Capstone’s Q1 2020 HCM SaaS Coverage Report, available for download below, reports that the last twelve month (LTM) merger and acquisition (M&A) activity in the HCM SaaS industry has continued its upward trend with 150 deals. Deal volume in Q1 2020 reached a quarterly record of 48 deals as COVID-19 didn’t slow deal activity. M&A targets were valued at a healthy median revenue multiple of 5.4x LTM, slightly below the 5.7x and 5.8x peaks we saw in 2016 and 2019, respectively.
Report highlights include:
- Key Industry Takeaways
- M&A Activity & Multiples
- Public Company Valuation & Operating Metrics
- Capstone Headwaters’ Technology, Media & Telecom Team
Insights for Middle Market Leaders
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