Analysis & insights
Independent commentary on M&A, asset management, and IT consulting from the Intecracy Ventures team.
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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…
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SaaS enterprise value multiples: navigating shifts from EV/Revenue to EV/EBITDA in 2026
The SaaS valuation landscape is shifting, with a projected move from revenue-based multiples to EBITDA-based metrics by 2026. This transition reflects increased market maturity and a focus on profitability, impacting…
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Where capital flows in European B2B SaaS in 2026
European B2B SaaS is experiencing a recalibration, with capital increasingly favoring profitability and sustainable growth over hyper-growth at any cost. This shift impacts valuations, deal structures, and the strategic positioning…
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Navigating earn-outs in European B2B SaaS M&A: a CFO’s guide to risk mitigation
In 2023, 42% of European B2B SaaS M&A transactions included an earn-out component, reflecting a market trend towards bridging valuation gaps and mitigating buyer risk. This guide provides CFOs with…
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Strategic partners as capital sources: Beyond traditional funds
While traditional investment funds remain a primary capital source, strategic partners offer a distinct alternative, often providing not just funding but also market access, operational synergies, and a clearer exit…
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