Olena Kovalenko

Navigating Post-Acquisition Integration Risk in European SaaS M&A

Post-acquisition integration failures in European SaaS M&A frequently erode enterprise value, often stemming from misaligned technical roadmaps or overlooked cultural differences. Shareholders must proactively assess these …

Sovereign Wealth Funds' Growing Appetite for European GovTech M&A in 2026

Sovereign wealth funds are increasingly targeting European GovTech assets for M&A, driven by stable revenue streams and essential public service integration. This shift presents specific implications for valuation and deal …

Valuing Embedded Finance in SaaS: A New Metric for 2026

Embedded finance is reshaping SaaS valuations, moving beyond traditional ARR multiples. This article examines the critical shifts and introduces a new valuation perspective for technology assets incorporating financial services.

M&A in tech: typical seller mistakes when preparing for a transaction

Technical due diligence routinely surfaces risks that financial reporting alone does not, often impacting the final deal price. Avoiding common preparation missteps is critical for shareholders seeking to maximize enterprise …

Defense Tech in Europe: From Grants to Private Capital

European defense tech is undergoing a significant funding shift, moving beyond traditional government grants towards attracting private capital. This transition presents both opportunities and challenges for shareholders …

The Evolving Role of Corporate Governance in Maximizing IT Asset Value

Effective corporate governance is increasingly critical for IT asset valuation, moving beyond compliance to directly influence deal outcomes and investor confidence. This analysis explores how robust governance structures enhance …

EV/Revenue, EV/EBITDA, and DCF: which valuation model fits SaaS

Private SaaS multiples have compressed materially from their 2021 peak, reshaping how earn-outs are structured and intensifying scrutiny on valuation methodologies. Understanding which model best reflects your company's value is …

The Evolving Role of Earn-Outs in European SaaS M&A: A Shareholder's Guide

Private SaaS multiples have compressed materially from their late-2021 peak, leading to a significant increase in the use of earn-out provisions in European SaaS M&A transactions. This guide examines how shareholders can …

The Evolving Role of ARR Predictability in Enterprise SaaS M&A Valuation

Private SaaS EV/ARR multiples have compressed materially from their late-2021 peak, intensifying the focus on predictable recurring revenue streams as a core driver of enterprise value in M&A transactions. This shift mandates …

Why SaaS ARR Multiples Are Diverging From EBITDA Multiples in 2026

The SaaS market is experiencing a notable divergence between ARR and EBITDA multiples, driven by shifts in capital allocation and investor focus on sustainable growth. This trend necessitates a refined approach to valuation and …

The rise of earn-outs in European SaaS M&A: implications for sellers in 2026

Earn-outs are becoming a dominant feature in European SaaS M&A, driven by market uncertainty and valuation gaps. This shift significantly impacts deal structures, risk allocation, and the ultimate capital realization for …

The rise of AI-driven earn-outs in European SaaS M&A

AI's integration into SaaS M&A is increasingly manifesting through earn-out structures, particularly in Europe, where buyers leverage future AI-driven performance to mitigate valuation risk. This trend impacts deal …

Why IT companies are worth less than their founders expect

Founders frequently overestimate the market value of their IT companies, often due to a disconnect between perceived innovation and objective valuation methodologies. This discrepancy impacts deal outcomes, risk assessment, and …

Restructuring an IT holding: when it is necessary, when it is fashionable

IT holding restructurings are increasingly common, driven by market shifts and capital demands. This analysis differentiates between value-driven necessities and trend-following initiatives, focusing on shareholder implications.

Earn-out in IT deals: how to structure to avoid post-closing conflicts