2024 Q1 Technology Services M&A Market Report
The technology services M&A market in 2023 faced challenges amid economic uncertainties, leading to a 21% drop in deal volume from 2022. However, the demand for digital transformation remained strong, particularly in cloud computing, cybersecurity, and AI, driving acquisitions.
Private equity played a significant role, adding competitive pressure and driving up valuations for companies with strong AI and analytics capabilities. Cross-border deals were also prominent, consolidating regional players.
Looking ahead, a rebound is expected as buyers seek assets aligned with emerging technologies. Valuations are anticipated to stabilize for innovative companies in AI, big data analytics, and cloud consulting. Expect renewed M&A activity in 2024, with a focus on scalability and innovation.
For a detailed analysis of the 2023 technology services M&A landscape and insights into the 2024 outlook, download our comprehensive market report.
About Matt Tortora
Matt Tortora brings over seventeen years of business ownership, sales leadership, and consulting experience in the software and technology services sectors. He has founded three companies and held strategic leadership positions at growth stage B2B software companies. Most notably, Matt was the co-founder and CEO of a Chicago-based software company which he successfully grew and sold to a strategic acquirer.