Full Year 2024 Finance Industry Trends

2024 KEY HIGHLIGHTS

At $6.3 billion, Advent International’s acquisition of Nuvei, the Canadian payment technology provider that offers comprehensive payment solutions around the world, was the largest transaction of 2024 in the Financial Technology & Information industry.

There were 105 financially sponsored transactions in 2024, with an aggregate value of $23.04 billion, representing 28 percent of the total volume and 57 percent of the total value, respectively.

2024 KEY TRENDS

Total transaction volume in 2024 decreased slightly by 3 percent over 2023, from 393 to 379.

Total transaction value in 2024 also decreased slightly by 2 percent over 2023, from $42 billion to $41 billion.

The median revenue multiple decreased from 4.2x in 2023 to 2.6x in 2024.

M&A MARKET OVERVIEW

Berkery Noyes tracked 1,265 Financial Technology and Information transactions between 2022 and 2024, of which 238 disclosed financial terms, and calculated the aggregate value to be $108.6 billion. Based on known transaction values, we project values of 1,027 undisclosed transactions to be $23.7 billion, totaling $132.3 billion worth of transactions tracked over the past three years.

Disclosed median enterprise value multiples for all segments combined in this report during the last 36 months were 3.3x revenue and 15.7x EBITDA.

Over the past three years, deals in the $10-$160 million range received a median enterprise value multiple of 3.2x revenue, compared to 4.4x revenue for those in the $160 million and above range.