MARCHÉS28 août 2026· 16 min
European Tech M&A 2026: Valuations, Multiples & Weak Signals
European tech M&A is entering a recalibration phase: deal volumes are recovering but multiples remain compressed. This premium deep-dive decodes the valuation frameworks, sector-specific multipliers, and early warning signals shaping transactions in 2026.
SOURCES
[1]Hampleton Partners — H2 2025 SaaS and Software M&A Report (hampleton.com)
[2]PitchBook — European Tech M&A Activity Q3 2025 Analyst Note (pitchbook.com)
[3]GP Bullhound — Sector Report: European Software Consolidation 2025 (gpbullhound.com)
[4]ENISA — NIS2 Directive Impact Assessment: Scope and Compliance Cost Estimates, 2024 (enisa.europa.eu)
[5]European Commission Directorate-General for Competition — EU Merger Register Active Cases Q4 2025 (ec.europa.eu/competition/mergers)
[6]Hg Capital — Annual Review 2024: Software Investment Strategy (hgcapital.com)
[7]Bureau van Dijk / Moody's Analytics — Orbis European Company Financials Database, 2025 (bvdinfo.com)