COVID-19 brought in a new way of conducting life and business in 2020. Tech has necessarily had to develop since to deliver new demands in an increasing online world.
New trends driving growth
Many employees now work from home, and online meetings, both client-facing and internal, are now common. Now, programmes such as Zoom, Teams and Skype, to name but a few, are becoming an intrinsic way of life. With many reporting increased efficiencies during this trend, it is likely to continue post-pandemic.
This increase is leading to greater expectations from users. With everything online and in the cloud, businesses are becoming more vulnerable to ransomware, data breaches and even just connectivity issues. As a result, tech companies are scrambling to innovate and develop new game-changing products and technologies.
More growth expected
In S&P Global’s market research Ten tech trends driving transformation in 2022, it is reported that tech M&A, already at record levels, is actually expected to grow further. Annual tech M&A spending broke the $1 trillion threshold in 2021, and 2022 is expected to continue the trend.
SaaS platforms and AI are key drivers of this growth trend, with S&P’s research finding that 95% of companies believe AI is important to their digital transformation efforts.
Recent Kingsbrook completions
Here at Kingsbrook, in the last year, we have sold companies providing EPOS systems, SaaS solutions and asset management systems.
We have also seen an increase in companies looking to acquire in the Software and Technology sectors. Enquiries from companies looking to develop a leading presence through acquisition have increased.
Companies are eager to snap up talented development companies to create an unrivalled portfolio of products in the technology-driven landscape of tomorrow.
If you are thinking of selling your business and would like to explore your options with Kingsbrook, please get in touch, either by email at [email protected] or call us at 01635 736741.