MARKETS11 May 2026· 16 min
European Tech M&A 2026: Valuations, Multiples & Weak Signals
European tech M&A is entering a recalibration cycle: compressed multiples, selective PE dry powder deployment, and five under-the-radar signals pointing to where the next wave of consolidation will hit hardest. A data-driven playbook for acquirers and targets alike.
SOURCES
[1]Pitchbook European Tech M&A Report Q1 2025 — European Deal Activity and Valuation Benchmarks
[2]S&P Capital IQ Comparable Company Analysis: European Software Sector, March 2025
[3]Dealroom.co European Venture & Growth Equity Report 2024–2025
[4]ECB Financial Stability Review, November 2024 — Leveraged Finance and Private Credit Markets
[5]European Patent Office (EPO) Espacenet — Patent Application Statistics by Technology Class, Q1 2025
[6]Preqin Global Private Equity & Venture Capital Report 2025 — European Fund Dry Powder and LP Appetite
[7]European Commission — AI Act Implementation Timeline and Notified Body Capacity Assessment, January 2025