Companies with a SaaS business model continued to drive transaction activity, accounting for 49 completed deals. Vertical software, particularly within eHealth, eLearning and PropTech, remains a key area of investor focus – characterised by strong customer loyalty, stable revenue streams, and lower competitive intensity.
Valuation multiples for publicly listed Nordic SME tech companies remained stable during the quarter. Software companies traded at approximately 3.5x EV/Sales, while IT services and consulting SMEs traded at a median of 9.2x EV/EBITDA. Although SaaS and IT services transaction volumes slightly declined compared to previous quarters, the 12-month rolling trend shows continued stable market activity.
Vertical SaaS has further strengthened its position within the Nordic M&A market, with investors increasingly favouring specialised solutions with strong market positions. Read the full report here:
Stratema’s quarterly Nordic Tech M&A Outlook draws from our comprehensive proprietary transaction database and Nordic Tech M&A indices, reflecting our ongoing, in-depth research and deep expertise in the sector.
