Technology sector update | Q2 2023 M&A report


28 August 2023

  • The technology sector has largely outperformed the broader market in 2Q23 driven by AI enthusiasm and better-than-expected earnings reports.
  • Greek tech companies continue to focus on small buyouts to enter new end markets and complement their existing product and service offering.
  • The improved sentiment in the global tech space has led to an increase in most technology sub-sectors multiples for 2Q23.
  • European M&A activity witnessed a slight decrease of 3% in 2Q23 q/q. Despite this minor drop in deal count, the ongoing stock market recovery is expected to gradually restore executives' dealmaking confidence, driving M&A activity during the second half of 2023.