During the first 9 months of 2024, there were 159 deals in the ANZ Tech M&A sector, a pace that’s on par to meet or exceed the 10-year high set in 2023. Private Equity firms were the buyers in 31% of these transactions as demand from both strategic and financial acquirers remained strong.

VC funding in the ANZ region peaked in 2021 and has been drying up ever since, a trend that continued during the first 9 months of 2024. Sellers have instead been encouraged to pursue M&A strategies for growth and liquidity.

The amount of disclosed deal values through September 2024 reached $17.9B. Only 20% of deals disclosed transaction values as buyers preferred to keep their M&A strategies private.

The top acquirers in the region through September 2024 were Synechron, Banyan Software, Navis Capital Partners and Sovereign Cloud Holdings. Synechron’s targets were IT Solutions providers iGreenData and Chamonix, as well as Expose Data, a data analytics and consulting services provider. Banyan’s acquisitions were video management software provider Viostream, as well as POS software providers Worldsmart Retech and Future Net. Navis Capital Partners’ targets were automation software provider Activate Technologies and disaster recovery software provider Dbvisit. Sovereign Cloud Holdings acquisitions were IT Consulting provider Venn IT and Cybersecurity consultancy services provider PCG Cyber.