Software M&A Update

1Q 2020

RESOURCE HIGHLIGHTS

  • In Q1 2020, the Software industry outperformed the S&P 500 index by 0.5%
  • The first quarter of 2020 saw the fewest number of deals closed in the first three months since 2014
  • Total capital invested went up 31% from Q4 2019 but was down 36% compared to Q1 2019
  • Strategic buyers were more active than PE investors in both deal volume and total capital invested in Q1 2020
  • The acquisition of Plaid by Visa (NYS:V) in a $5.3 billion deal represented the largest transaction in Q1
  • Valuations (stated as multiples of EBITDA and revenue) for M&A transactions trended downwards in Q1

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