MARCHÉS21 août 2026· 16 min

European Tech M&A 2026: Valuations, Multiples & Weak Signals

Name: InekIA
Rating: 4.8 (12 reviews)

European tech M&A is entering a bifurcated cycle: compressed multiples in B2B SaaS coexist with premium bids for AI-native assets. This analysis decodes the valuation mechanics, identifies six weak signals, and delivers a prioritized acquisition playbook for 2026.

Équipe éditoriale InekIA

LI X

SOURCES

[1]PitchBook European Tech M&A Report Q1 2026 — pitchbook.com

[2]Dealroom.co European Tech Funding & M&A Annual Review 2025

[3]European Investment Bank (EIB) InnovFin Loan Portfolio Disclosures 2018–2025 — eib.org

[4]EU Merger Regulation (EC No 139/2004) Notification Database — ec.europa.eu/competition

[5]EU AI Act Official Journal of the European Union — OJ L 2024/1689, July 2024

[6]Digital Operational Resilience Act (DORA) — Regulation (EU) 2022/2554

[7]Refinitiv Eikon M&A Database — European Technology Sector 2023–2026

[8]SAP SE Annual Report 2025 and Q3 2025 Earnings Disclosure — investor.sap.com

[9]EU Foreign Subsidies Regulation (EU) 2022/2560 — FSR Enforcement Cases 2024–2025

[10]Visma Group Annual Report 2025 — visma.com/investor-relations