Analysis & insights
Independent commentary on M&A, asset management, and IT consulting from the Intecracy Ventures team.
-
Earn-out Structures in European B2B SaaS M&A: A 2026 Playbook
Earn-out provisions have become markedly more common in European B2B SaaS M&A, driven by the need to bridge valuation gaps between buyers and sellers. This article outlines critical considerations for…
Read article → -
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…
Read article → -
Working capital adjustments at closing: a hidden lever in IT deals
Working capital adjustments are often overlooked in IT M&A, yet they can materially impact the final transaction value and cash proceeds for shareholders. Understanding and proactively managing these adjustments is…
Read article → -
The Evolving Role of AI in SaaS Valuation: Beyond Revenue Multiples
AI's integration into SaaS is fundamentally altering how enterprise value is assessed. This analysis moves beyond traditional revenue multiples to explore the deeper impact of AI on valuation drivers, risk…
Read article → -
The evolution of earn-out structures in European B2B SaaS M&A: a 2026 perspective
Earn-out provisions have become markedly more common in European tech M&A, driven by the need to bridge valuation gaps in a compressed multiple environment. This analysis explores how these structures…
Read article → -
Earn-out structures in European SaaS M&A: anticipating post-deal value creation
Earn-out provisions have become markedly more common in European tech/SaaS M&A, driven by the need to bridge valuation gaps in a compressed market. This article dissects their structure, implications for…
Read article → -
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…
Read article → -
The evolving role of AI in SaaS valuation multiples: 2026 outlook
AI integration is fundamentally reshaping how SaaS assets are valued, moving beyond traditional revenue multiples to incorporate defensibility and efficiency gains. Shareholders and executives must understand these shifts to optimize…
Read article → -
Founder Buyout Structures in European SaaS: When They Make Sense
Private SaaS multiples have compressed materially from their late-2021 peak, reshaping deal structures and making founder buyouts a more relevant option for specific scenarios. This analysis explores the strategic utility…
Read article → -
Building a Financial Model Investors Will Believe
A credible financial model is not merely a forecast; it is a strategic narrative grounded in verifiable assumptions. This article details how shareholders can construct models that withstand investor scrutiny…
Read article →