We analysed UK software M&A transactions from Jan ’24 to Sep ’25 – here’s what we’re seeing in terms of buyer trends:
Market context
Volumes have stepped down from 2024 highs, but the market remains active – buyers are simply more selective.
Vertical software still dominates – ~48% of deals are in vertical / industry-specific platforms.
Who’s doing the buying?
Overseas acquirers modestly outnumber UK buyers, underlining sustained cross-border appetite for UK assets.
Financial sponsors and PE-backed platforms are now the single most influential buyer cohort in the market.
Strategic acquirers are heavily skewed to “mission-critical” software (vertical, ERP, financial & compliance/back-office).
Serial acquirers remain active consolidators within their chosen niches.
You can see more detail in the attached deck. If you’d like to dive deeper and discuss what this means for your company’s exit options and likely buyer universe, reach out at
info@gemfieldpartners.com
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