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Global IT Tech Report | H1 2023

08 Aug 2023

Drake Star’s IT Tech team is excited to share the Global IT Tech Report H1 2023, providing in-depth insights into the most recent capital market developments, as well as M&A and private placement activities within the DevOps, Infrastructure Management, and Service Management sectors.

Download the full report at the download button below.

First half 2023 highlights:

  • H1 2023 offers evidence for initial signs of a recovering market across all verticals.
  • Despite performance lagging the NASDAQ, all sub-verticals are trading at substantial valuation premiums to the index.
  • M&A deal count almost doubled compared to six months prior (H1 2023 21 transactions vs. H2 2022 11 transactions).
  • OpenText’s acquisition of Micro Focus and IBM’s announced acquisition of Apptio significantly contributed to total M&A dollar volume in H1 2023 ($12.2bn).
  • While IT Tech fundraising activities have exhibited an increase in terms of deal count, total private placement volume is down in H1 2023 vs. H2 2022.
  • The $250m Series D fundraising of Builder was the largest private placement transaction in terms of deal size in H1 2023.

Key technology trends for 2023 include:

  • Adoption of AI and ML solutions will be prevalent across all sub-verticals:
    • Increased integration of MLOps and AIOps within the DevOps lifecycle allowing developers to focus on strategic tasks.
    • Exponential increase in data output from Infrastructure Management platforms calls for AI to automate data intelligence and response workflows.
    • Strong evidence for increased awareness of AI to improve efficiency with limited human intervention within the scope of Service Management solutions.
  • Increasing adoption of Kubernetes for container orchestration on the back of the growth of microservice architectures.
  • Security automation gains momentum due to the high degree of automation within software development pipelines.

Download the report for full details below.
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