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The Tech Report – Q1 2019 Market Review

By Daniel Lee 16 Apr 2019

Overall Q1 2019 for the technology sector has been positive with both the enterprise software and technology services public markets having recovered after a volatile end to 2018 to trade close to historical peaks. The number of buyers in technology services continued to grow, with 152 different acquirors in Q1 2019.

This quarter we have broadened both our Technology Services Perspective to reflect the significant volume of transactions across the enterprise, from customer engagement to applications to infrastructure, and the Martech Barometer, to reflect the narrowing gap between sales and marketing.

 

 

We have produced our view on the previous quarter’s proceedings in a series of individual market reviews on:

 

Technology Services Perspective

CyberScope

HealthTech

 

Enterprise Stack

MarTech Barometer

 

Highlights of the sector include:

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  • Enterprise software M&A activity set a record for total announced deals for the third straight quarter, registering a new high of 538 (based on our records beginning in 2013).
  • The cybersecurity industry gathered in San Francisco for the annual RSA Conference. The conference theme this year was simply “better” – better solutions, sharper algorithms and being better at making cybersecurity a top organisational priority. Chris Lewis covers the key themes in his article ‘RSA Conference 2019: The year of “better” cybersecurity’ here.
  • Private Equity was highly active in both enterprise software and technology services.
    • In March, Results International acted as exclusive financial advisor to Livingbridge, a leading UK private equity investor, on its investment in Brainlabs, a tech-enabled data-led performance marketing agency.
    • While ‘blockbuster’ transactions were limited in enterprise software, in part due to large strategic software vendors embedding 2018 acquisitions, Hellman & Friedman ($11bn take-private of Ultimate Software) and Thoma Bravo ($4bn acquisition of Ellie Mae) represented two of the larger acquisitions, completed by the most prolific acquirer group: US Private Equity.

We hope you enjoy the document, and please do get in touch if you would like to discuss any of the themes with us. We look forward to speaking with you soon.

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Daniel Lee

Vice President

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