MARCHÉS29 septembre 2026· 16 min
European Tech M&A 2026: Valuations, Multiples & Hidden Signals
European tech M&A is entering a recalibration cycle with median EV/Revenue multiples compressing 34% since 2021 peaks. This deep-dive decodes valuation frameworks, sector-specific multiple tables, and the five weak signals reshaping deal flow before the mainstream notices.
SOURCES
[1]Refinitiv M&A Intelligence — European Technology Transaction Database Q1 2026
[2]Pitchbook European Venture Monitor Q4 2025 — Dry Powder & Exit Velocity Report
[3]Preqin Global Private Equity Report 2025 — European PE Allocation Trends
[4]European Innovation Council (EIC) Grant Database — Public Records 2022–2025 (eic.ec.europa.eu)
[5]European Banking Authority — DORA Implementation Progress Report Q1 2026
[6]Bpifrance Annual Report 2024 — Investment and Co-financing Activity
[7]EU Corporate Sustainability Reporting Directive (CSRD) — Official Journal of the European Union L 322
[8]EU Artificial Intelligence Act — Official Journal of the European Union, Regulation 2024/1689
[9]EU Foreign Subsidies Regulation — Enforcement Activity Report, European Commission DG COMP, 2025