APAC tech M&A values poised for growth, recent Singapore deals suggest

Singapore tech deals from Q1 to Q3 were valued at $3.0b, despite a 13% volume decrease.

In APAC, 30% of investors expect average tech M&A values to rise significantly over the coming year whilst 40% expect valuations to rise slightly to moderately, Morrison Foerster reported.

This optimism is reflected in recent M&A data from Singapore, where dealmakers completed 63 transactions targeting tech companies from Q1 to Q3 2024.

According to Mergermarket, although the transactions were 13% lower than the 72 recorded last year, the aggregate value of these transactions remained stable year-on-year (YoY), from $3.1b to $3.0b in 9M 2024.

In H1 2024, shareholder activism surged by 29% and the APAC region experienced unprecedented activity, with 43 campaigns, notably in Japan, South Korea, and Singapore.

Morrison Foerster said this uptick is driven by attractive valuations of publicly listed companies in Asia and significant potential for governance enhancements.

“Asia Pacific buyers share the most bullish outlook on deal valuations, likely reflecting the catch-up effect that awaits the region. This optimism is expected to filter through to private companies based on market comps, making APAC a hotbed for potential value convergence and cross-border deals,” Jeremy White, co-chair of Morrison Foerster’s global M&A Group said.

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