • Deals under $1bn in value make up less than 13% of the total transaction values in Q2-23, having not seen any growth since the tech sell-off
  • The US leads the charge in mega deals, with all deals over $10bn in H1-23 occurring in the US

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