Swiss M&A Report: market and valuation update for the TMT sector

This edition of the Swiss M&A Report is aimed at anyone interested in the M&A environment in the technology, media and telecommunications sector in Switzerland.

In addition to an overview of the general transaction environment in the Swiss TMT sector, the publication delivers comprehensive insights into the past and current valuation levels of eight sub-sectors (advertising, application software, IT services, media and entertainment, online services, publishing, systems software, and telecommunication services) covering the entire Swiss TMT market, as well as sector-specific growth rates and margins. 

Current M&A environment in the Swiss TMT sector

February 2024

The Swiss TMT M&A market experienced an extraordinary 2023, marked by a record high deal volume in the first half of the year and ending the year with the lowest deal activity in a quarter since the outbreak of the pandemic. This deal activity was driven by strong participation from financial sponsors and a persistent interest from foreign buyers, highlighting the sector's continuous international appeal. While the second half of 2023 was a mixed year for many sectors within TMT, we believe, stabilizing valuation levels, a more optimistic outlook for 2024 and the strong fundamentals of many TMT sectors will again see an increase in both strategic as well as financial investors’ interest. Against this backdrop, we expect the Swiss TMT sector to continue being one of the most active industries when it comes to M&A in Switzerland.

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Past reports 

June 2023

The stable Swiss macro-economic environment, coupled with growth opportunities and sub-market consolidation, has led to high momentum in the Swiss TMT M&A market, with a shrinking price expectation gap between sellers and buyers attracting strategics and positioning it as a top choice for investors.

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Contact us

Sascha Beer

Sascha Beer

Partner, Corporate Finance / M&A Leader, PwC Switzerland

Tel: +41 58 792 15 39

Lasse Stünitz

Lasse Stünitz

Partner, Corporate Finance / M&A, PwC Switzerland

Tel: +41 58 792 4928

Martin Münzberg

Martin Münzberg

Senior Manager, Corporate Finance, PwC Switzerland

Tel: +41 058 792 17 56