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KP Tech Insights - B2B Software M&A and Corporate Finance Report

The KP Tech Insights series starts with a full-year review 2023 of the M&A and corporate finance market in the B2B software sector. We will keep you up to date on the development of the most relevant M&A deal multiples, current M&A transactions, the latest M&A trends and background information. From 2024, KP Tech plans to publish these reports every six months.

Our B2B Software M&A and Corporate Finance reports cover a wide range of topics:

  • Executive Summary: Overview of M&A activities
  • M&A activity in the sector in Germany, Austria, Switzerland, Europe and worldwide on an annual basis
  • Transaction values on a quarterly basis in Europe and the USA
  • The six most outstanding acquisitions of the half-year in the B2B software sector
  • Further significant transactions from strategists and private equity
  • Changes in M&A multiples in the B2B Software sector
  • Development of EV/Revenue & EV/EBITDA multiples by subsector in Europe
  • Global transactions in the Software-as-a-Service segment (SaaS)
  • Listed B2B software companies in Europe divided into sub-sectors
  • Development of share prices in Europe
  • Global take-private deals in the B2B software sector (stock exchange delisting)
Kp tech b2b software report 2023 e

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Q1-Q4 2023

B2B Software M&A and Corporate Finance Report 2023

Kp tech b2b software report 2023 e

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Q1-Q2 2024 available from fall 2024

Excerpts from the B2B Software M&A and Corporate Finance Report 2023

Kp tech b2b software report multiples 2023

Global M&A multiples in the B2B software sector 2023

In 2023, the median of global transactions in the B2B Software sector was a multiple of 2.2x revenue, remaining relatively constant compared to the 2022 figure of 2.3x. However, valuations are still well below the peaks seen during the COVID-19 pandemic, which reached 3.9 times turnover.

Kp tech b2b software report multiples sektor 2023

EV/Revenue & EV/EBITDA multiples in Europe by subsectors

While the multiples of some subsectors in 2023 remain the same or even continue to fall compared to 2022, some multiples have already increased again.

Kp tech b2b software report transaktions 2023

Top 6 B2B software acquisitions in Europe in 2023

The largest transaction in the B2B software sector in 2023 was Simcorp, which was acquired by Deutsche Börse in April. In 2nd place is the acquisition of Reward Gateway by Edenred. Discover in our report which other top transactions took place in 2023!

Kp tech b2b software report transaktions 2 2023

Other important B2B software M&A transactions in Europe

The transactions are divided into strategic buyers and private equity.

Kp tech b2b software report public companies 2023

Listed B2B software companies by subsectors

In our reports you will find a list of listed companies in the eight subsectors "ERP Logistics & SCM", "CRM & Marketing", "Accounting & Finance", "Human Resource Management", "Collaboration Tools", "Data, Information & Knowledge Management", "Industry Specific Software", "Automation Software Product & Services".

Kp tech b2b software report saas 2023 e

Global transactions in the Software-as-a-Service (SaaS) segment

SaaS-based businesses have also seen a decline in deal activity both in terms of volume and value. The median revenue multiple also fell from 5.8 in 2022 to 4.6 in 2023.

More reports from the KP Tech Insights series:

Can we help you?

KP Tech Corporate Finance has been a successful M&A boutique for more than 20 years, working for clients in a wide range of sectors. We respond quickly to complex mergers & acquisitions and corporate finance situations and help our clients to analyze, structure, negotiate and successfully close the best possible solutions from both a strategic and financial perspective.

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    Selected transactions by KP Tech

    Claranet Logo
    Claranet GmbH
    has acquired
    Add On Logo
    AddOn AG
    KP Tech Bildmarke
    KP Tech exclusively advised Claranet GmbH on this transaction.
    ILK Logo
    ILK Internet GmbH
    has been acquired by
    Audius Logo
    audius SE
    KP Tech Bildmarke
    KP Tech exclusively advised audius SE on this transaction.
    SP Logo
    S&P Solutions GmbH
    has been acquired by
    Elvaston Logo
    Elvaston Capital Management GmbH
    KP Tech Bildmarke
    KP Tech exclusively advised S&P Solutions GmbH on this transaction.
    Comselect Logo
    comselect GmbH
    has been acquired by
    Assist Digital Logo
    Assist Digital Spa
    KP Tech Bildmarke
    KP Tech exclusively advised comselect GmbH on this transaction.

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      About us

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      KP Tech has been providing consulting services for more than 20 years with a focus on company acquisitions, company sales, company succession, equity capital and company valuation. Our clients include small and medium-sized companies as well as international groups and private equity companies. Most of our clients come from the technology, services and consumer (including e-commerce) & healthcare sectors.

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      KP Tech is a member of the Association of German M&A Consultants (VMA), a non-profit alliance of prominent partner-led and independent M&A consulting firms (Frankfurt/Main).