2022 Q4


In the last SektorReport TMT, the subject of the consolidation of IT service providers who are partners of large software providers and are assigned to less consolidated segments, such as Atlassian, Salesforce or ServiceNow, was analyzed. In our current SektorReport TMT 2022 Q4, we address the topic of artificial intelligence (AI), which is currently on everyone's lips in the course of ChatGPT.

Here we look at the current M&A activities in the field of AI and in particular the tech giants, which have carried out numerous transactions in this market in recent years. In addition, we look at the drivers behind it.

In our deal report, we look at the sale of dogado GmbH, which itself was still active as a buyer in the last quarter with the takeover of KAMP Netzwerkdienste GmbH (accompanied by Transfer Partners, see SektorReport TMT 2022 Q3) to Cinven/Ontario.

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The valuation trends in the TMT sector increased significantly in Q4 2022 compared to Q3 2022. Nevertheless, one can see that the trend had reduced significantly compared to Q4 2021. The Ukraine conflict is expected to have a market impact in early Q1 2022. Nevertheless, a positive trend can be seen, whereupon the EV/EBITDA in Q4 2022 is 14.40x.

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