El Technology M&A in Spain in August 2026 totalled 18 transactions: 13 acquisitions, private equity transactions or equity investments, and five Venture capitalfunding rounds. The largest deal with a known price was Wolters Kluwer’s acquisition of Marosa for 112 million euros. The month was characterised by three trends: the acquisition of specialised vertical software, ‘buy-and-build’ strategies backed by private equity, and the international expansion of Spanish companies, such as Virtualware with the British firm Virtalis and Taptap Digital with Skyrise.
Twelve of the 18 transactions were cross-border. The analysis covers both Spanish companies acquired by foreign groups and international acquisitions and investments carried out by Spanish companies or investors.
An overview of M&A activity in the technology sector in August 2026
| Indicator | Data as at August 2026 |
|---|---|
| Identified transactions | 18 |
| Acquisitions, private equity and shareholdings | 13 |
| Venture capital funding rounds | 5 |
| Cross-border transactions | 12 |
| Domestic operations | 6 |
| Transactions with a disclosed value | 8 |
| Reported total amount | €259.09 million |
| Value of M&A, private equity and capital increases | €122.30 million |
| Venture capital funding | €136.79 million |
The aggregate figure should be interpreted with caution. It comprises acquisition prices, investment rounds and a capital increase; therefore, it does not equate to capital invested in Spanish companies, nor does it represent a uniform volume of buy-and-sell transactions. Ten of the 18 transactions did not disclose the amount involved. Furthermore, the volume is highly concentrated. The funding round for the US company HappyRobot (€130.19 million) and the acquisition of Marosa (€112 million) account for around 93.5 per cent of the total amount identified.
Wolters Kluwer acquires Marosa for 112 million euros
The most significant deal of the month was the acquisition of 100 per cent of Marosa, a technology company based in Vigo, by the Dutch group Wolters Kluwer, with an enterprise value of 112 million euros. Marosa develops SaaS solutions and specialised services in the areas of VAT compliance, international tax obligations and tax automation.
According to the buyer’s financial information, Marosa generated around 10 million euros in unaudited revenue in 2025. This puts the implied multiple at approximately 11 times revenue (EV/sales), a level typically only achieved by assets with recurring revenue and high barriers to entry.
For Wolters Kluwer, the acquisition expands its global offering of indirect tax software with regulatory technology and a portfolio of multinational clients. Marosa brings regulatory expertise that is difficult to replicate, a specialised product and international business relationships.
The deal confirms the appeal of vertical software linked to recurring and regulatory-intensive processes, one of the most sought-after profiles in the acquisition of technology companies.
Virtualware acquires Virtalis and expands its European footprint in industrial virtual reality
On 18 August, the Spanish company Virtualware announced an agreement to acquire 100 per cent of Virtalis, a British company specialising in virtual reality, immersive visualisation and complex data analysis.
The agreed price comprises a fixed sum of 5 million euros and a variable component linked to performance, a common earn-out structure when the buyer and seller have differing growth expectations. According to the forecasts provided, the resulting group is targeting a turnover of around 10 million euros and an EBITDA of 2.5 million.
The deal combines technological expertise, a presence in the United Kingdom and a broader industrial customer base. It is important to distinguish between the announcement and its implementation: The agreement was signed in August and the transaction was completed on 28 September 2026.
Private equity and buy-and-build at Taptap Digital, BSG and Grupo CTAIMA
Taptap Digital, a Spanish technology company in which bd-capitalholds a stake, acquired the British firm Skyrise, which specialises in audience design, location intelligence, omnichannel advertising and artificial intelligence. Skyrise will retain its brand and management team, thereby ensuring business continuity. According to TapTap, following the acquisition, the EMEA region accounts for around 70 per cent of its revenue.
In the business software sector, Business Software Group (BSG) acquired MTC Soft, a Granada-based company specialising in solutions for notaries. The acquisition strengthens the group’s notarial division and enables the sharing of distribution, development and sector-specific expertise. This type of software is integrated into the client’s day-to-day work and incurs high replacement costs.
Grupo CTAIMA acquired the French company Subclic, a SaaS platform for subcontractor management. The Spanish company is expanding its international presence and complementing its solutions for occupational health and safety, quality, the environment and document management.
All three transactions follow the same ‘buy-and-build’ strategy: to integrate complementary capabilities in niche markets with recurring demand in order to expand geographical coverage and create cross-selling opportunities.
DTE Partners acquires a stake in Surcontrol: private equity for naval automation and defence
DTE Partners, which appears as DTE Capital in some public documents, has acquired a majority stake in Surcontrol, a company based in El Puerto de Santa María that specialises in automation, robotics, artificial intelligence and technology for the naval and defence sectors.
The founders remain in management and as minority shareholders, which ensures that technical expertise is retained. For investors, the appeal lies in combining engineering and software with sectors that have high operational demands. For Surcontrol, the injection of capital facilitates commercial scaling and international expansion. It is an example of private equity focused on growth, not merely on financial consolidation.
Digital marketing: Air Marketing acquires Cleverep and Cosmico acquires LaCrème
The British firm Air Marketing acquired Cleverep, a Barcelona-based B2B lead generation company specialising in data, AI and email campaigns. Cleverep brings expertise in the German, Austrian and Swiss markets; AirMarketing adds telephone lead generation and the ability to operate on a larger scale.
In the creator economy Flatmates, part of the Italian group Cosmico, acquired 100 per cent of LaCrème for 0.55 million euros, according to the register analysed. The Madrid-based agency brings with it a network of over 900 creators and more than 560 clients.
Cosmico is expanding its presence in Spain, its client portfolio and its access to the influencer marketing market. The value of the deal lies not in the agency itself, but in its relationships with talent and brands, which are costly to build from scratch.
Mobility, media and gaming: acquisitions of specialist assets
Waiis acquired SharetoGo for 250,000 euros to strengthen its shared corporate mobility offering. SharetoGo provides a SaaS car-sharing platform for employees, as well as tools for tracking journeys and emissions. Its co-founder, Mario Levy, is taking charge of the corporate division.
In the media sector, the German group iGaming.com acquired the Relevo brand and relaunched the sports project with a new editorial structure. The assets acquired are the brand, the domain, the content and the potential audience, not the former publishing company.
The US-based company Primero Games acquired the gaming division of Win Systems, which is based in Sant Cugat del Vallès. The business brings with it software, gaming products and an installed base of over 3,000 terminals in Latin America and the Caribbean, thereby diversifying the buyer’s product range and regional presence.
Allianz invests in Damantia and CTV proposes a capital increase
Allianz acquired a stake in Madrid-based Damantia Technologies through a capital increase, reinforcing its commitment to data analytics, automation and AI applied to insurers and insurance brokers. This is a case of strategic corporate venturing , where the return includes access to innovation and operational improvements as well as financial returns. The partnership was announced on 17 July, although TTR records it as having taken place in August.
CTV proposed a nominal capital increase of 4.5 million euros, which was pending corporate approval at the time of the announcement. Of this figure, 3 million euros relate to the capitalisation of reserves and around 1.5 million euros to new cash contributions. The nominal amount, therefore, does not represent new external funding.
Venture capital in August 2026: AI, healthtech and fintech
El Venture capital accounted for five of the 18 transactions, but accounted for more than half of the total amount identified (€136.79 million), almost all of which came from a single international funding round.
- HappyRobot, a US-based company specialising in AI agents for business operations, raised $150 million (€130.19 million) with Spanish investors KFund and Bankintertaking part. This represents Spanish capital invested in a foreign company, not funding received by a Spanish start-up.
- AssistMe, a German healthtech company that digitises care management for older and dependent people, raised 6.5 million euros in a funding round led by CRB Health Tech alongside Vorwerk Ventures.
- Eholo, a Barcelona-based platform for managing psychology consultations, diaries and administrative tasks, brought CRB Health Tech and GCO Ventures on board as a shareholder.
- Vumi, a fintech company based in Gijón, received 100,000 euros from the Asturias Startup Fund to accelerate the roll-out of its wealth management platform.
- Volta, a British AI infrastructure start-up (data centres, computing capacity and infrastructure financing), has secured investment from the Spanish firm Azora Capital alongside Andreessen Horowitz, Altimeter and Nvidia. The value of the funding round is not specified in the analysis.
Volta and HappyRobot reflect the growing interest of Spanish investors in artificial intelligence, both in terms of software and the physical infrastructure that underpins it.
August 2026 compared with previous months
El The July 2026 report recorded 44 transactions, compared with 40 in June 2026 (21 M&A and 19 venture capital) and 36 in May 2026.
The 18 deals in August do not allow us to conclude that there has been a corresponding market decline without confirming that the scope and criteria of the sample are identical. August is, moreover, a month of low activity in the deal calendar. What does remain consistent, however, is the investment thesis: mission-critical software, recurring revenue, international acquisitions and the continuity of founding teams.
A year ago, the technology M&A activity in August 2025 was dominated by Naver’s acquisition of the remaining 70.5 per cent stake in Wallapop, at a valuation of 377 million euros. The deals in August 2026 stand out for their focus on taxation, industry, healthcare, advertising and business software.
Outlook for tech M&A in Spain
August 2026 highlights three priorities for buyers and investors in the sale and purchase of technology companies:
- Acquire specialised technology that is difficult to replace, as Marosa demonstrates in the field of taxation.
- To consolidate platforms through complementary acquisitions, such as Skyrise, MTC Soft and Subclic.
- Use cross-border operations to gain access to markets, equipment and customers, such as Virtalis or Cleverep.
For founders and executives of technology companies, these transactions focus on the quality of revenue, intellectual property, the depth of customer relationships and the continuity of the management team. These are the factors that carry the most weight in the final valuation.
Preparing in advance for the sale of technology companies using the Ready4Exit method– drawing on an up-to-date company valuation and specialist M&A advisers – facilitates negotiations and enables the synergies sought by each buyer to be highlighted. For companies in the growth phase, seeking investors and raising capital seeking investors or raising capital is the alternative to a full sale.
Questions on technology M&A in August 2026
In August 2026, 18 transactions linked to the Spanish technology ecosystem were identified: 13 acquisitions, private equity transactions or equity investments, and five venture capital funding rounds. Twelve were cross-border and six were domestic. Only eight disclosed the transaction value, totalling 259.09 million euros across sales, funding rounds and a capital increase. This figure is lower than the 44 transactions recorded in July, although any comparison requires confirmation that the scope of the sample is the same.
The largest acquisition with a known price was the purchase of 100 per cent of Marosa, a Vigo-based technology firm specialising in VAT compliance software and tax automation, by the Dutch group Wolters Kluwer. The enterprise value stood at 112 million euros. With unaudited revenue of around 10 million in 2025, the implied multiple is around 11 times sales, a level typical of vertical software with recurring revenue.
Buy-and-build strategies were highlighted. Taptap Digital, in which bd-capital holds a stake, acquired the British firm Skyrise; Business Software Group acquired MTC Soft, a specialist in software for notaries; and Grupo CTAIMA acquired the French firm Subclic. Furthermore, DTE Partners acquired a majority stake in Surcontrol, a Cádiz-based automation and robotics company serving the naval and defence sectors, with the founders remaining as minority shareholders.
The five venture capital rounds involving Spanish participation totalled 136.79 million euros, more than half of the total amount recorded for the month. Almost all of this relates to HappyRobot, a US-based AI agent company that raised 150 million dollars, with KFund and Bankinter among its investors. The remainder is divided between AssistMe (€6.5 million), Vumi (€100,000), Eholo and Volta, with the amounts for the latter two not disclosed.
Transactions in August 2026 show that buyers and investors prioritise hard-to-replace vertical technology, recurring revenue, intellectual property and the continuity of the founding team. They also value acquisitions that open up new geographical markets or complement an existing platform. For a founder, preparing the company in advance and engaging M&A advisers who specialise in the technology sector improves their negotiating position and the final valuation.