Digital Services Industry Update | Q3 2023

Drake Star's Global Digital Services team is pleased to present the Q3 2023 Digital Services Industry Update, showcasing significant deal momentum across several verticals including cyber security, data analytics, cloud migration and business intelligence among others. The need for digital transformation and cost-efficiency continues to fuel demand for Digital Services, which enable companies to remain competitive in today’s volatile climate. 

All sub-verticals saw landmark deal-making activity with 305+ M&A deals & $10.0 billion+ disclosed and 280+ fundraises & $3.5bn+ disclosed in Q3 2023, including:

• CoreMedia acquired BySide & Smarkio for an undisclosed amount, advised by Drake Star Partners 
• Bain & Company acquired Max Kelsen for an undisclosed amount
• Tietoevry acquired MentorMate for an undisclosed amount
• Inetum acquired Proceed, 47 Quai and Viseo’s Microsoft Dynamics business for an undisclosed amount
• Denodo raised $336m of development capital from TPG
• Josys raised $92.7m of Series B funding from Global Brain and Globis Capital Partners
• MediaMint raised an undisclosed amount of development capital from Everstone Capital and Recognize Partners
  
  

Access the full report here: