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Q3 Tech M&A Report: Taking a look at the deal activity, emerging trends, and valuations across 29 subsectors in the third quarter of 2026.

AI can generate a polished valuation in seconds, but incomplete public M&A data, outdated deal information, and missing buyer context can make that estimate dangerously misleading. In this special report, we'll go over why fewer than 15% of technology transactions disclose deal value, how an AI-generated valuation can anchor expectations and cost you millions, and why a competitive global M&A process can create value no spreadsheet, no algorithm and no AI can predict. Learn where AI helps in tech M&A, where it falls short, and why your company is ultimately worth what a qualified buyer is willing to pay. Key Takeaway • AI valuations rely on a small, self-selected portion of disclosed technology transactions, leaving much of the relevant market evidence unseen. • A valuation model is a starting point—not the final measure of what a qualified buyer may pay. • The best buyer may be outside a seller's obvious shortlist and may come from another geography, a private equity platform, or a company entering the market. • Relationships, deal structure, succession goals, tax considerations, and negotiation nuance cannot be captured fully by an automated model. • AI is most effective as a competitive advantage within a professional M&A process—not as a shortcut that replaces one.   Chapters 00:00 Can AI Value Your Company? 00:54 Why AI Valuation Multiples Can Mislead 01:15 Real World Example 01:39 Where the Extra Value Comes From 02:26 Finding the Right Buyers 03:27 The Risk of Valuation Anchoring 03:47 Five More Ways AI Can Fail in M&A 04:35 Use AI as an Advantage, Not a Shortcut

AI-enabled software companies are commanding premium valuations—but buyers are raising the diligence bar even faster. In this special report, we examine the three questions shaping today's AI M&A deals. Discover why durable AI businesses with proprietary data, deep workflow integration, specialized talent, and defensible intellectual property can earn higher revenue multiples—while thin wrappers around third-party models are being priced closer to ordinary SaaS. Whether you are an AI founder, board member, investor, or strategic acquirer, learn what buyers value, what risks they test, and why the current AI M&A premium may have an expiration date.   Key Takeaways • AI-enabled software can command premium valuations, but only when buyers see durable, defensible capabilities. • The AI premium is often a speed premium: acquirers pay to close capability gaps that could take years to build internally. • Evidence-based headcount conversion plans are more credible than indiscriminate cuts designed to make a company appear lean. • Buyers want to know whether AI savings improved margins or were recycled into compute and infrastructure costs. • The market window for AI exits is open, but founders and boards should not assume today's premium will last indefinitely.   Chapters   00:00 Intro 00:57 AI Software Multiples vs. Traditional SaaS 01:16 Why Strategic Buyers Are Outbidding Private Equity 02:27 Durable AI Companies vs. Thin AI Wrappers 02:53 The Risk Behind the AI Investment Boom 03:49 Question 1: Do You Own or Rent Your AI? 04:33 Question 2: What Did AI Do to Headcount? 05:11 Question 3: Where Did the Savings Go? 06:08 What Founders, Boards, and Acquirers Should Do 06:40 Why AI Does Not Replace an M&A Advisor

What does it really take to sell a technology company? In this founder panel, entrepreneurs who have successfully navigated acquisitions share firsthand lessons on M&A strategy, choosing the right buyer, preparing for due diligence, timing an exit, and navigating life after the deal. The conversation covers the unique challenges of selling AI and technology companies, running a structured M&A process, evaluating strategic fit, preparing company records and KPIs, managing negotiations, and building the right advisory team. The founders also share candid lessons about the workload and pressure of an acquisition and what they would do differently if they went through the process again. Key Takeaways Prepare early: Start improving the metrics and areas buyers will scrutinize well before you're ready to sell. Run a structured process: A broader M&A process can uncover buyers and opportunities outside your existing network. Clearly communicate differentiation: Technology and AI companies need to make their competitive advantages understandable to both business and technical buyers. Look beyond valuation: Strategic fit, culture, customers, capabilities, and the post-acquisition vision all matter. Prepare for due diligence: Organize financial, legal, operational, and company records before a transaction begins. Build an experienced advisory team: M&A, legal, and accounting advisors can help founders navigate an unfamiliar and complex process. Be ready for the workload: Selling a company can become a second full-time job while you're still responsible for running the business. Keep founders aligned: Co-founders should continually revisit their goals and priorities as negotiations evolve. Think about the exit years in advance: Strategic preparation can create more options and a stronger position when the time comes to sell. Plan for what comes next: An acquisition can lead to new roles, new resources, time away, or another startup. Chapters 00:00 Welcome & Founder Introductions 00:45 Why Founders Decide to Sell 03:58 From AI Entrepreneur to Acquisition 06:04 Selling an AI Company 07:50 Finding the Right Buyer 08:53 Choosing an M&A Advisor 11:23 Inside a 33-Day Acquisition 13:18 Why a Structured M&A Process Matters 15:06 The Hardest Parts of Selling a Company 16:44 Preparing for Due Diligence 18:27 Addressing Problems Before the Sale 19:32 Managing Co-Founder Alignment 20:36 Advice for Founders Considering an Exit 23:01 When to Talk to an M&A Advisor 23:55 The KPIs Buyers Examine 24:38 Building Your M&A Advisory Team 26:17 What Founders Would Do Differently 27:59 Preparing Years Before an Exit 28:59 Life After Selling Your Company 33:01 Starting Another Company After an Exit 33:58 Final Advice for Entrepreneurs

In this episode of the Tech M&A Podcast, we sit down with Vincent Harris, CEO and co-founder of RealEstateAPI, a property data infrastructure company whose APIs give software developers clean, structured data on more than 157 million US properties. Vince and his co-founder had been in business together for roughly a decade before this venture, through companies that grew and then plateaued or ran into regulatory limits. RealEstateAPI was the one they believed was sellable and they took it to market through Corum, closing a successful exit about ninety days before this conversation, after a deliberate pause and return along the way. Vince reflects on how a cold outreach from Corum deal maker Richard Holcomb and a series of educational events first introduced him to the firm, why the decision to sell came down to de-risking his family, and the surprises that followed — chief among them the cost of legal counsel and an unexpected F reorganization that reshaped the structure of the deal. He speaks candidly about how personal and adversarial due diligence can become, why he chose a buyer offering less cash upfront but considerably more upside, and how a five-month hiatus spent tightening advertising efficiency and operating leverage brought him back to market with a stronger story. Finally, Vince discusses life after the exit and the advice he would give founders who think it's too early to start. Takeaways Sell the story you have, not the one you're waiting for: Vince thought the business was too early at two and a half years in, but Richard Holcomb pointed out that a fast-growing, profitable company with a clear growth story is sellable right now. De-risking the family drove the decision: Nearly all of Vince and his co-founder's net worth was tied up in the business, and after a decade of ventures that grew and then plateaued, the timing felt right to take chips off the table. Legal costs are the surprise nobody budgets for: The fees came in well above every early estimate he received, including from banker friends, and he wishes he had researched firms and ranges more thoroughly upfront. Deal structure can matter more than cash at close: Vince turned down a higher upfront offer for a structure with more upside, backing his own belief in the business. Due diligence gets personal: The rigor was expected; the adversarial edge was not. Corum's counsel to not take it personally kept sensitive items from derailing the deal. A hiatus is a strategy, not a retreat: Offers in the spring came in below target, so Vince paused for five to six months, leaned into a high-return advertising engine and other operating leverage, and returned in August with more EBITDA and a better set of buyers. Let your people in: Vince calls selling a company the most intensely personal thing a founder will do, and advises leaning on a partner and a wider circle through a process that is slower and more frustrating than expected. Timestamps 00:00 – Introduction: Vincent Harris and RealEstateAPI 00:58 – What RealEstateAPI does: property data as Lego blocks for developers 01:42 – Discovering Corum through cold outreach and educational events 02:13 – Motivation for the process: de-risking the family 03:12 – Surprises: the cost of legal counsel and an F reorganization 04:52 – How personal and contentious due diligence became 06:08 – A bulge-bracket-grade process in the lower middle market 07:15 – What he wishes he'd known about legal costs 08:05 – Choosing the eventual acquirer 09:00 – Advice for CEOs selling their company 10:30 – Life after the sale 11:32 – Going on hiatus and returning to market 12:34 – What he focused on during the hiatus 13:11 – A stronger, more credible story on return 13:47 – Final thoughts: let your partner into the journey

In this episode of the Tech M&A Podcast, we sit down with Chuck Stahl, former CEO and principal owner of D4M International, a global SAP and digital manufacturing consultancy serving the automotive and industrial sectors across North America, Latin America, and Europe. After acquiring the business with a clear plan to build it over three to five years and then sell, Chuck saw that plan through to a successful exit through Corum — including a deliberate pause and return to market along the way. Chuck reflects on how a Corum webinar on valuations first introduced him to the firm, why starting the process early mattered, and the surprises that came with due diligence, negotiation, and juggling multiple parties on the buyer side. He shares candid advice for founders preparing to sell — making every decision based on building value, accepting that no business is perfect, and knowing when to pause and come back stronger. Finally, Chuck discusses life after the exit, from a more relaxed day-to-day to focusing on growing the business he built. Takeaways Plan your exit from the beginning: Chuck acquired D4M with a clear goal of building the business for three to five years and then selling, and followed that plan through to a successful exit. Education opens the door: A Corum webinar on valuations first introduced Chuck to the firm and to the idea of preparing for a sale. Start early and expect a rigorous process: Chuck was glad he began preparing well ahead of time, as due diligence involved far more data and back-and-forth than he anticipated. A company is worth what someone will pay: His biggest lesson was to put more effort into valuation discussions and research, since the market ultimately sets the price. Know when to pause: Stepping back when the timing and climate weren't right — while staying close to Corum — led to much more serious interest when he returned to market. Build value as your guiding principle: For any CEO considering a sale, Chuck advises making every decision based on building value, and being ready to shift from negotiating to getting the deal done. Life after the sale brings a lighter load: With the deal closed, Chuck is more relaxed and focused on growing revenues and profits rather than the admin burdens he carried before. Timestamps 00:00 – Introduction: Chuck Stahl and D4M International 00:47 – D4M: SAP and digital manufacturing consultancy 00:59 – Discovering Corum through a valuations webinar 01:45 – The plan: build for three to five years, then sell 02:00 – Surprises: NDAs, buyers, and a longer process 02:36 – Due diligence and outside parties on the buyer side 03:25 – The biggest lesson: valuation and what a company is worth 03:57 – Choosing the eventual acquirer 04:28 – Advice for CEOs considering a sale 04:49 – Going out to market, then taking a pause 05:35 – Returning to market with a stronger story 06:27 – Life after the sale 07:03 – Final thoughts on getting the deal done

AI can be a powerful tool in business, but it is not a substitute for expert guidance when selling a software or IT company. This video explains six key risks of relying too heavily on AI in tech M&A, including outdated valuation data, generic buyer outreach, incomplete buyer intelligence, and weak strategic positioning. Selling a technology company requires current market insight, buyer relationships, compelling storytelling, confidentiality, and professional deal strategy. Learn why AI should be used responsibly as an advantage in the M&A process — not as a shortcut for one of the most important decisions a founder will make. Takeaways • AI tools can help streamline work, but they cannot run a complete M&A process. • Outdated public data can lead to poor valuation assumptions. • Generic AI-generated outreach may fail to capture buyer attention. • AI lacks private buyer intelligence, negotiation history, and relationship context. • Strong positioning depends on understanding disruptive trends and future buyer value. • Deal structure, tax issues, estate planning, and legacy goals require human expertise. • Confidential company data should be protected carefully when using AI tools.   0:00 – AI Is Not a Shortcut for Tech M&A Why founders should be cautious about using AI to sell a software or IT company. 0:49 – Six AI Risks in the Sale Process The core cautions around AI-generated valuation, research, buyer lists, and deal support. 1:00 – Data Quality and Buyer Messaging Why current market data and human storytelling are critical to price discovery. 2:16 – Buyer Intelligence and Strategic Positioning How relationships, deal behavior, disruptive trends, and future value shape outcomes. 3:15 – Personal Planning, Security, and Expert Execution Why complex deal decisions and confidential information require professional guidance.

July Tech M&A Report: Taking a look at the deal activity, emerging trends, and valuations across 29 subsectors in July of 2026.

The tech M&A market may be entering a new golden era, driven by mega deals, AI disruption, massive tech balance sheets, and record levels of private equity capital. As technology moves faster and competition intensifies, the world's largest buyers are increasingly using acquisitions to buy growth, innovation, market position, and strategic advantage. For tech CEOs, founders, and shareholders, this creates a powerful market opportunity. With more active buyers, more acquisition currency, and a wave of founders preparing for succession or exit, today's environment may be one of the strongest windows to consider selling a technology company. Key Takeaways • Mega deals are setting the tone for the broader tech M&A market. • The largest technology companies are increasingly using acquisitions to sustain growth. • AI is accelerating competition and forcing strategic buyers to move faster.  • Tech giants now have unprecedented market value, stock currency, and cash available for acquisitions. • Large acquisitions often create chain reactions as competitors respond. • Private equity firms have trillions in capital they need to deploy. • A founder succession crisis is increasing the number of companies preparing to sell. • Cross-border M&A activity continues to expand as technology becomes more global. • For technology CEOs, founders, and shareholders, the current market may represent one of the strongest exit environments in history.   0:00 – Why Tech M&A Is Heating Up Mega deals, AI disruption, and massive tech balance sheets are setting the stage for a new acquisition cycle. 0:55 – Today's Tech Giants vs. the Dot-Com Era A look at how today's trillion-dollar companies dwarf the market leaders of 2000. 2:00 – Why Big Tech Is Buying Growth Strategic buyers are using acquisitions to gain innovation, market position, and competitive advantage. 2:47 – Mega Deals, Private Equity, and Buyer Demand Record deal activity, more acquisition capital, and thousands of active buyers are fueling the market. 3:46 – Why Founders May Have a Window to Sell A founder succession crisis, global buyer demand, and strong market conditions are creating exit opportunities.

In this episode of the Tech M&A Podcast, we sit down with Steve Wargalla, Managing Director of QSTRAT, a supply chain software company that provides quoting and sourcing solutions for manufacturing and distribution businesses. After acquiring QSTRAT in 2016 with a clear five-year exit strategy, Steve spent nearly eight years growing the company before successfully selling it through Corum. Steve reflects on how attending one of Corum's educational seminars first introduced him to the firm, why having a structured M&A process made all the difference compared to his previous company sale, and the lessons he learned from planning an exit years in advance. He also shares practical advice for founders preparing to sell, emphasizing the importance of education, surrounding yourself with experienced advisors, and recognizing that building a successful company requires a very different skill set than selling one. Finally, Steve discusses life after the exit, from embracing new personal challenges to rediscovering interests outside of business. Takeaways Plan your exit from the beginning: Steve acquired QSTRAT in 2016 with a long-term goal of selling the company, ultimately achieving that exit after nearly eight years. Education opens the door: Attending Corum's AI and M&A seminars provided valuable insight into the acquisition process long before the transaction began. Experience changes everything: Having previously sold a business, Steve saw firsthand how a structured, advisor-led process produced a far stronger outcome than navigating a sale alone. Structure builds confidence: Corum's disciplined, repeatable approach gave Steve confidence throughout the transaction and kept the process organized from start to finish. Founders shouldn't go it alone: Most software CEOs are experts at building companies—not selling them. Steve stresses the importance of learning the process and hiring experienced M&A advisors. The right team creates better outcomes: Drawing on the expertise of dozens of experienced dealmakers helped strengthen the company's positioning and presentation to buyers. Life after the sale brings new opportunities: With his consulting agreement ending, Steve looks forward to exploring new interests, spending more time on hobbies, and discovering what comes next beyond business. Timestamps 00:00 – Introduction: Steve Wargalla and QSTRAT 00:45 – QSTRAT: supply chain software for manufacturers and distributors 01:00 – Discovering Corum through AI and M&A seminars 01:28 – Planning an exit: the original five-year strategy 01:59 – Life after selling the business 02:29 – Comparing a first company sale with the Corum process 03:04 – Why Corum's structured approach stood out 03:42 – Advice for software CEOs preparing to sell 04:21 – Looking ahead after the consulting agreement 04:45 – Final thoughts on Corum's deal team and the value of experienced advisors

In this special report, we examine the most common mistakes that derail transactions—from poor preparation and unrealistic expectations to the costly mistake of engaging only a single buyer.

Mid-Year Tech M&A Report: Taking a look at the deal activity, emerging trends, and valuations across 29 subsectors in the first half of 2026.

A global succession crisis is emerging as millions of business owners approach retirement without a clear succession plan. According to recent studies, a significant percentage of family businesses and SMEs across North America, Europe, and Asia face leadership and ownership transitions within the next decade, yet many remain unprepared.   In this episode of CEO's Desk, Corum Group CEO Bruce Milne explores the growing succession challenge facing technology founders and CEOs. He discusses the risks of delaying succession planning, the realities of family succession, management buyouts, ESOPs, SPACs, and IPOs, and why mergers, acquisitions, and recapitalizations often provide the most practical path for technology companies. Whether you're actively considering a sale or simply protecting the value you've built, this video offers essential insights into succession planning, value preservation, and maintaining control of your future before circumstances force difficult decisions. Learn: Why succession planning has become a global business issue The unique risks facing technology founders and CEOs Common succession options and their limitations When to consider a merger, acquisition, or recapitalization Key questions every founder should ask before planning their next chapter   Interested in learning more? Join one of Corum's upcoming Selling Up Selling Out events and explore your options before you need them. https://www.corumgroup.com/events   Key Takeaways A global succession crisis is affecting businesses globally. Most recognize succession planning is critical but still lack an active plan. Technology companies face unique succession challenges Unexpected life events can dramatically change a founder's options and company value. Family succession is uncommon in technology businesses. IPOs and SPACs are not realistic exit options for most founders. The best exits are typically planned before they become necessary. Understanding your options gives you more control over your future   Chapters 00:00 The Global Succession Crisis Begins 00:30 Succession Challenges Around the World 01:08 Why Tech CEOs Face Greater Risk 01:44 A Real-World Wake-Up Call 02:19 Why Succession Planning Matters 02:33 Understanding Your Succession Options 02:55 Family Succession in Technology 03:10 Management Buyouts and ESOP Realities 03:41 Why SPACs and IPOs Aren't for Most Founders 03:48 Why M&A Is the Most Practical Path 04:00 When Is the Right Time to Sell? 04:18 The Hard Questions Every Founder Should Ask 05:04 Succession Planning Is About Control 05:23 The Ultimate Founder Question 05:48 The Best Time to Plan Your Exit 05:56 Next Steps: Get Educated and Prepare

In this episode of the Tech M&A Podcast, we chat with Luis Landgrave, co-founder of Algebraix, an edtech and fintech company serving private schools across Latin America, with a primary focus on Mexico. Over nearly two decades, Luis helped build Algebraix into a school management platform with an integrated fintech arm that processes tuition and payments on behalf of schools — momentum that ultimately led to a successful sale through Corum after years of inbound interest from investors and acquirers. Luis shares how a Corum seminar in Mexico City planted the seed nearly a decade before he was ready to sell, and how an early deal that fell through made the second, advisor-led process far smoother. He offers candid advice on the demands of financial due diligence, the importance of getting your reporting in order before going to market, and the emotional discipline required when deal terms shift mid-negotiation. He also reflects on the realities of post-exit life — from deferred payments and multi-year earnouts to the reduced control and renegotiation that can come with a two-year transition. Takeaways Plant the seed early: A Corum seminar in Mexico City sparked the idea nearly a decade before Luis was ready to sell — selling was always the goal, never a legacy to pass down. The turning point can be a business-model shift: Adding payment processing around 2017–2018 accelerated revenue and made the company far more attractive to buyers. A first attempt that falls through still teaches you: A 2021 approach from a Brazilian acquirer didn't close, but it made the second, Corum-run process much smoother. A competitive process improves terms: Even with just one official offer, having other interested buyers in play tightened the LOI and held due diligence to a 90-day timeline. Due diligence is the heavy lift: For founders who are engineers rather than finance experts, producing the reports that PE-background buyers demanded was the most taxing part. Get your numbers in order first: The more prepared your reporting and financials, the less pressure and rework once offers start coming in. Align with your partner and stay centered: Selling is an emotional rollercoaster as terms move on and off the table — shared objectives keep you steady. Plan for the transition: A two-year earnout means deferred payments, reduced control, and even some renegotiation — know what you're signing up for. Timestamps 00:00 – Introduction: Luis Landgrave and Algebraix 00:44 – An edtech + fintech platform for private schools in Mexico 01:01 – First learning about Corum: a seminar in Mexico City 01:58 – The long gap: staying in touch over nearly a decade 02:29 – The turning point: payment processing and faster revenue growth 03:03 – A 2021 approach from a Brazilian acquirer — and why it didn't close 03:29 – Round two with Corum: a smoother, time-bound 90-day process 04:33 – The hardest part: due diligence and producing reports 05:26 – Buyer-side negotiation: in-house experience and the Corum advisor 06:03 – Inside the buyer: a startup with a search-fund track record 06:41 – Choosing the acquirer: business-model fit, cross-selling, and timing 08:03 – Advice for LatAm founders: partner alignment and preparation 09:32 – Bringing in local M&A and tax counsel in Mexico City 09:58 – Post-exit life: earnouts, reduced control, and what comes next

Tariffs, rate concerns, geopolitical uncertainty — the headlines make it easy to wonder whether now is the right time to sell your software company. Corum Group CEO [Name] breaks down the actual data behind tech M&A valuations over the last decade, and the picture is more compelling than most CEOs realize.   With the Dow at 50,000, stable multiples across all six tech sectors, and over $6 trillion in capital available for tech acquisitions, the fundamentals have never been stronger. If you're asking yourself whether to wait — this video is for you.   Subscribe for weekly Tech M&A insights from Corum Group. Join a Corum Tech M&A Educational Event: https://www.corumgroup.com/events Learn more: https://www.corumgroup.com/   Key takeaways: The Dow crossing 50,000 reflects a decade of compounding resilience — not a bubble — and strong capital markets fuel M&A activity. Tech M&A valuations have been remarkably stable over the last 10 years when you strip out the anomalous 2020–2021 pandemic spike. A normalized, mature market is a functional one — it's a better environment for getting deals done than a frothy one. The buyer pool has expanded significantly — Corum is actively tracking over 19,000 potential acquirers across six tech sectors. There is over $6 trillion in available capital waiting to be deployed into tech acquisitions and investment. The demand side of the tech M&A market isn't weakening — it's deepening. For CEOs weighing whether to wait, the data suggests the opportunity right now is as strong as it has ever been.   Chapter: 0:00 Introduction — cutting through the noise 0:24 The Dow at 50,000 — what it means for M&A 0:55 Should you wait to sell? 10 years of valuation data 1:41 Why a normalized market is actually good for deals 2:00 The expanding buyer pool — 19,000+ active acquirers 2:33 $6 trillion in dry powder waiting to be deployed 2:42 The bottom line — why now is the moment to act