Although macro indicators are steadying, we aren’t out of the woods yet
In a broadly positive start to the year, tech share prices outperformed a rising market on both sides of the Atlantic in January. However, the more positive stock market sentiment has yet to lead to any change in the capital market fundraising environment – with no deals at all announced in January. Elsewhere, recent trends broadly continued. M&A volumes were robust and, whilst two thirds of the volume was in Software, there were also some notable deals to talk about in ICT Services. Venture capital remains becalmed, but no worse than the last few months, and there is still room for the odd mega-deal, while it was all about secondary buyouts in the world of private equity, with deals back to their recent trend after a very quiet December. The outlook seems to be improving with macro indicators steadying, but our base view remains that we aren’t out of the woods yet and that 2023 will be a much tougher year for the tech sector.
Mentioned in the podcast:
CTS, Acuity Knowledge Partners, Fastmarkets, Alveo Technology, Nexus Vehicle Rental, Kooth Digital Health, Healios, Ripjar, Snyk, Hack The Box, Perspectum Ltd, Cognizant, Mobica, Zest4, Automation Logic, Version 1, The Qubix Group, Alcumus, InstaDeep Ltd, NorthEdge, Equistone Partners Europe, Sovereign Capital Partners, Phoenix Equity Partners & Bessemer Venture Partners
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About Megabuyte: Megabuyte analyses the financial and corporate strategy of some 6,000 UK tech and digital businesses. Our analytical rigour, independence and deep sector expertise have made us an indispensable resource for many of the UK‘s leading CxOs, investors and advisers in support of their origination, due diligence, M&A, benchmarking, competitor analysis and corporate strategy activities.