Business Process Outsourcing M&A Update

2Q 2020

RESOURCE HIGHLIGHTS

  • The first half of 2020 saw the fewest number of deals closed in the first six months since 2003
  • Total capital invested from disclosed deals in Q2 2020 was down 81% from Q2 2019 and 98% from Q1 2020
  • PE investors were more active than strategic buyers in both deal volume and capital invested in Q2 2020
  • The corporate funding of Tongxingbao from Fapiaoer and Tencent Cloud on June 28, 2020 represented the largest transaction in Q2
  • Valuations (stated as multiples of EBITDA and revenue) for M&A transactions trended downwards in Q2
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