Nordic Tech M&A Outlook Report Q3 2024

In Q3 2024, the tech sector experienced a significant increase in transaction activity, with 103 transactions recorded, marking a rise compared to Q2 and the preceding three quarters. Publicly listed software companies traded at an average of 3.7x EV/Sales over the past three months, while public IT-consulting SMEs traded at a median of 9.5x EV/EBITDA.

TA total of 55 transactions were recorded in the SaaS sector during the third quarter, marking an increase from Q2. Additionally, IT services and IT consulting has seen a significant rise in transactions compared to the previous four quarters.

Foreign buyers, particularly from the US, were active in the Nordic SaaS M&A market, accounting for 38% of software transactions, driven by favorable exchange rates and attractive pricing in the region.