ICON has advised VaultSpeed, the automated data transformation company, on its $15.9 million (€ 15.1 million) in Series A funding. This funding round is led by Octopus Ventures, one of the largest…
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ICON has advised TravelLocal, a leading brand and online marketplace platform for tailor-made holidays, on its £8.3 million Series B funding round to accelerate international growth. ICON introduced…
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ICON serves as corporate development advisor to real time data integration startup EqualumEqualum, headquartered in Israel with offices in the UK and United States, provides real-time data…
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ICON has advised Sideways 6, an integrated crowdsourcing and idea management platform, on its acquisition by Interact Software, a leading intranet solution provider for enterprise businesses across…
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We are delighted to announce the investment into Jonckers, a leading tech-enabled language services provider (LSP) from Mayfair Equity Partners. Mayfair Equity Partners (London) has acquired a…
Read moreVenture-backed startups are better known than their bootstrapped peers for achieving wildly high growth rates and amazing M&A valuations. But those same companies are right now finding themselves…
Read moreDespite a difficult 2022 for technology stocks and continued macroeconomic uncertainty, with H1 2023 now firmly in the rear-view mirror, public markets appear eager to lift off again with the NASDAQ…
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ICON's UK IT Managed Services (ITMS) Snapshot shows that buyers have remained very active, with nearly 60 M&A deals closed in the sector so far in 2023. Highlights from the snapshot, which shows all the buyers and valuations, include: strategic buyers from adjacent sectors accounted for a chunky 61% of deals; foreign buyers account for less than one in four deals, and perhaps surprisingly, with the higher interest rates, over 50% of deals were still private equity related. We remain very active in the sector and continue to see really good buyer interest, which is great for building competitive tension. As a result, we see the better quality targets are still achieving >10x EBITDA.
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Summers are quieter in M&A. This year was no different, despite the soggy weather. The biggest headwind though (to continue the weather analogy) was the fall in US bond markets, reveals ICON's UK Tech M&A Snapshot Q3 2023. Although inflation is falling, it is still high and investors now believe rates will have to stay 'higher for longer'. As a result, rates are at 20-year highs and longer dated bond yields are over 100bp higher than 6m ago. Investors no longer expect significant rate cuts ahead, dampening the big US tech rally.
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