IT & Business Services Report 2H2025
Our latest IT & Business Services M&A report for 2H2025 reveals sustained momentum in deal activity, driven by the twin imperatives of AI adoption and cybersecurity resilience. Following a temporary slowdown in 2024, the market has rebounded, with strategic acquirers and financial investors actively targeting companies that enhance automation, data intelligence, and security capabilities. While valuation multiples have largely stabilised, robust demand for AI-enabled managed services and cybersecurity solutions continues to underpin transaction activity across all subsectors.
AI has rapidly evolved from a differentiator to an expected capability, with buyers increasingly seeking targets that combine generative AI and automation with proven profitability. At the same time, escalating cyber threats have elevated security to a board-level priority, accelerating consolidation in managed detection, zero-trust architecture, and hybrid cloud security services. These forces are not only shaping transaction rationale but also redefining competitive advantage in the sector.
The report examines key subsectors within IT & Business Services — IT Outsourced Services, Tech Services & Support, and Integration Services — and explores the growing role of ecosystem roll-ups around major platforms such as Microsoft, Salesforce, and ServiceNow.
Key topics addressed in the report include:
- Trends and analysis of M&A activity
- Transaction overview by region
- Most active acquirers and notable deals
- Valuation insights and metrics
The report looks into the sectors Integration Services, Tech Services & Support and IT Outsourced Services and includes:
- Trends and analysis of deal activity
- Deal geography
- Top acquirers
- Valuation metrics
Top Buyers
The above graph covers the period between January 2020 and Juni 2025. Throughout this M&A report, median “trailing 30-month” multiples plotted in the graphs refer to the 30-month period prior to and including the half year.
Download our latest IT & Business Services report
To read more about current M&A activity in the IT & Business Services sector, download the latest report below.