Spring is in the Air

Insights by Peter Watson.

It is reassuring to receive confirmation of our own research findings that show the market is bouncing back: Techmarketview (26/2) announced last week some new research indicating a recent uptick in Q4 Software and IT Services (SITS) transactions. Of particular note was that acquisitions by UK buyers exceeded sales of UK businesses, perhaps suggesting renewed confidence by UK SITS companies. One acquisitive UK group in the sector, Air IT, has just snapped up another IT support business (SCS Technology Solutions in Lincolnshire) – its 12th acquisition since Oct 2020.

On the ground we have certainly seen confidence return to the market – with interest rates seemingly on a downward trajectory – and we look forward to a busy spring and summer.

Due out in April is our next SITS sector M&A report comparing 2023 activity to the previous year. It will also include the results of a questionnaire we are running. If you own a Software or IT Services business, please do help us out by telling us about your business’s performance and M&A plans in this short anonymous survey. To reserve your free copy of the report please email alison@prismcorporatebroking.com.

Next, we are continuing our “Where Are They Now?” series with a look at what another former Prism client has been up to since we sold his two businesses a little while back. Ben Tagg, former CEO of EBS and NVG, has some useful reflections on life after sale – he has, after all, had 2 bites of this particular cherry! We hope you find it illuminating.

See Article: Where Are They Now? Ben Tagg