RL Hulett：2025年第二季度全球软件与科技赋能服务行业并购市场研究报告（英文版）

In Q2, the North American Technology Software Industry Index increased by 21.6% and outperformed a 10.2% increase in the S&P 500 over the same period. ▪ The median EV/Revenue multiple for reported private equity deals decreased to 3.6x through 1H 2025 from 3.9x in 2024, but increased for strategic deals to 3.1x from 2.0x in the prior year. ▪ M&A deal volume in the sector decreased 4.8% in Q2 to 1,090 deals from 1,145 in Q1, but increased 19.8% from 910 deals in Q2 of the prior year. ▪