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In the Winter 2023/24 snapshot, we outline six key M&A trends in the European Technology Consulting space:
Although decision-making in the enterprise is still slow, pipelines are recovering well
Corporate acquirers are most interested in digital engineering and data capabilities
Independent ServiceNow, Oracle and Google implementation consultancies are reaching meaningful scale, capturing attention from both private equity and strategic trade
Sustainable growth and profitability have become increasingly important evaluation factors for private equity investors
For strategic acquirers, scale and geography have become important evaluation factors, driven by an increasing interest in nearshore delivery
Buyers and investors are closely following consultancies that are building an AI-first culture and becoming AI native
“There has been momentum throughout the second half of 2023 and 2024 will be a busy year in tech consultancy M&A. As the macro economy returns to a ‘new normal’ and larger acquirers see client pipelines recover from their H1 2023 lows, valuations will remain strong for high-quality differentiated businesses,” comments Simon Roberts, Managing Director, Alantra.
We also provide perspectives from two recently completed Alantra transactions: