Software M&A Update

1Q 2021

RESOURCE HIGHLIGHTS

  • M&A deal volume in the Software sector saw a significant bounce back in Q1 2021 to 1,172 deals, up 30% from 902 deals in Q4 2020 and up 69% from 695 in Q1 of the prior year
  • Total capital invested increased 92% to $71.4B in Q1 2021 from $37.1B in the same period of the prior year, and 72% from $41.6B in Q4 2020
  • Strategic buyers accounted for 55.5% of deal volume in Q1 2021 vs PE investors with 44.5%
  • The acquisition of Refinitiv by London Stock Exchange Group (LON: LSE) for $14.8 billion on January 29, 2021, represented the largest completed transaction in Q1
  • M&A transaction multiples continued the upward momentum while stock prices and public comps trended lower in Q1 2021
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