Through Q3 2026, the IT Services sector recorded 815 acquisitions, with deal values disclosed for only 7% of transactions. Cross-border deals accounted for 28% of total activity, highlighting the sector’s international reach.
Disclosed deal sizes ranged from $2.2 million to $1.1 Billion, with a median deal size of $10 million. Revenue multiples ranged from 0.5 times EV/S to 19.7 times EV/S, with a median of 1.4 times. By comparison, public peers traded at 1.2 times EV/S and 7 times EV/EBITDA.
At the subsector level, Contract Manufacturing & Design recorded the highest median exit revenue multiple at 6.4 times, followed by Software Development at 2.2 times.