US markets have dominated global IPO activity in recent years, attracting European companies with greater liquidity, higher valuations, and more extensive analyst coverage. London, Frankfurt, and Paris have struggled to compete, with London raising only $208 million in the first half of 2025, according to Dealogic.
The healthcare software sector continues to see consolidation. According to Capstone Partners, deal activity in the healthcare IT sector increased for the third consecutive year in 2024, with over 260 transactions recorded globally.
In May we highlighted the “Silver Tsunami,” the wave of baby-boomer founders preparing to sell their businesses. The pipeline of opportunities is significant, but from our experience advising both entrepreneurs and investors, acquiring the business is often the easier part.
Artificial intelligence is steadily becoming a key tool for SMEs. Rather than grand, enterprise-level deployments, most SMEs find AI’s power in everyday problem solving. A University of St Andrews study from April suggests that AI adoptions could increase productivity in SMEs by anywhere from 27% to 133%.
Europe’s technology, media, and telecommunications (TMT) industry is experiencing increased market consolidation. Geopolitical tension and economic fragmentation are pushing major players to join forces, seeking scale, resilient infrastructure, and future-proof digital assets.
Vendor due diligence (VDD) is a sell-side, independent review prepared before deal launch and shared with potential buyers under NDA to provide initial assurance over the information they receive. In the UK mid-market, it can shorten timetables, widen the buyer pool, and reduce price chipping.
Defence is back as a top priority in Europe, with tech at the core. This allows investors to tap rising budgets and political backing. Those who align with Europe’s strategic goals and navigate the new rules can unlock long-term returns.
Generative AI is reshaping the enterprise software landscape, placing over 122 publicly listed mid‑market SaaS firms under intense pressure. A June 2025 AlixPartners study warns that more than 100 companies are caught in a ‘big squeeze,’ with nimble AI‑native startups replicating applications cheaply and quickly on one side, and tech giants like Microsoft, Salesforce, and Oracle deploying AI at scale on the other.
More than 16 million people in the UK watched England’s women’s team win their second consecutive European Championship title on Sunday. Women’s sport is seeing a global renaissance. Visibility is surging, revenue is growing, and investors are becoming engaged.
As M&A markets adjust to ongoing macro uncertainty, which has now been the status quo for several years, the gap between buyer and seller valuation expectations persists. Many sellers, especially in software and healthcare, still reference 2021 valuations, while buyers are taking a more conservative view due to persistent inflation, high interest rates, and constraints on leverage.