Despite continued turmoil in the public equity markets, the global software saw a total of 628 M&A deals in Q2 at a disclosed value of $130 billion, equaling the record set just two quarters earlier, according to Kroll, a provider of data, technology and insights related to risk, governance and growth.
The strength in deal activity underscores the demand from both private equity and strategic acquirers for software assets which drive digitalisation of business processes.
While the sector performed well overall, further analysis by Kroll suggests the quarter saw a shift to smaller deals. When the findings are adjusted to exclude the three largest deals, the deal volume is skewed toward smaller transactions, including platform bolt-ons and strategic tuck-ins. The quarter also saw a complete absence of SPAC transactions and a relative slowdown in June, potentially signalling a quieter summer for M&A activity.
Read more: Private Equity Wire
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