The Roll-Up Reshaping European Software: M&A Activity Report 2023 to H1 2026
Market Overview, Trends and Deal Activity
Explore how 3,055 completed software M&A deals across 36 European markets reveal a market being reshaped by serial acquirers and vertical-software roll-ups. This new research report from TH Global Capital delivers a strategic, data-driven view of where European software deal activity is concentrated, how it benchmarks against underlying enterprise demand, and where the gap between deal supply and spend growth is creating the sharpest sourcing opportunities.
Discover how consolidators are quietly driving deal volume through bolt-on acquisitions, why AI-native platforms are accelerating fastest against a backdrop of mature enterprise software still dominating deal count, and what this means for founders, boards, and investors positioning software assets across the UK, France, Germany, and Spain.
What This Report Covers
- European Software M&A Deal Volume and Value Trends, 2023–H1 2026
- Deal activity across a five-category software taxonomy
- Geographic concentration and the UK, France, Germany & Spain
- Valuation multiples by segment, where disclosed
- Serial acquirers and Roll-Up consolidation patterns
- Demand-side benchmarking against Europe software spend outlook
- Country-level profiles: United Kingdom, France, Germany, and Spain
Why Download This Report?
Stay ahead of one of the most active corners of European enterprise software as roll-up consolidators reshape the competitive landscape faster than headline mega-deals suggest. This report is designed for software founders, corporate development leaders, and private equity investors who want a clear view of where deal activity is clustering versus where underlying demand is actually growing fastest, which acquirers are setting the pace of consolidation, and how to benchmark valuation expectations against a market where AI-native and vertical-specific software are outpacing the mature enterprise core.
Source: Pitchbook, Gartner