Tech M&A deal volume in the ANZ region has been rising over the past few years. We saw 212 deals in 2024 which represents a new 10-year high. Private Equity firms were the buyers in 33% of these transactions as demand from strategic and financial buyers remained strong.

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

The amount of disclosed deal values in 2024 came in at $20.5B, with only 20% of transactions disclosing financial deal terms as buyers preferred to keep their M&A strategies private.

Looking at the top buyers’ chart, we see that HgCapital leads the list with 6 transactions in 2024 and Accel-KKR followed with 4 acquisitions. Alceon, Banyan, First Focus, and Synechron each made 3 acquisitions in 2024.