{"id":69166,"date":"2026-02-13T14:10:40","date_gmt":"2026-02-13T13:10:40","guid":{"rendered":"https:\/\/techma.bakertilly.es\/?p=69166"},"modified":"2026-02-16T14:21:12","modified_gmt":"2026-02-16T13:21:12","slug":"situation-of-tech-ma-in-spain-analysis-january-2026","status":"publish","type":"post","link":"https:\/\/techma.bakertilly.es\/en\/situacion-del-ma-tecnologico-en-espana-analisis-enero-2026\/","title":{"rendered":"The state of technology M&amp;A in Spain | Analysis January 2026\u00a0"},"content":{"rendered":"<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consolidacion_industrial_y_private_equity_activo_impulsan_el_arranque_de_2026_en_el_mercado_de_M_A_tecnologico_en_Espana\"><\/span>Industrial consolidation and active private equity drive the start of 2026 in the technology M&amp;A market in Spain<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>January 2026 confirmed the main trends observed during the last quarter of 2025, consolidating a pattern of growing sophistication in the <strong>technology M&amp;A market in Spain<\/strong>The period has been marked by an intense <strong>private equity<\/strong> activity in profitable SaaS platforms, the continuation of <em>Buy-and-build<\/em> investment in <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/enterprise-software\/\">vertical software<\/a> and <em>fleet management<\/em>, and more selective <strong>venture capital<\/strong> focused on companies with proven traction and international ambition.<\/p>\n\n\n\n<p>The volume and diversity of transactions closed during the month position Spain as one of the most active technology ecosystems in southern Europe. From strategic <em>mid-market<\/em> deals to significant growth rounds in <strong>healthtech<\/strong>, <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/digital-services\/\">cybersecurity<\/a> and B2B software, January sets several structural conclusions for the year: continued industrial consolidation, greater sophistication of private equity in assets with <em>cash-flow<\/em>visibility, and sustained international interest in Spanish <em>targets<\/em> from France, Italy, the United States and Finland.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Private_Equity_construccion_de_plataformas_y_consolidacion_sectorial\"><\/span><strong>Private equity: platform building and sector consolidation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The role of <strong>private equity<\/strong> in January, not only through traditional funds, but also through platforms backed by institutional capital executing vertical and horizontal integration strategies. The month saw a concentration of significant transactions in <strong>fleet management<\/strong>, <strong>enterprise software<\/strong>, <strong>B2B productivity<\/strong> and <strong>hospitality tech<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Movilia_acelera_su_plataforma_de_gestion_de_flotas_con_Movertis_y_Localizador_Sherlog\"><\/span><strong>Movilia accelerates its fleet management platform with Movertis and Sherlog Locator<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Movilia Fleet Management Solutions<\/strong>, backed by Seaya Andr\u00f3meda Sustainable Tech Fund I, has completed the acquisition of <strong>Movertis<\/strong> and <strong>Localizador Sherlog<\/strong> in a move aimed at creating a leading platform for telematics solutions and fleet management software.<\/p>\n\n\n\n<p><strong>Strategic rationale:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The operations enable <strong>vertical integration<\/strong> by combining hardware, software, and services into a single ecosystem.<\/li>\n\n\n\n<li>The objective is to increase the installed base and SaaS recurrence through commercial and technological synergies.<\/li>\n\n\n\n<li>The strategy improves positioning with major accounts and logistics operators.<\/li>\n<\/ul>\n\n\n\n<p>This move replicates European models of vertical software consolidation, where private equity builds sector leaders through <strong>successive acquisitions<\/strong>, taking advantage of the fragmentation of the Spanish market in telematics solutions and fleet management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TeamSystem_expande_su_plataforma_con_la_adquisicion_de_AIG\"><\/span><strong>TeamSystem expands its platform with the acquisition of AIG<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of <strong>AIG<\/strong> by <strong>TeamSystem<\/strong>, an Italian group controlled by <strong>Hellman &amp; Friedman<\/strong>, strengthens the international expansion of Italian business software in the Iberian market.<\/p>\n\n\n\n<p><strong>Strategic key points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Geographical expansion in a market with high SME penetration.<\/li>\n\n\n\n<li>Integration into a consolidated SaaS ecosystem with <em>cross-selling<\/em> capabilities based on existing customers.<\/li>\n\n\n\n<li>Leveraging technological and commercial synergies.<\/li>\n<\/ul>\n\n\n\n<p>This movement is in line with the trend observed during 2025: <strong>Major European software platforms<\/strong> are acquiring Spanish companies to accelerate their penetration in Iberia, taking advantage of the cultural proximity and dynamism of the technological business fabric.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Alerce_refuerza_su_tesis_de_inversion_en_software_B2B_con_Plus_42\"><\/span><strong>Alerce strengthens its investment thesis in B2B software with Plus 42<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of <strong>Plus 42<\/strong> by <strong>Alerce<\/strong>, backed by <strong>Oakley Capital<\/strong>confirms the investment thesis in productivity and B2B <em>workflow<\/em> software, prioritising recurring SaaS models with <strong>high gross margins<\/strong> and <strong>high customer retention<\/strong>.<\/p>\n\n\n\n<p>The transaction indicates that the Spanish technology <em>mid-market<\/em> is fully integrated into the pan-European radar of <em>growth funds<\/em> and <em>buyout transactions<\/em>, especially in segments where companies demonstrate commercial traction, proven recurrence and international expansion capacity.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Actyus_apuesta_por_Hotelverse_en_hospitality_tech\"><\/span><strong>Actyus commits to Hotelverse in hospitality tech<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The case of <strong>Hotelverse<\/strong>, a technology platform for the hospitality sector <em>hospitality<\/em>, reflects the growing interest in solutions that digitise traditional verticals with low technology penetration.<\/p>\n\n\n\n<p><strong>Probable rationale:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>International scalability in a sector with structural demand.<\/li>\n\n\n\n<li>Possible combination with other <em>travel-tech<\/em> assets in the portfolio.<\/li>\n\n\n\n<li>Operational professionalisation and accelerated growth through capital and sector <em>expertise<\/em> .<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Servicios_IT_y_consultoria_consolidacion_transfronteriza_y_refuerzo_de_capacidades\"><\/span><strong>IT services and consultancy: cross-border consolidation and capacity building<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>One of the most evident patterns of the month is the continued consolidation in <strong>IT consulting<\/strong> and software development, with French acquirers playing a leading role and domestic integration movements.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Devoteam_refuerza_su_presencia_en_Espana_con_Deiser\"><\/span><strong>Devoteam strengthens its presence in Spain with Deiser<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of <strong>Deiser<\/strong> by the French group <strong>Devoteam<\/strong> strengthens the buyer's presence in <em>cloud<\/em> services and digital transformation in the Spanish market.<\/p>\n\n\n\n<p><strong>Strategic goals:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increased local technical capacity in <em>cloud<\/em> ecosystems and Atlassian tools.<\/li>\n\n\n\n<li>Attracting specialised talent in a market with growing demand for advanced technical profiles.<\/li>\n\n\n\n<li>Strengthening relationships with corporate clients and expanding managed services.<\/li>\n<\/ul>\n\n\n\n<p>Spain continues to be a priority market for European integrators seeking to combine geographical proximity, technical talent and a corporate customer base with growing digital transformation needs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Audensiel_consolida_su_posicion_con_la_adquisicion_de_Kairos_DS\"><\/span><strong>Audensiel consolidates its position with the acquisition of Kair\u00f3s DS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Another significant cross-border transaction was the acquisition of <strong>Kair\u00f3s DS<\/strong> by France's <strong>Audensiel<\/strong>, consolidating its presence in the Spanish market through the purchase of a specialised technology boutique.<\/p>\n\n\n\n<p>The transaction confirms three structural trends:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sustained foreign interest in Spanish technology assets.<\/li>\n\n\n\n<li>Spain as a source of qualified technical talent at competitive costs.<\/li>\n\n\n\n<li>Significant fragmentation still exists in IT services, creating opportunities for consolidation.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PKF_Attest_integra_Hero_Forge_y_Czentric_Solutions\"><\/span><strong>PKF Attest integrates Hero Forge and Czentric Solutions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the domestic sphere, <strong>PKF Attest<\/strong> has carried out a consolidation move that strengthens its technological offering through the integration of <strong>Hero Forge<\/strong> and <strong>Czentric Solutions<\/strong>.<\/p>\n\n\n\n<p>This type of operation represents a different strategy: <strong>integration of digital capabilities<\/strong> within a multidisciplinary firm, enabling it to offer integrated consulting, technology and auditing services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Infraestructura_digital_operacion_de_alto_valor_en_telecom\"><\/span><strong>Digital infrastructure: high-value operation in telecoms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although the <em>target<\/em> of the operation is French, the movement in telecommunications infrastructure reflects the dynamism of the sector in markets linked to the Iberian Peninsula and the attractiveness of resilient infrastructure assets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"VIFSP6_Trinity_adquiere_Towerlink_France_por_391_millones_de_euros\"><\/span><strong>VIFSP6 Trinity acquires Towerlink France for \u20ac391 million<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of <strong>Towerlink France<\/strong> for approximately <strong>\u20ac391 million<\/strong> indicates the high level of interest among funds specialising in digital infrastructure in defensive assets in the face of macroeconomic volatility.<\/p>\n\n\n\n<p><strong>Why it is relevant:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Telecom infrastructure assets offer <strong>stable and predictable cash flows.<\/strong>.<\/li>\n\n\n\n<li>The volume of the transaction highlights the appeal of critical infrastructure in the context of growing demand for connectivity.<\/li>\n\n\n\n<li>Reflects the investment profile of infrastructure funds that prioritise assets with long-term contracts and revenue visibility.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Venture_Capital_selectividad_creciente_con_foco_en_traccion_y_escalabilidad\"><\/span><strong>Venture Capital: increasing selectivity with a focus on traction and scalability<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Compared to the investment peak of 2021-2022, <a href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/what-is-a-venture-capital-ss-a2\/\">venture capital<\/a> in January 2026 has shown greater selectivity, although investments in companies with proven traction and international ambition remain relevant. The month has seen significant rounds of funding in <strong>B2B software<\/strong>, <strong>healthtech<\/strong> and applied <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/data-ml-ai\/\">artificial intelligence<\/a> technologies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fracttal_cierra_una_ronda_de_299_millones_de_euros\"><\/span><strong>Fracttal closes a \u20ac29.9 million funding round<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The round led by <strong>Riverwood Capital<\/strong>, <strong>Seaya Ventures<\/strong> and <strong>Kayyak Ventures<\/strong> positions <strong>Fracttal<\/strong> as one of the most significant venture capital deals of the month.<\/p>\n\n\n\n<p>Fracttal represents:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>B2B software with consolidated expansion in Latin America.<\/li>\n\n\n\n<li>Validated SaaS model with proven recurrence.<\/li>\n\n\n\n<li>International traction that facilitates access to global investors.<\/li>\n<\/ul>\n\n\n\n<p>The transaction confirms that investors prioritise companies with a presence in multiple markets, proven execution capabilities and sustainable growth prospects.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tucuvi_capta_1715_millones_en_healthtech_e_IA_aplicada\"><\/span><strong>Tucuvi raises $17.15 million in healthtech and applied AI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>Tucuvi<\/strong>round with <strong>Cathay Innovation<\/strong> and <strong>Seaya's<\/strong>'s participation, reinforces the thesis of investing in artificial intelligence applied to healthcare.<\/p>\n\n\n\n<p><strong>Key factors:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Clinical automation through AI with tangible use cases.<\/li>\n\n\n\n<li>Global scalability in a sector with growing structural demand.<\/li>\n\n\n\n<li>Commercial validation in real healthcare settings.<\/li>\n<\/ul>\n\n\n\n<p>Healthtech continues to be one of the most attractive verticals for European venture capital, especially when it combines AI, clinical validation and international expansion potential.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MITO_AI_atrae_inversores_internacionales_con_377_millones\"><\/span><strong>MITO AI attracts international investors with $3.77 million<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>MITO AI<\/strong>round with <strong>KFund<\/strong>, <strong>Kibo Ventures<\/strong> and <strong>Lightspeed<\/strong>, confirms interest in applied artificial intelligence and positions Spain as a hub for AI talent.<\/p>\n\n\n\n<p><strong>Market interpretation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The presence of international investors validates the quality of Spanish technical talent.<\/li>\n\n\n\n<li>The funds prioritise companies with <strong>differentiated intellectual property<\/strong> and clear monetisation models.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"STAMP_combina_fintech_y_deporte_en_una_ronda_de_4_millones\"><\/span><strong>STAMP combines fintech and sport in a \u00a34 million funding round<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>STAMP<\/strong>, linked to the <strong>Bar\u00e7a Innovation Hub<\/strong>represents an interesting convergence between <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/fintech\/\">fintech<\/a>, the sports ecosystem and <em>corporate venture capital<\/em>.<\/p>\n\n\n\n<p>The operation demonstrates:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Greater sophistication in Spanish <em>corporate venture capital<\/em> .<\/li>\n\n\n\n<li>Potential for specific verticals where financial technology and traditional sectors converge.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Repscan_y_Taalentfy_refuerzan_la_apuesta_por_software_B2B\"><\/span><strong>Repscan and Taalentfy reinforce their commitment to B2B software<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Repscan<\/strong> has closed a <strong>$3.5 million<\/strong> round with participation from <strong>Bonsai Partners<\/strong> and <strong>Swanlaab Venture Factory<\/strong>, while <strong>Taalentfy<\/strong> has raised <strong>$1.5 million<\/strong> with support from <strong>Axon Partners<\/strong> and <strong>CaixaBank<\/strong>.<\/p>\n\n\n\n<p>Both operations confirm:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The persistent focus on HR Tech and specialised B2B software.<\/li>\n\n\n\n<li>Local investors' interest in companies with recurring subscription models.<\/li>\n\n\n\n<li>The digitisation of talent as a strategic vertical in the Spanish ecosystem.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ciberseguridad_tesis_estructural_con_M_A_y_venture_capital\"><\/span><strong>Cybersecurity: structural thesis with M&amp;A and venture capital<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>January confirms that <strong>cybersecurity<\/strong> continues to be one of the strongest verticals in the Spanish technology market, combining <strong>strategic M&amp;A<\/strong> operations with significant venture capital rounds.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ReeVo_adquiere_Hispasec_en_un_movimiento_transfronterizo\"><\/span><strong>ReeVo acquires Hispasec in a cross-border move<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of <strong>Hispasec<\/strong> by Italian group <strong>ReeVo<\/strong> consolidates international presence in managed cybersecurity services.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NetBird_y_Zepo_Intelligence_captan_rondas_de_crecimiento\"><\/span><strong>NetBird and Zepo Intelligence secure growth rounds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>NetBird<\/strong> has closed a <strong>$8.56 million round<\/strong>, while <strong>Zepo Intelligence<\/strong> has raised <strong>$12.89 million<\/strong>, reflecting investor interest in companies with differentiated technology in threat detection and security management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Build38_anuncia_operacion_estrategica\"><\/span><strong>Build38 announces strategic operation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although details have not been disclosed, <strong>Build38<\/strong> 's announcement confirms the dynamism of the sector and the interest of strategic buyers in advanced cybersecurity technology.<\/p>\n\n\n\n<p>The combination of strategic M&amp;A and venture capital in cybersecurity indicates:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Growing structural demand in the face of increasing threats and regulatory requirements.<\/li>\n\n\n\n<li>Consolidation in managed services and technology platforms.<\/li>\n\n\n\n<li>Sustained international interest in Spanish assets with distinctive technical capabilities.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Movimientos_corporativos_estrategicos_y_asset_deals\"><\/span><strong>Strategic corporate moves and asset deals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The month also saw significant corporate transactions aimed at reconfiguring portfolios and optimising strategic assets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Indra_adquiere_plataforma_de_gestion_de_trafico_aereo_no_tripulado\"><\/span><strong>Indra acquires unmanned air traffic management platform<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of modular drone management technology strengthens <strong>Indra<\/strong> 's position in airport digitalisation and advanced air traffic management systems.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Templus_expande_su_infraestructura_con_centros_de_datos_en_Lisboa_Madrid_y_Valencia\"><\/span><strong>Templus expands its infrastructure with data centres in Lisbon, Madrid and Valencia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The acquisition of data centres in three strategic locations confirms the commitment to critical digital infrastructure in southern Europe.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NRD_Multimedia_adquiere_unidades_de_negocio_audiovisual\"><\/span><strong>NRD Multimedia acquires audiovisual business units<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The move is part of a strategy to specialise in audiovisual content and technology.<\/p>\n\n\n\n<p>These corporate moves reinforce:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The reconfiguration of portfolios towards higher-value strategic assets.<\/li>\n\n\n\n<li>Operational optimisation through technological specialisation.<\/li>\n\n\n\n<li>Focus on digital infrastructure and critical technologies with sustained demand.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"El_mercado_de_M_A_tecnologico_en_Espana_consolidacion_madurez_y_ambicion_internacional\"><\/span><strong>The technology M&amp;A market in Spain: consolidation, maturity and international ambition<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The transactions carried out in January 2026 allow us to draw five key conclusions about the evolution of the <strong>technology M&amp;A market in Spain<\/strong>.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>A consolidated technology market with mid-market appeal.<\/strong><br>The transactions show recurring foreign interest, a mature venture capital ecosystem, and SaaS assets that are increasingly competitive in terms of valuations and execution capacity.<\/li>\n\n\n\n<li><strong>Private equity dominates value creation.<\/strong><br>While venture capital becomes more selective, private equity actively pursues <em>Buy-and-build<\/em>strategies, sector consolidation and the construction of pan-European platforms, especially in vertical software and specialised services.<\/li>\n\n\n\n<li><strong>Verticalisation and specialisation as differentiating factors.<\/strong><br>Sector-specific software, <em>fleet management<\/em>, healthtech, HR Tech, fintech and cybersecurity account for most of the transactional activity, reflecting the maturity of the market and the ability of Spanish companies to compete in specialised niches.<\/li>\n\n\n\n<li><strong>Digital infrastructure as a defensive asset.<\/strong><br>Although lower in volume than in previous months, transactions in telecommunications infrastructure and data centres show that funds continue to favour resilient assets with predictable cash flows.<\/li>\n\n\n\n<li><strong>Venture capital fuels the future pipeline of M&amp;A.<\/strong><br>Rounds in applied artificial intelligence, fintech and vertical SaaS represent the main breeding ground for companies that could be integrated into future strategic operations, reinforcing the cycle of value creation in the Spanish technology ecosystem.<\/li>\n<\/ol>\n\n\n\n<p>January 2026 has not only been an active start to the year. It has confirmed that the cycle of technological consolidation in Spain continues with greater maturity, more available capital and growing international ambition. <strong>Spain is no longer a peripheral market in Tech M&amp;A<\/strong>, but rather a structurally attractive ecosystem with competitive assets and an increasingly professionalised financial environment.<\/p>\n\n\n\n<p>In this context of increasing specialisation and competition for quality assets, expert advice is crucial for seizing opportunities and successfully managing the <a href=\"https:\/\/techma.bakertilly.es\/en\/acquiere-a-company-2\/\">acquires<\/a> and <a href=\"https:\/\/techma.bakertilly.es\/en\/sale-of-companies\/\">sell technology companies<\/a>processes. At Baker Tilly, our <strong>Tech M&amp;A<\/strong> team brings sector expertise, strategic analysis and strong execution capabilities in complex transactions, supporting our clients at every stage of the process to maximise value and reduce risk in an increasingly dynamic and sophisticated market.<\/p>","protected":false},"excerpt":{"rendered":"<p>Consolidaci\u00f3n industrial y private equity activo impulsan el arranque de 2026 en el mercado de M&amp;A tecnol\u00f3gico en Espa\u00f1a El mes de enero de 2026 ha confirmado las principales din\u00e1micas observadas durante el \u00faltimo trimestre de 2025, consolidando un patr\u00f3n de creciente sofisticaci\u00f3n en el mercado de M&amp;A tecnol\u00f3gico en Espa\u00f1a. El periodo ha estado [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":69168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[222],"tags":[],"sectores":[],"tipo-contenido":[2260],"class_list":["post-69166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-adquisiciones","tipo-contenido-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/comments?post=69166"}],"version-history":[{"count":2,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69166\/revisions"}],"predecessor-version":[{"id":69179,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69166\/revisions\/69179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media\/69168"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=69166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/categories?post=69166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=69166"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=69166"},{"taxonomy":"tipo-contenido","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tipo-contenido?post=69166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}