hampleton partners enterprise software m&a

1 | 12 Enterprise Software M&A Overview 1H 2019

INTRODUCTION

Whereas businesses previously faced a decision

between “enterprise software”, hosted and run by the

organisation’s servers, and “SaaS”, rented software

hosted in the cloud and accessed via the Internet,

today there is much more overlap between these two

categories. Indeed, despite the attraction of

“traditional” enterprise software – namely its

customisability and querying or reporting capabilities –

SaaS is now widely adopted by legacy systems and

start-ups alike, as it is easy to install and upgrade, and

cheaper to implement upfront. More generally, many

AI-based improvements are changing the way

individuals and companies share, use and store

information. In this five-year retrospective report on

the developments in the sector, the phrase “Enterprise

Software” will encompass all types of on- and off-

premise software, including SaaS and cloud solutions.

Companies of all sizes and nature are now able to fill

the gaps in their organisation by acquiring the IP they

are missing. Innovative software providers are

therefore proving popular with acquirers, who, over

time, have targeted products aimed at maximising the

value of existing customers through improved

.

customer experience management or sales processes;

or aimed at optimising internal and external resource

management to improve cost efficiency.

The vertical software and applications segment –

software tailored to the needs of specific industries –

has witnessed the most growth in M&A activity over

the last five years. Indeed, as areas such as healthtech

and financial services undergo radical changes and

experience rapid growth, they are compelled to adapt

their systems, software and processes simply to keep

up the pace and survive in the face of their

competition.

In the second half of 2018, large strategic and legacy

players pursued their comeback to the market:

Microsoft, Oracle, Salesforce, Adobe and SAP were all

active during the period, often making several

acquisitions in a short period of time. Clearly, the rise

of innovative, horizontally applicable software from

new players in the field is keeping strategic and legacy

players on their toes, forcing them to aim for

relevance and versatility and thereby contributing to a

healthy and stable M&A landscape.


M&A SUMMARY

In the second half of 2018, M&A activity in the

Enterprise Software sector reached its highest

transaction volume in five years: a total of 629 deals

were recorded, representing an increase of 35 per

cent since the low of 465 deals in 2H2013.

Transaction volume wasn’t the only metric to reflect a

clear upward trend, as all multiples continued to show

consistent promise. The trailing 30-month median

EV/EBITDA multiple rose to 16.7x, up from the low

13.8x of 2H2014; and the 30-month median EV/S

reached 3.6x at the close of 2018, compared to only

2.8x in 2H2013. We believe that these high

transaction volumes and valuations signal that the

Enterprise Software market is currently experiencing a

peak in M&A activity and value.

Meanwhile, disclosed transaction value for the half-

year reached a whopping $124.2 billion – the highest

.

on record for the last five years. Alongside blockbuster

deals such as IBM’s $33.4 billion acquisition of Red Hat,

or Broadcom’s $18.9 billion acquisition of CA

Technologies, the astronomical figure also included

many nine-digit and billion-dollar deals across all sub-

sectors. As such, the range of deals covered in this

report provide helpful insight into mainstream deal

activity without the bias of too many mega deals

skewing the pool of transactions.

Furthermore, in 2H2018 private equity transaction

share, though on the rise since 2013, declined sharply,

returning to a more normal 18.7 per cent in 2H2018

after a spike in PE share in 2017. In addition, over 73

per cent of companies targeted by private equity

funds were based in North America.

2.8x 2.8x 2.8x 3.1x 3.2x 3.3x 3.3x 3.3x 3.3x 3.5x 3.6x

14.9x14.5x 13.8x 14.3x 14.4x

14.5x14.4x

14.5x 15.5x16.7x 16.7x

-

100

200

300

400

500

600

700

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018

Transaction Volume Trailing 30 Month Median EV/S Trailing 30 Month Median EV/EBITDA

18.6% 18.0%19.4%

23.9%31.3%

18.7%

0.0%

10.0%

20.0%

30.0%

40.0%

0

200

400

600

800

1000

1200

1400

2013 2014 2015 2016 2017 2018

Strategic Acquisitions PE Acquisitions Percent PE


AcquirersAcquisitions

in 30 months Three most recent Enterprise Software acquisitions

21

MINDBODY ERP & CRM SaaS

7Park Data AI-enabled data management & visualisation SaaS

Wrike project management & collaboration SaaS

20

CargoIT i Skandinavien customs management software & services

IFS Global Holdings LTL & parcel processing software

LSI Sigma Software logistics SaaS

13

PEC Safety Operations contractor management SaaS & services

Apttus AI-enabled middle office management SaaS

Quorum Software Energy ERP & BPM software & services

12

Shift Media Holdings media collaboration SaaS

CEB (Challenger & Effortless Experience Solutions) professional development HR SaaS

Virgin Pulse workforce well-being & rewards SaaS

12

Talari Networks WAN traffic optimisation systems

DataFox company data SaaS

goBalto clinical trial & research SaaS

11

Thesaurus Technology real estate management software

IPM Software property management & accounting SaaS

CML Software property management software

10

July Systems business location & customer analytics SaaS

Accompani company intelligence SaaS & database

47Line Technologies Amazon Web Services cost management SaaS

9Moore Stephens Int. (Rulebook suite) pricing & underwriting & broking management SaaS

Validus-IVC insurance claims management SaaS & services

Power Advocate energy sector supply chain analytics SaaS

TOP ACQUIRERS

With 21 disclosed enterprise software acquisitions to

its name, private equity leader Vista Equity Partners

earned the title of most prolific acquirer in the sector

over the past 30 months. Thoma Bravo and Marlin

Equity Partners also featured on the list, having most

recently acquired companies specialising in ERP SaaS &

services, and collaboration SaaS, respectively.

Meanwhile, in September 2018 private equity firm

GTY inked no fewer than six deals for a total of $377

million, earning the title of joint most active acquirer in

2H2018 alongside PE giant Vista. GTY’s stated aim

with this spree is to establish its own integrated

.

software solution in the public sector market. It will be

interesting to track GTY’s progress and see whether

they sustain this acquisition rate over time.

Furthermore, despite only being acquisitive since 2017,

Australian logistics software company WiseTech

Global earned second place, making a whopping 14

acquisitions in 2018 alone and adding to its impressive

M&A run of 20 deals closed since August 2017.

WiseTech aims to expand intercontinentally,

particularly in Europe, as illustrated by its 2018

acquisitions in Sweden, Spain, the UK, France, the

Netherlands, Belgium, Ireland and Turkey.


The largest disclosed deals of 1H 2018LARGEST DISCLOSED

DEALS OF 2H2018

$33.4 billion

28 Oct

IBM acquires Red Hat Inc. at 56.8x

EV/EBITDA and 10.8x EV/S

$18.9 billion

11 Jul

Broadcom acquires CA Technologies

at 12.3x EV/EBITDA and 4.3x EV/S

$8 billion

11 Nov

SAP acquires Qualtrics International

at 21.5x EV/S

$5.7 billion

12 Nov

Veritas Capital/Evergreen Coast

Capital acquire athenahealth for

17.3x EV/EBITDA and 4.1x EV/S

$4.8 billion

20 Sep

Adobe acquires Marketo from Vista

Equity Partners

$4.4 billion

24 Dec

Siris Capital/Evergreen Coast Capital

acquire Travelport at 10.5x

EV/EBITDA and 2.5x EV/S

$2.6 billion

20 Jul

State Street acquires Charles River

Systems

$2.5 billion

02 Jul

EQT acquires SUSE at 7.9x EV/S

TOP TRENDS & LARGEST TRANSACTIONS

• Traditional software players

return to the M&A landscape

(Microsoft, Adobe, Oracle) to remain

relevant and versatile.

• Private equity firms continuing to

acquire innovative enterprise software

firms.

• Move off-premise and into the

cloud for horizontal and vertical

software.

• High transaction volume for ERP

targets, particularly HR and employee

management software.

• Strong appetite for healthcare and

financial services vertical software.

• High demand for customer- and

sales-focused SaaS to ensure

customer retention, as customer

acquisition becomes too uncertain and

expensive.

In October, IBM made the third-largest US tech

merger ever, spending $33.4 billion all-cash on open-

source software provider Red Hat. IBM is keen to

boost its position in the hybrid cloud market, targeting

enterprise customers who are still in the early stages

of their cloud migration journey. Red Hat’s version of

the open-source Linux operating system runs on

various cloud platforms, and should provide IBM with

a steady stream of revenue as more companies move

off-premise.

Meanwhile, Broadcom – the leading semiconductor

device supplier to wired, wireless, enterprise storage

.

and industrial end markets – acquired CA

Technologies, one of the leading IT management

software vendors. CA’s acquisition price represented a

premium of approximately 20 per cent over the

closing price of its stock in July 2018. CA operates

across 40 countries and currently holds more than

1,500 patents worldwide, with more than 950 patents

pending. Broadcom has focused on acquiring

established mission critical technology businesses, and

this acquisition is expected to drive Broadcom’s long-

term adjusted EBITDA margins above 55 per cent.


Headquarters of

Enterprise Software targets

Headquarters of acquirers

of European targets

SUB-SECTOR BREAKDOWN

Over half of European assets were targeted by regional buyers, with 52 per

cent of acquisitions involving a European acquirer. This is compared with 44

per cent of European targets being snapped up by North American buyers.

Across all deals, North American enterprise software targets have been the

subject of the most global acquisitions over the past 30 months, accounting for

just above two thirds of all deals. Meanwhile, European targets have

consistently accounted for around a quarter of all deals.

52%

Business Intelligence & Customer AnalyticsAutomation analysis, retail analytics, marketing business intelligence, healthcare

analytics.

Design, Testing & SimulationBIM, CAD software, ad design, print management, manufacturer modelling, testing

and simulation software.

Enterprise ApplicationsEnterprise resource planning, desktop productivity, SCM, CRM, call centre

software, Salesforce automation.

Information ManagementDocument management, data warehousing, collaboration, capture & imaging,

e-discovery, enterprise networking, storage, systems.

Infrastructure ManagementApp lifecycle management, development tools, business process management,

integration, systems management, network and server virtualisation.

Vertical ApplicationsLegal, automotive, financial, oil & gas, agriculture, insurance, education,

transportation, healthcare.

Europe

52%

North

America

44%

RoW

4%

Europe

24%North

America

69%

RoW

7%

10%

4%

26%

20%

12%

28%


Sub-sector overview

The Business Intelligence & Customer Analytics

segment has held steady since 2013. While transaction

volume peaked in 2016 and 2017, on average 2017-

2018 saw around 119 deals per year compared to

only 98 deals in 2013-2014. Meanwhile, the trailing

30-month median EV/S multiple inched down to 3.9x

from its high of 5.0x in 2015 and 2017, still lingering

just below the range of normal multiples between 4.0x

and 5.0x.

The segment also saw a record $10.5 billion in

disclosed transaction value, although this was mainly

due to SAP’s $8 billion acquisition of Qualtrics

International, a provider of customer experience

software specialising in online feedback surveys.

Know your customer

As customer acquisition becomes increasingly arduous and

expensive, acquirers are drawn to marketing and analytics

tools which can help them paint a 360-degree picture of their

customer and ensure customer retention. This half year,

buyers targeted solutions addressing customer engagement

analytics, satisfaction SaaS and customer behaviour prediction

software. Besides SAP’s acquisition of Qualtrics, Canadian

. .

consumer rewards SaaS provider Drop Technologies

acquired Canopy Labs and its customer loyalty analytics SaaS

for brands businesses in Canada in November. On the

retail side, American cosmetics giant Ulta snapped up

QM Scientific, an AI-based retail customer

management SaaS that monitors individual customer

shopping habits while relying on POS, web interaction

and IoT data. Finally, in December, Verint Systems

bought ForeSee Results, a provider of customer

experience surveys used to monitor customer

satisfaction, emotions and reaction in relation to

advertising campaigns.

Market intelligence still as relevant as ever

In October, software giant Oracle acquired DataFox

and its SaaS, which uses machine learning to discover

company data from the web for enterprises seeking

complementary information to build out their CRM

databases. Meanwhile, Indian e-commerce giant

Flipkart – now a Walmart company – bought Israeli

firm Upstream Commerce and gained its market

intelligence, pricing and product analytics SaaS aimed at

online retailers.

BUSINESS INTELLIGENCE &

CUSTOMER ANALYTICS

2.6x

4.0x 4.0x

4.5x

5.0x 5.0x 5.0x 5.0x

4.7x

4.2x

3.9x

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

-

10

20

30

40

50

60

70

80

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018

Transaction Volume Trailing 30 Month Median EV/S


DESIGN, TESTING & SIMULATION

2.9x 2.9x

2.7x 2.7x 2.7x 2.7x

3.7x

4.6x 4.6x4.9x

5.0x

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

-

5

10

15

20

25

30

35

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018

Transaction Volume Trailing 30 Month Median EV/S

Sub-sector overview

Though a comparatively small segment, in 2018 the

Design, Testing & Simulation sub-sector saw

transaction volume pick up, reaching a healthy total of

59 transactions after a noticeable dip in volume during

the three years prior. In addition, the trailing 30-month

median EV/S multiple experienced a surge as it

reached a record 5.0x in 2H2018, up from a mere

2.7x between 2014 and 2016. This suggests that

acquirers are prepared to spend more on targets

which have perfected design, testing, virtualisation,

visualisation or simulation software.

The segment also recorded a total $1.2 billion in

disclosed transaction value, largely owing to

Autodesk’s $800 million acquisition of construction

project management SaaS provider PlanGrid.

Construction, engineering and manufacturing all

target project virtualisation SaaS

Testing and simulation garnered keen interest from

acquirers in the construction, engineering and

manufacturing software fields in 2H2018. Beyond

Autodesk’s acquisition of PlanGrid in November,

Siemens snapped up COMSA Computer and

.

Software and its electrical systems design for the

automotive, aviation and transport sectors. Meanwhile,

American manufacturing software provider PTC

acquired Frustum for $70 million, gaining access to the

latter’s generative design and engineering software for

the manufacturing and OEM sectors. Also, French

engineering and construction software provider

GRAITEC acquired Arma Plus and its CAD-based

building information modelling and production

management software for the steel manufacturing and

concrete reinforcement industries.

Testing and virtualisationas a sales tool

Virtualisation and simulation can also be used as a tool to

encourage the customer to project himself and ease the sales

process: for instance, UK digital construction software

provider Elecosoft acquired Active Online GmbH, a German

software which leverages AR and VR to provide visual

simulations of home design. Meanwhile, Gerber Technology

bought Avametric, an American virtual clothes-fitting SaaS

which helps customers visualise items on personalised 3D

digital body models.


Sub-sector overview

M&A activity in the ERP segment has risen

considerably since 2016, particularly in terms of

transaction volume: whereas 2H2013 saw only around

100 deals, in 2H2018 this number grew past 170.

There has also been a gradual rise in the EV/S multiple,

with the trailing 30-month median reaching 3.8x in

2H2018, up from 2.8x in 1H2014.

Disclosed transaction value reached $16.1 billion,

almost twice the value recorded in 1H2018, yet over a

quarter of this value resulted from Adobe’s $4.8 billion

acquisition of Marketo.

Employee engagement

In 2H2018, SaaS solutions for employee recruitment,

satisfaction, engagement and retention continued to

garner keen interest from acquirers. In July, Indian

outsourced IT services firm Wipro acquired Alight

Solutions, a provider of HR & benefit management

and employee CRM SaaS for businesses located in

four major Indian cities. Meanwhile, Canadian

outsourced HR services provider Morneau Shepell

acquired Lifeworks, a provider of employee wellbeing

.

management SaaS to businesses in the US, Canada,

Australia and the UK, for $325 million. Lifeworks’

software provides features for employee incentive

programmes, counselling, health and HR

communication, while providing analytics on employee

behaviour.

Maximising the utility of the workplace

Several acquirers targeted SaaS aimed at time and

resource optimisation based on physical location. In

July Fortive Corporation bought Accruent for $2

billion. Accruent is a provider of real estate property

and facility management software for businesses,

government agencies and educational institutions,

focusing on site selection and lease management.

Moreover, two of the largest acquisitions in this sub-

sector were made by private equity firms: in

December, Vista Equity Partners completed a $1.8

billion take-private of MINDBODY, an ERP and CRM

SaaS for health and fitness facilities. Later, Thoma

Bravo bought Apttus, an AI-enabled middle office

management SaaS for management of commercial

quotes and contracts, for $1.6 billion.

ENTERPRISE RESOURCE PLANNING

3.2x2.8x 2.8x

3.0x 3.1x 3.2x 3.2x 3.2x 3.5x3.7x 3.8x

22.2x

20.0x

14.7x14.3x 14.3x

15.1x

14.5x

17.4x

18.6x19.8x

15.9x

0.0x

5.0x

10.0x

15.0x

20.0x

25.0x

-

20

40

60

80

100

120

140

160

180

200

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018



Sub-sector overview

In 2H2016 the Information Management segment saw

M&A activity recede to a three-year low, with

transaction volume reaching only 89. However, since

then volume has returned to an average of more than

100 deals every half-year.

Despite its earlier stagnation, the trailing 30-month

median EBITDA multiple began to rise again, reaching

22.6x in 2H2018 – up from only 13.6x in 2H2016.

However, EV/S has stayed steady, pointing to

worsening margins or a change of business model as

information storage moves to the cloud. Meanwhile,

total transaction value lingered around a reasonable

$13.4 billion.

Leveraging data migration, compatibility and

conversion

As companies move away from physical archiving and

storage systems, adequate SaaS data processing,

warehousing and migration has become a necessity.

For instance, Kofak, a US-based portfolio company of

.

Thoma Bravo, bought Nuance Communications for

$400 million, gaining access to its imaging software

which provides features for integrated document

processing to MFPs, printers, scanners and existing

enterprise systems. Data integration software provider

Talend bought Stitch in November, a provider of data

warehousing and integration SaaS to businesses which

provides features for ETL (extract, transform and

load), and for integrating existing software systems for

data management.

Meanwhile, NNIT, a Danish IT services consultancy,

bought Valance Partners, a provider of data migration

management software and services for pharmaceutical,

medical device and technology companies globally.

Valance’s software enables users to migrate data from

legacy systems to cloud-based platforms, and includes

features for data cleansing, migration, integration,

validation and implementation.

INFORMATION MANAGEMENT

2.4x 2.3x 2.3x 2.3x 2.6x 2.7x 2.6x2.5x 2.5x 2.3x 2.3x

14.6x

19.1x

15.1x

16.5x

14.0x13.6x

13.9x14.3x

15.2x

19.5x

22.6x

0.0x

5.0x

10.0x

15.0x

20.0x

25.0x

-

20

40

60

80

100

120

140

160

180

200

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018



Sub-sector overview

M&A activity in the Infrastructure Management

segment began to increase again in 2018 after a slight

slump throughout 2016 and 2017. In 2H2018, the

segment saw 75 transactions and a record disclosed

transaction value of $66.7 billion, though nearly 80 per

cent of this figure was due to IBM’s $33.4 billion

acquisition of Red Hat at a whopping 56.8x EBITDA;

and Broadcom’s $18.9 billion acquisition of CA

Technologies for 12.3x EBITDA.

Over the last 24 months, EBITDA multiples have

regained some stability after many marked highs and

lows in the past five years. However, it declined again

from 16.4x in 1H2018 to 15.0x in 2H2018. Revenue

multiples have demonstrated steady growth since

2013, reaching 5.1x EV/S in 2H2018, up from 4.0x in

2H2013.

Infrastructure management has encompassed targets

specialising in areas as varied as application

development and integration, electronic ticketing

software, workload management, systems

management and quality assurance.

Private equity sees opportunity in innovative

systems virtualisation SaaS

The infrastructure segment saw several deals inked by

private equity firms in 2H2018. In July, Swedish PE firm

EQT bought SUSE, an American provider of Linux

servers, operating systems and software, for $2.5

billion at 7.9x EV/S.

Meanwhile, in October Bain Capital bought Rocket

Software for $2 billion. Rocket Software provides

systems management, application lifecycle

management and business process management

software for businesses running IBM mainframes and

System i servers.

Finally, Vista Equity Partners undertook a $1.9 billion

take-private of Apptio at 8.2x sales. Apptio provides IT

spend management SaaS which gives an overview of

cost and consumption of technology investments,

including cloud and on-premise deployments. Bain

Capital: bought Rocket

INFRASTRUCTURE MANAGEMENT

4.0x

4.0x4.0x

4.2x

5.0x 4.8x 5.1x 5.0x 4.8x 4.8x 5.1x

8.4x

6.9x

8.4x

15.0x

15.6x

21.9x22.2x

16.5x 16.4x 16.4x

15.0x

0.0x

5.0x

10.0x

15.0x

20.0x

25.0x

-

10

20

30

40

50

60

70

80

90

100

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018



Sub-sector overview

Over the past five years, vertical applications have

experienced a considerable increase in transaction

volume, culminating in the 178 deals inked in 1H2018

– up from a mere 81 deals in 2H2013. Disclosed

transaction value reached a record $21.7 billion, with

this number consistently edging past $10 billion since

2015.

Despite a slump in EBITDA multiples between 2015

and 2017, these have grown again since the second

half of 2017, reaching a high 17.3x most recently. EV/S

multiples, on the other hand, have lingered between

2.4x and 3.6x since 2013 and have shown no sign of

much change.

Data in healthcare commands need for improved

SaaS

Acquirers in the healthtech segment have centred

their efforts around medical data, applying focus to

streamlining existent patient information systems.

Software for clinical decisions and measurements was

also popular. For instance, Tabula Rasa Healthcare

acquired DoseMe, a medication-dosing SaaS which

.

tailors medication to meet individual needs and

tolerances, and aims to reduce the financial and

medical consequences of incorrect medication dosage.

Meanwhile, private equity has also sought to reap the

benefits of a rapidly growing healthtech sector. In fact,

the largest disclosed deal in the field was Veritas

Capital/Evergreen Coast Capital’s $5.7 billion buyout

of athenahealth, a provider of electronic health

records management and medical bill processing SaaS

for hospitals and healthcare practices in the US.

Fast-paced financial services require adequate

software

In July 2018, State Street, the second largest custodian

bank in the world, acquired Charles River Systems, a

provider of investment data and analytics SaaS, for

$2.6 billion at roughly 5x revenue. The acquisition

highlights the need for banking and investment players

to improve their investment management, trading, and

risk management offering to respond to ever-growing

client demands for differentiated solutions and data.

VERTICAL APPLICATIONS

2.4x 2.4x 2.4x2.8x

3.2x 3.6x3.6x

2.4x 2.4x3.3x

2.4x

12.6x12.6x 13.5x

14.6x

20.4x

14.5x

13.7x 10.9x 12.3x

14.1x

17.3x

0.0x

5.0x

10.0x

15.0x

20.0x

25.0x

-

20

40

60

80

100

120

140

160

180

200

2H 2013 1H 2014 2H 2014 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 2H 2017 1H 2018 2H 2018



CONCLUSION & CONTACTS

Miro ParizekPrincipal Partner

[email protected]

Over the last five years, the Enterprise Software sector has witnessed consistent

growth in transaction volume, multiples and valuations, reaching the highest total

disclosed deal value in 2018 at a whopping $182.2 billion.

Contrary to other sectors which may be more susceptible to highs and lows,

enterprise software has seen steady M&A activity as innovative software firms are in

continuously high demand. On the one hand, verticals such as healthtech and

fintech are experiencing rapid growth and are thus compelled to update and adapt

their systems, software and processes simply to keep up the pace and survive in the

face of their competition. On the other hand, large strategic and legacy players are

pursuing a comeback to the market, acquiring innovative, horizontally applicable

software to remain relevant and versatile.

About Hampleton Partners

Hampleton Partners is at the forefront of international Mergers and Acquisitions advisory for companies with

technology at their core.

Hampleton’s experienced deal makers have built, bought and sold over 100 fast-growing tech businesses and

provide hands-on expertise and unrivalled international advice to tech entrepreneurs and the companies who are

looking to accelerate growth and maximise value.

With offices in London, Frankfurt and San Francisco, Hampleton offers a global perspective with sector expertise

in: Automotive Tech, IoT, AI, FinTech, High-Tech Industrials, Cybersecurity, VR/AR, HealthTech, Digital Marketing,

Enterprise Software, IT Services, SaaS & Cloud and E-commerce.

Going forward, enterprise software transactions will be spurred by more advances in machine learning and artificial

intelligence for SaaS and cloud-based software, as new players, large strategic acquirers and private equity firms all

remain poised to capitalise on a consistently stable sector market.

mailto:[email protected]

Hampleton provides independent M&A and corporate finance advice to owners of Autotech, Internet, IT Services, Software and High-Tech Industrial companies. Our

research reports aim to provide our clients with current analysis of the transactions, trends and valuations within our focus areas.

Data Sources: We have based our findings on data provided by industry recognised sources. Data and information for this publication was collated from the 451

Research database (www.451research.com), a division of The 451 Group. For more information on this or anything else related to our research, please email the

address provided below.

Disclaimer: This publication contains general information only and Hampleton Ltd., is not, by means of this publication, rendering professional advice or services. Before

making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. Hampleton Ltd. shall not be

responsible for any loss whatsoever sustained by any person who relies on this publication.

©2019. For more information please contact Hampleton Ltd.

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