MARCHÉS29 septembre 2026· 16 min
European Tech M&A 2026: Valuations, Multiples & Weak Signals
As European tech M&A enters a recalibration phase in 2026, deal multiples, sector rotations and early-warning signals are diverging sharply. This deep-dive decodes where capital is moving, which verticals are repricing, and how to front-run the next wave of consolidation.
SOURCES
[1]Refinitiv Eikon M&A Database — European Technology Transactions 2020–2026, Thomson Reuters/LSEG
[2]PitchBook Q1 2026 European Tech M&A Report — Deal volume, multiples, and sector analysis
[3]Mergermarket 'European M&A Trend Report 2025' — Sector multiples and deal flow data
[4]European Commission Digital Markets Act Enforcement Tracker — EUR-Lex portal, active cases Q1 2026
[5]European Patent Office (EPO) Annual Report 2025 — Technology patent filing velocity by country and sector
[6]Bundesbank 'Lending Conditions Survey for Leveraged Finance' — Q4 2025 edition
[7]Forge Global European Private Market Indices — Secondary pricing discounts/premiums, Q1 2026
[8]KPMG 'European Technology M&A Insights 2025' — Valuation benchmarks and deal structure analysis
[9]Hg Capital Portfolio Performance Report 2025 — SaaS acquisition multiples and value creation metrics
[10]EU AI Act Official Journal L Series — High-Risk AI conformity assessment requirements, 2024