MARCHÉS1 septembre 2026· 16 min

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

European tech M&A is entering a recalibration phase in 2026: compressed multiples, sector bifurcation, and five measurable weak signals point to where the next wave of consolidation will strike. Quantitative methodology included.

Équipe éditoriale InekIA

LI X

SOURCES

[1]Dealroom.co European Tech Report Q3 2025 — Deal volume, valuation multiples by sector

[2]PitchBook European Private Equity & Venture Report H2 2025 — EV/ARR benchmarks, fund vintage analysis

[3]ENISA Cybersecurity Market Analysis 2024 — European cybersecurity workforce data, NIS2 impact assessment

[4]GP Bullhound European Technology Report 2025 — M&A boutique deal flow, sector transaction data

[5]European Patent Office (EPO) Espacenet — Patent filing velocity analysis, NLP/AI sector trends 2022–2024

[6]IDC European Security Market Forecast 2025 — Cybersecurity market share, Thales/Imperva integration data

[7]HgCapital Annual Report 2024 — Visma portfolio performance metrics, acquisition strategy disclosure

[8]European Commission — EU AI Act enforcement timeline, CRA implementation schedule, Data Act operational dates