The UK software as a service (SaaS) market has seen the most mergers and acquisition transactions (28.6%) across Europe in 2022, according to fresh data.
A report by GP Bullhound found that the UK, France and Germany were responsible for 58.9% of European SaaS deals for the past year.
Over a quarter (30.4%) of all European SaaS deals (1,834) in 2022 came from the UK, followed by Germany (12.7%) and France (11.9%).
“Given the macroeconomic headwinds that have significantly impacted public market SaaS valuations, there is an increasing focus on capital efficient growth for both public and private companies,” said Alexis Scorer, partner, GP Bullhound.
Out of all European countries, the UK was revealed to have raised 23.3% of the €18.1bn (£15.6bn) raised by SaaS firms....