M&A Digest Monthly | November 2024

Your monthly guide to the latest M&A news and trends in the media and technology sectors

Monthly M&A metrics

Last month over 145 deals were completed in the media and technology sectors,?a noticeable uptick of 32% compared to the same period last year. The median deal value hit ￡89m, a year-on-year increase of 156%, highlighting rising investor confidence.

Key highlights

• Number of deals: 145+
• Median deal size: ￡89m
• Total capital invested: ￡23bn
• Largest deal: ￡4bn (KKR and Dragoneer's acquisition of Instructure)

Note this is based on disclosed deal amounts only. Source: WY Partners analysis, PitchBook.

Notable deals

• KKR and Dragoneer complete acquisition of Instructure
• Growth Capital Partners invests in Coolr
• Cinven agrees to make a strategic investment in Grant Thornton UK alongside its Partners
• MSQ Partners acquires United Digital Group (UDG)
• Amazon invests $4bn in Anthropic
• Embracer Group enters into agreement to divest Easybrain to Miniclip
• Publicis acquires Picture Motion

Latest insights from our team

Our Q3 2024 M&A review is available to download now.

Q3 2024 marked the first year-on-year rise in both deal volume and average deal size since 2021, with media and tech M&A activity on the upswing.

Deal volume climbed 12% from 333 in Q3 2023 to 373 in Q3 2024, and average deal value increased from ￡26m to ￡39m.

Download our M&A update here.

Access our live M&A tracker

Our live M&A tracker offers an in-depth analysis of global M&A activity across the media and technology sectors. With just a few clicks, you can monitor deal activity, identify emerging trends, and gain competitive intelligence.

Access the M&A tracker?here.

What we're reading

• UK M&A activity sweeps market with ￡5.3bn of deals.?Read more.
• Can Europe build its first trillion-dollar start-up??Read more.
• Barbie’s StreamHouse goes digital with the help of Verizon.?Read more.
• ITV break-up bid??Ian Whittaker shares insights on potential suitors eyeing ITV, with a focus on a possible break-up.?Read more.

Deal spotlight

Our work

We advised gaming company Keywords Studios on their acquisition of US-based studio Certain Affinity, by providing financial due diligence services.

About the deal

“We are thrilled to welcome Certain Affinity to the Keywords Group,” says Keywords CEO Bertrand Bodson. “We have enormous respect for their business and reputation. They bring a wealth of knowledge, experience, and expertise to our Create division, complementing our existing skills and expanding our presence notably in the US and Canada. We look forward to partnering with Max, Paul, and their team over the coming years to continue to drive growth in our Create division and overall business.”

Client testimonial

"WY's support was of huge value to us throughout this process," says Darren Sheahan, Corporate Finance Director of Keywords Studios. "Their strong technical skills and personable style meant we were always on top of the key issues and helped us to move forward to a successful outcome for all involved. We look forward to working with them again soon."

Read more about our deals here.

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If you're thinking about selling your business, or want to chat about M&A please get in touch at [email protected].

WY Partners

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