While larger tech deals with high leverage rations have been put on hold since the summer of 2022, the consolidation in the lower middle market – companies with sub $5 million ebitda – has picked up in the second half of last year. We expect the IT M&A market to be robust this year, given plateauing interest rates, pent up demand and a record level of PE dry powder.

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https://middlemarketgrowth.org/strategics-sour-tech-m-a/