[TechUkraine news] CEE Software Development: M&A Report 2020 by AVentures Capital

AVentures Capital represented the annual CEE Software Development: M&A Report 2020 – comprehensive coverage of M&A activity in Software Development (IT Outsourcing) industry in CEE region.

Key findings:
?Selected CEE Top-50 – Largest IT service players with delivery in CEE: Out of 50 largest IT service companies, 5 make over US $100m in revenue and another 6 exceed the US$ 200 mark within the four countries. Strategic players based in Ukraine – over >100 m: EPAM Ukraine, Luxoft, GlobalLogic, SoftServe, DataArt, Ciklum.
?Most companies slowed down in growth in 2020 from an average 20-25% to an estimated 10-15% resuming high growth in Q4 2020
?High number of M&A /investments in CEE with 29 deals announced in 2020 beating 26 in 2019

?2018 and 2020 had the highest number of M&A / cash-out deals during the last decade
? Industry leaders expand through M&A, pursuing IPO / exit play: At least 5 well-funded CEE players with revenue from $50M up to $100M+ are expanding through M&A with the aim of IPO / exit play.
Read the full report