RL Hulett：2025年第一季度全球软件与科技赋能服务行业并购市场研究报告（英文版）

In Q1, the North American Technology Software Industry Index decreased by 11.1% and was outperformed by the S&P 500, which decreased by 4.4% over the same period. ▪ The median EV/Revenue multiple for reported private equity deals in the Software & Tech-Enabled Services sector increased to 4.8x in Q1 from 3.9x in 2024, and increased for strategic deals to 4.3x from 2.0x in the prior year. ▪ M&A deal volume in the sector increased 4.8% in Q1 to 1,145 deals from 1,093 in Q4 2024, and