Online & Mobile transaction volume saw a nominal uptick on a quarterly basis, from 711 to 714. Deal value increased 12 percent, from $38.4 billion to $43 billion.
Transaction volume in the E-Marketing & Search segment decreased by 3.5 percent during the quarter. Noteworthy deals took place in the online survey and experience management platforms space, including CPP Investment Board and SilverLake’s acquisition of Qualtrics, a subsidiary of SAP, for $10.4 billion, and Symphony Technology Group’s acquisition of Momentive Global, the maker of SurveyMonkey, for $1.5 billion. Additionally, QuestionPro acquired the assets of doopoll, a multilingual, real-time engagement platform, showcasing the market’s dynamic activity.
In Q1 2023, the SaaS & Cloud segment witnessed a 6.8 percent increase in transaction volume, while the Communications segment experienced a 4.3 percent increase. Francisco Partners’ acquisition of Sumo Logic, the SaaS analytics platform enabling reliable and secure cloud-native applications, for $1.3 billion stood out in the SaaS & Cloud segment. Similarly, Semtech’s $1.2 billion acquisition of Sierra Wireless, a leading provider of IoT solutions, highlighted the Communications segment’s activity.
The number of deals in the industry’s E-Commerce segment rose 14.7 percent over Q4 2022. The most notable acquirer in the E-Commerce segment in Q1 2023 was Victoria’s Secret with the acquisition of Adore Me, a digitally-native DTC (direct-to-consumer) intimates brand, for $400 million.
Regarding the E-Content segment, transaction volume saw a 29.9 percent decline on a quarterly basis.