Critical thinking and technical analysis for founders navigating the sell-side M&A landscape.
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Explore TruWater Advisory’s perspectives on M&A, market activity and value creation across Technology & Data Services, Marketing & Communications and Professional Services.
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Cloud consultancies average 1.21x EV/revenue in APAC. To command premium multiples, firms must escape commodity work by building certified security, SaaS, and recurring managed services.
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Data and AI services lead APAC valuations at a 3.2x average. Buyers prize transition from project build to operate managed services, deep vertical specialization, and scaled engineering teams.
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The global Building Information Modelling (BIM) market is forecast to reach US$26 billion by 2034, and APAC is leading the growth, at 15-17% CAGR versus roughly 11% for North America and...
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Cybersecurity has moved from a budget line item to a board-level priority. Global spending is on track to surpass $213B in 2025, up from around $140B just five years earlier. Ransomware is...
Most of the acquisitions we cover in this series are additive: a holding company buying a specialist to fill a gap. Dentsu's reported review of its international business is the opposite...
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Global cloud spending is forecast to exceed US$1.3 trillion by 2028 (IDC), and Microsoft's ecosystem, anchored by Azure's roughly 20% global market share, is one of the most powerful growth...
General APAC IT services average a 1.65x multiple, but prepared firms reach 2.6x. Buyers pay a premium for recurring managed services, specialized IP, scale, and diversified enterprise clients.
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Google Cloud partners command a strong 2.3x average multiple in APAC M&A. Strategic buyers actively target firms with deep data specialization, enterprise accounts, and certified engineers.
PODCAST
Our founder Hattie Marsden recently joined Marketing-Interactive's Marketing Connected podcast for an episode on what founders should actually weigh up before selling their agency. It's a...
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Global ad spend is projected to reach US$1.1 trillion in 2026, growing at a 12.1% global CAGR, with APAC ad spend climbing to US$351 billion on the back of accelerating growth in Southeast...
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Everyone's watching Microsoft and Salesforce as they sweep up cloud-service partners across Asia Pacific. But while those ecosystems dominate headlines, Oracle's story has been unfolding in...
Publicis Groupe's acquisition of HEPMIL Media Group is, on the surface, a straightforward story: a global holding company buys Southeast Asia's leading influencer and creator agency. But...
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Salesforce remains the world's leading CRM platform, holding 20.7% of the global market in 2024 according to IDC. The global CRM industry was valued at USD 73.4 billion in 2024 and is...
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Business consulting M&A slowed globally in 2024 compared to 2023. Australia, India and Singapore barely noticed. Those three markets stayed genuinely active through the slowdown, and...
For a decade, talent marketplaces were a growth story. They promised borderless work, limitless liquidity, and a new operating model for human capital. By 2021, they were among the most...
The gaming industry is experiencing unprecedented growth, with projections indicating it could be worth over $320 billion by 2026 (PWC).
The corporate secretarial services industry is facing a critical juncture. Many mid-market business owners see healthy margins and continued growth, even in tougher markets like China,...
When it comes to M&A in B2B services, valuations can vary widely depending on growth trajectory, profitability, leadership strength, differentiation, and client base.
