Software M&A Update

2Q 2022

RESOURCE HIGHLIGHTS

  • M&A deal volume decreased 13.5% to 1,146 completed transactions in Q2 2022 from 1,325 deals in Q1 2022 and decreased slightly from 1,150 completed transactions in Q2 of the prior year.
  • Total capital invested in M&A transactions in Q2 2022 decreased 40.5% to $66B from $111B in Q1 2022, and 14.3% from $77B in Q2 of the prior year.
  • Through 1H 2022, PE investors contributed 41.2% of total capital invested, up from 33.4% in 2021, and strategic buyers accounted for 58.8%, down from 66.6% in 2021.
  • Europe was the most active region in Q2 2022 with 446 deals. Most notably in Europe was Permira’s acquisition of Mimecast though a $5.8B LBO.
  • The S&P North American Technology Software Index declined 22.1% during the quarter and underperformed the S&P 500, which declined 16.7% over the same period.

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