MARCHÉS20 mai 2026· 16 min
European Tech M&A 2026: Valuations, Multiples & Weak Signals
European tech M&A is entering a recalibration phase: multiples are compressing selectively, dry powder is historically high, and weak signals point to a wave of consolidation in B2B SaaS, climate-tech, and defense-adjacent software. This premium analysis delivers the methodology, data, and actionable playbook to position ahead of the curve.
SOURCES
[1]Dealroom European Tech Report Q3 2025 — dealroom.co/reports
[2]PitchBook European PE & VC Breakdown 2025 — pitchbook.com/news/reports
[3]Hg Capital European Software M&A Multiples Study 2024–2025 — hgcapital.com
[4]European Commission — ReArm Europe / SAFE Programme Documentation, March 2025 — commission.europa.eu
[5]KPMG European M&A Outlook 2025 — kpmg.com/xx/en/home/insights/2025/01/european-ma-outlook
[6]Bain & Company Global M&A Report 2025, European Chapter — bain.com
[7]EUR-Lex — EU AI Act (Regulation 2024/1689) Implementation Timeline — eur-lex.europa.eu
[8]Bessemer Venture Partners State of the Cloud 2025 — bvp.com/atlas/state-of-the-cloud-2025
[9]Refinitiv / LSEG European M&A Statistics 2024–2025 — lseg.com/en/data-analytics
[10]EY European Attractiveness Survey 2025 — ey.com/en_gl/attractiveness/europe