Insights

ICON's concise and authoritative Market Reports are all you need to gain an overview of M&A activity and detailed sector analyses

ICON’s Insights

ICON’s Insights:

2022-23 ICON AI & DataTech Atlas

2022-23 ICON AI & DataTech Atlas

01 Nov 2022

The AI & DataTech sector is proving more resilient than the overall software industry. Fundraisings are setting new records and premium M&A deals are still closing. However, challenges do remain and understanding the intricacies of this crowded and complex sector is more important now than any other time in the past decade. ICON’s AI & DataTech Atlas report supports financial & strategic investors and acquirers and the startups themselves in best understanding the DataTech sector at a macro level and where financial and corporate development opportunities exist.

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Q3 2022 ICON Cybersecurity Sector Update

Q3 2022 ICON Cybersecurity Sector Update

12 Oct 2022

The cybersecurity sector is leading the way for M&A and fundraising activity in 2022, with deal activity for Q1-Q3 up 60% compared to 2020 for M&A and +22% for fundraising. The sector is proving recession-proof and remains a vital growth area, defying current troubling macroeconomic headwinds. Enterprises recognise that they must continue investing in cyber defences to protect against an increasingly sophisticated threat landscape, regardless, and as a result of the significant geopolitical and economic uncertainty. This in turn continues to drive M&A and fundraising deal activity. ICON’s report investigates the fundamentals behind why this is the case.

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H1 2022 UK Technology M&A Snapshot

H1 2022 UK Technology M&A Snapshot

18 Jul 2022

Despite stronger headwinds - as inflation and interest rates rise - demand for deals remains strong. In 1H22 deal volumes were 6% up on 2019 (pre COVID), and only 6% lower than 2021 (which was a huge record year). Surprisingly, deal volumes in Q2 were higher than Q1; so they show little evidence of slowing down. Deal valuations remain punchy, down just 8%. With sterling weak and lots of PE cash, we remain cautiously optimistic about Tech M&A. We have had a very busy first half and have a healthy deal pipeline at ICON. So, it’s very much business as usual.

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Tech Private Equity Demystified Q1 2022

Tech Private Equity Demystified Q1 2022

16 Feb 2022

Last year’s record volume of technology M&A activity has been fuelled by a tidal wave of private equity (PE) money. Given the large amount of global PE investment capital waiting to be deployed, we predict this trend will continue and it's an opportune time to consider a PE deal. For many technology entrepreneurs, private equity remains a poorly understood concept when it comes to capital options. Our report aims to clarify understanding, bust some of the myths around private equity, and shed light on what it takes to secure a successful private equity transaction.

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2021 UK Technology M&A Snapshot

2021 UK Technology M&A Snapshot

24 Jan 2022

2021 was a huge year for UK Tech M&A. Deal activity easily beat previous records fuelled by a wave of PE backed Buy and Build activity. YoY growth was 44% over a COVID impacted 2020 but also a huge 20% increase on 2019, which was itself a record year. The year’s frenzied deal making, increased volumes and valuations to eye-watering levels. After a fast start to 2022, it is clearly a great time to be an owner of a UK Tech company looking at exit options in the Year of the Tiger.

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FrenchTech VC & M&A Activity

FrenchTech VC & M&A Activity

05 Nov 2021

The French M&A market remains buoyant - 286 transactions have been completed to date in 2021 and the median value of a deal doubled from EUR 27.4m in 2020 to EUR 60m in 2021 YTD. Of these, software companies accounted for 42% of Tech M&A in 2021. France now lies third in European tech rankings, behind the UK and Germany, boosted by government investment of USD4Bn, Brexit, and post-pandemic optimism among investors.

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Q2 2021 UK Technology M&A Snapshot

Q2 2021 UK Technology M&A Snapshot

19 Jul 2021

There was a record number of UK M&A Tech deals in H1 2021 with 500 deals announced - a jump of 47% YoY and 5% more than a very busy 2019. A tidal wave of money has driven M&A valuations to near record levels with average EBIT multiples in UK reaching a lofty 23x. Multiples at Nutmeg, BluJay, Depop and WaveOptics are much higher than that, offering tomorrows price today. It’s a great time to be a Tech shareholder. Overseas travel has been grounded but overseas and PE backed acquirers continue to be aggressive, driving the buoyant Tech M&A market.

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Q1 2021 UK Technology M&A Snapshot

Q1 2021 UK Technology M&A Snapshot

26 Apr 2021

UK Tech M&A activity has got off to a flying start in 2021 with the number of deals in Q1 up a massive 28% with 268 deals announced. Unbelievably, given lockdown 2.0, that is a quarterly record and another example of the benefits of digital transformation. Overseas buyers remain key accounting for 47% of all deals. Notable buyers include Accenture, Wipro, Cloudstrike, ATI Global, Microsoft, Naviga and Medallia. PE backed buy-and-build deals also jumped with the likes of Access, Civica, Clearcourse and OneCom all very busy. As a result, valuations continue to rise and now average over 22x EBIT. Its clearly a great time to be an owner of a tech business.

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