RL Hulett：2025年第二季度全球软件与科技赋能服务行业并购市场研究报告（英文版）（22页）.pdf

1、Software&Tech-Enabled Services M&A UpdateQ2 2025REPORT CONTRIBUTORSCONTENTS3 Global Deal Analytics7 Valuation Multiples10 Leading M&A Deals13 Industry Outlook14 About R.L.Hulett16 Selected Transactions18 Our M&A TeamFor more information on R.L Hulett or this report please visit our website at ,call

2、us at(314)721-0607,or contact a professional listed on this page.Trevor HulettManaging DRyan HartmanSenior ASoftware&Tech-Enabled Services M&A UpdateQ2 2025REPORT HIGHLIGHTS In Q2,the North American Technology Software Industry Index increased by 21.6%and outperformed a 10.2%increase in the S&P 500

3、over the same period.The median EV/Revenue multiple for reported private equity deals decreased to 3.6x through 1H 2025 from 3.9x in 2024,but increased for strategic deals to 3.1x from 2.0 x in the prior year.M&A deal volume in the sector decreased 4.8%in Q2 to 1,090 deals from 1,145 in Q1,but incre

4、ased 19.8%from 910 deals in Q2 of the prior year.As a%of total capital invested in M&A transactions,PE participation decreased through 1H 2025 to 34.1%from 44.3%in 2024.North America was the most active region in Q2 with 474 deals.Most notably in North America was Turn/River Capitals$4.4 billion acq

5、uisition of SolarWinds,a provider of IT management software focused on network performance monitoring,systems management,and cybersecurity,in April of 2025.Dax KugelmanASoftware&Tech-Enabled Services M&A Update|Q2 2025|Page 3Source:PitchBook Data428417974029Of the 1,090 deals in the Software&Tech-En

6、abled Services sector in Q2,North America was the most active with 474.A notable North American deal(in addition to the SolarWinds deal mentioned on the previous page)was Clearwater Analytics Holdings$1.5 billion acquisition of Enfusion,a SaaS provider of cloud-native investment management software,