Software M&A Update

2Q 2021

RESOURCE HIGHLIGHTS

  • M&A deal volume in the Software sector continued its upward momentum, reaching 1,150 deals in Q2 2021. Deal volume through 1H 2021 increased 70% to 2,322 completed transactions from 1,367 in the same period of the prior year.
  • Total capital invested in the Software sector in 1H 2021 increased 87% to $148.8B from $79.6B in 1H 2020.
  • Through 1H 2021, PE investors contributed 36.7% of total capital invested compared to 63.3% for strategic buyers in the Software sector.
  • The $10.2 billion public to private LBO of RealPage by Thoma Bravo on April 22, 2021 represented the largest completed transaction in the Software sector this quarter.
  • Valuation multiples and stock prices trended sideways in Q2 2021.
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