A dominance of technology
Tech remained the dominant driver of M&A activity in the South East, with tech-related transactions comprising 82% of total M&A activity in 2024, a sharp rise from 48% in 2023.
Application software accounted for the largest tech sub sector share (22.7%), followed by technology consulting, IT, and telecommunications support (12.96%).
Sub sector percentage share of high-growth tech-related deals in 2024
"With the seismic shift towards a new paradigm of business being powered by AI, it is not surprising to see these statistics. It’s very encouraging to see how embedded this activity is in the South East, confirming that the region is playing a key role in driving the tech sector in the UK. The opportunity and promise of this transformation is driving investment and activity, reminiscent of the focus on .coms in the mid to late 90’s. Lessons have been learned since then and turnover (or evidence that it will come) and strong teams are an essential ingredient – just being powered by AI is not enough."
Pete Kenyon, Partner
London maintained its leadership in tech M&A, with tech-related transactions comprising 85% of activity. Nationally, tech accounted for 67% of all M&A activity, underscoring the South East’s outsized contribution.
Comparison of tech-related M&A activity of high-growth companies in the South East (2023-24)
Deal spotlight
FullCircl (Application software)
FullCircl is a SaaS platform that provides data and insights to help businesses identify, acquire, verify, onboard, retain and grow their customers. FullCircl was acquired by nCino, Inc. in 2024, creating an end-to-end client lifecycle management experience.
Deal spotlight
Findel Education (Application software)
In 2024, Cripps advised Manutan International, a European leader in B2B e-commerce, on its acquisition of Findel Education, expanding its UK educational supplies presence through a complex, multi-jurisdictional transaction. Findel Education offers a range of educational resources and products for primary, secondary and early years settings.
Deal spotlight
Verto (Application software)
In 2024, ScaleUp Capital, a private equity firm that invests in B2B technology and services businesses in their scaling phase, acquired Verto. Verto is a global financial technology firm that enables businesses of all sizes to access enterprise grade cross-border payments, FX and banking solutions via an advanced platform or API.
Deal spotlight
Foodsteps (Data provision and analysis)
Foodsteps, is a London-based company which measures the environmental impact of food through its innovative software platform to support food businesses in ensuring the sustainability of their supply chain. In 2024, Cripps advised Registrar Corp, a Paine Schwartz Partners portfolio company and the US leading provider of regulatory and compliance software, on the acquisition of Foodsteps.