North East: M&A Technology Sector Snapshot – Apr-23 to Jun-23

Welcome to the tenth edition of the North East: M&A Technology Sector Snapshot – a joint production from Ryecroft Glenton and Mercia Asset Management PLC.

We publish a snapshot each quarter to provide information on national themes in the UK tech sector, as well as focusing on developments closer to home, in the North East.

The snapshot provides an insight into key industry trends, current market data, news, and an overview of recent transactions. In this issue, the deal round-up covers the three months from April 2023 to June 2023.

Each quarter we shine the spotlight on a specific sub-sector within the technology industry. However, given this is the tenth edition of the Snapshot, we are taking the opportunity to survey the broader UK technology sector landscape, whilst revisiting some of the key themes highlighted in previous editions. As a quick memory jogger, we have previously shone the spotlight on the following sub sectors, Gaming, Green Tech, HealthTech, FinTech, Biotech, HRTech, EdTech, Cybersecurity, whilst also taking a closer look at Artificial Intelligence.

We will be taking a deep dive into some of the key trends that have been seen so far in 2023 and what can be expected for the remainder of the year. We are also excited to share some valuable insights and views from several prominent and experienced Non-Executive Directors in the technology sector.

The UK tech market continues to be very active with 678 deals recorded between April 2023 to June 2023, with approximately 30% relating to an acquisition or a sale, and circa 50% relating to a funding round. Business/Productivity Software is the most active tech sub-sector for M&A in Q2 23 and London continues to lead the way geographically, with 364 deals completed in the quarter.

Source – MarketIQ

View our other North East: M&A Technology Sector Snapshots here.