◆ Deal Insights · sector read
TMT
Growth cycleDeals and venture money rising together: integration, scale-up and operating-model work forms over the next two quarters. Public bodies are buying more advice here too.
M&A deals
+27%›
138 in the last 3 months vs 109
Venture capital
+48%›
€20.9bn in the last 2 quarters
Public mandates
×30›
3,962 in 6 months
Capital pressure
34%›
1,675 of 4,914 venture-backed overdue
01The month's strongest deals
Where the TMT mandates are forming.
The highest-conviction TMT deals in the 30 days to 4 September, each with the advisory angle. Click a deal for the mandate and the buyer.
TMT · United KingdomTrigger 9/10
Gamma CommunicationsBought by Epiris · $1bn
TMT · United KingdomTrigger 9/10
Pinewood Technologies GroupBought by Ridgeview Partners · $735m
TMT · GermanyTrigger 9/10
🔒Bought by 🔒
🔒 The mandate angle is for members
TMT · United KingdomTrigger 9/10
🔒Bought by 🔒
🔒 The mandate angle is for members
TMT · SwedenTrigger 8/10
🔒Bought by 🔒
🔒 The mandate angle is for members
Every TMT deal in six months
02Who sells next
The likely sellers, and who needs them sold.
Venture-backed TMT companies ranked by StrategyAI's acquisition odds, the ones past their normal time to raise, and the funds in their harvest years.
◆ StrategyAI prediction · likely to be acquired next
61 TMT companies have at least twice the typical odds of being bought within two years.
1
Relex Solutions
Software · Finland · In its raise window · €705m raised
Exit-readyCapital pressureSerial buyers due
×3.7
2
🔒
Marketing · Greece · Overdue to raise
Exit-readyOverdue to raiseCapital pressure
×3.5
3
🔒
Media · Germany · Overdue to raise
Exit-readyOverdue to raiseInvestor selling
×3.5
4
🔒
Software · UK · In its raise window
Exit-readySerial buyers due
×3.3
5
🔒
Software · UK · Overdue to raise
Exit-readyOverdue to raiseCapital pressureSerial buyers due
×3.0
6
🔒
Gaming · Türkiye · In its raise window
Exit-ready
×2.9
7
🔒
Space · Germany · In its raise window
Exit-readyInvestor selling
×2.8
8
🔒
Software · France · In its raise window
Exit-readySerial buyers due
×2.7
9
🔒
Software · Spain · Overdue to raise
Exit-readyOverdue to raiseFund harvestingSerial buyers due
×2.7
10
🔒
Telecom · Germany · Overdue to raise
Exit-readyOverdue to raiseCapital pressureFund harvesting
×2.6
×N is the odds of an acquisition within 24 months against a typical venture-backed company (3.0%). The model is backtested on European exits; an indication, not advice.
Overdue for an exit
1,675 TMT companies are past their normal time to raise; 842 are backed by a fund in its harvest years.
Morressier
Exit-ready 100Media · Germany · 32 months since Series B · €35m raised
blueground
Exit-ready 100Marketing · Greece · 30 months since Series D+ · €179m raised
🔒
Exit-ready 100Telecom · Germany · 36 months since Growth/Late
🔒
Exit-ready 100Software · UK · 45 months since Growth/Late
🔒
Exit-ready 100Software · Germany · 31 months since Series C
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Exit-ready 100Software · Spain · 47 months since Series B
🔒
Exit-ready 99Software · UK · 34 months since Series B
🔒
Exit-ready 99Software · UK · 29 months since Series C
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Exit-ready 99Telecom · Sweden · 30 months since Series A
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Exit-ready 99Hardware · Poland · 30 months since Series C
The fund clock · funds that have to sell
139 venture funds (€13.3bn) are in their harvest or extension years: 129 managers who need exits, and the sale processes that come with them.
Manager · fundSizeClosedAgeStage
Rocket Internet Capital Partners IGermany · Software, E-Commerce, Fintech, Marketplaces, Travel€930m201610.7 yrsExtension
Allianz X CVCGermany · Fintech, Health, Mobility, Data, Cybersecurity€570m20197.6 yrsHarvest
🔒Switzerland · Software, Internet––8.3 yrsHarvest
🔒UK · Deep-Tech, Industry-4.0, IoT, Robotics, Fintech, Medtech––9.4 yrsHarvest
🔒Germany · Fintech, Health, Mobility, Data, Cybersecurity––10.8 yrsExtension
🔒France · Enterprise-Software, Fintech, Insurtech, Deep-Tech, AI, Big-Data, VR, IoT, Cybersecurity, Health-Tech––8.5 yrsHarvest
🔒Germany · Internet, Mobile, Software, Health, Finance, Digital-Media––8.7 yrsHarvest
🔒Sweden · Fintech, E-Commerce, Media, SaaS, Mobile––10.1 yrsExtension
🔒Israel · Big-Data, IoT, Cloud, Enterprise-Software, Fintech, Marketplaces––7.0 yrsHarvest
🔒France · Industry-4.0, IoT, Cybersecurity, 5G-Networks, AI, Big-Data, Cloud-Computing, Software-Design––9.3 yrsHarvest
Harvest: years six to ten, when a fund sells its companies to return capital. Extension: past ten years and overdue to wind up. Source: EuroVC fund closes.
03Leadership moves
Who just changed the team at the top.
Leadership moves · last 30 days
54 TMT companies changed leadership this month; 2 of them were acquired in the past year. A new CEO or CFO after a deal is the first sign of a new plan.
🔒Leadership change · TMT · Netherlands · 11 SeptAcquired in the last year
🔒Leadership change · TMT · United Kingdom · 11 SeptAcquired in the last year
🔒Senior hire · TMT · United Kingdom · 25 Sept
🔒Leadership change · TMT · Sweden · 24 Sept
🔒Leadership change · TMT · Europe · 16 Sept
🔒Leadership change · TMT · India · 16 Sept
🔒Leadership change · TMT · Finland · 16 Sept
🔒Leadership change · TMT · United Kingdom · 16 Sept
🔒Leadership change · TMT · United Kingdom · 15 Sept
🔒Leadership change · TMT · France · 15 Sept
04Other sectors
Read another sector.
Every TMT name, every morning.
Members see the companies behind every number, the people they already know there, and live signals scored against eleven mandate patterns.
M&A: EMEA transactions, momentum compares the latest three months with the three before. Venture capital: tech.eu Funding Explorer (CC BY 4.0) and EuroVC. Predictions are StrategyAI model outputs: indicative, not advice.