Blackpeak are pleased to present a market update on the IT Services sector in ANZ which includes key trends on M&A & financings as well as valuation benchmarking data.
M&A activity in ANZ has been predominately related to bolt-on acquisitions with the ‘buy & build’ strategy continuing to be a common theme amongst the IT Services sector in ANZ (both public & private) as companies look to increase scale and add specialist capabilities through M&A.
Recent platform investments include BGH’s acquisition of NZ-based Managed Services provider Fusion5 (Dec-23) whilst Cyber & Managed Security provider AU Cloud (ASX:SOV) recently raised $30m to fund 3 acquisitions (Mar-24).
The outlook for IT Services remains strong with spending to continue to be underpinned by digital transformation and outsourced managed services along with an increased focus on Cyber Security & AI as companies look to stay on top of security and respond to customer demand around how to incorporate AI into their service offering.
The report can be accessed in the link below: