MARCHÉS15 août 2026· 16 min

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

As European tech M&A volumes recover post-rate-shock, valuation multiples are resetting across verticals. This deep-dive decodes current pricing logic, sector divergence, and the weak signals that anticipate the next acquisition wave before consensus forms.

Équipe éditoriale InekIA

LI X

SOURCES

[1]PitchBook European Tech M&A Annual Report 2024 — Deal volume, multiple, and sector data for European technology transactions

[2]Hg Capital Annual Report 2024 — Visma platform IRR, acquisition cadence, and programmatic M&A methodology disclosure

[3]European Patent Office PATSTAT Database (Q1 2025) — Patent filing velocity data for European technology companies

[4]IDC European Software Market Share Report 2024 — Process mining category share, Celonis market position data

[5]SAP AG Annual Report 2024 — Celonis integration metrics, ACV uplift data for integrated suite customers

[6]European Commission — EU AI Act Official Journal (OJ L 2024/1689), NIS2 Directive implementation tracker

[7]Mergermarket European M&A League Tables Q4 2024 — Advisory firm coverage data and deal origination patterns

[8]NATO Defence Expenditure Report 2025 — Member state 2% GDP compliance data underpinning defence tech M&A thesis