AI is the poster child of this acquisition cycle, but the data tells a more grounded story
As I have said to clients repeatedly, yes, AI remains the poster child of the current acquisition cycle in the headlines, but the data tells a more grounded story.
As I have said to clients repeatedly, yes, AI remains the poster child of the current acquisition cycle in the headlines, but the data tells a more grounded story.
By disclosed deal value, AI ranks third in H1 2026, sitting behind Software and Cybersecurity. The SaaS erosion is real and accelerating. Agent-driven disruption has compressed multiples sharply, and what we are seeing now is a wave of sub-scale software platforms either seeking the protection of a larger balance sheet or moving toward an exit before the valuation floor drops further. Capital in this market is not chasing narratives.
It is concentrating around control points, and in 2026 those control points remain enterprise software at scale and security infrastructure.
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Eighteen years in investment management, M&A and financial technology. A CFA Charterholder, he leads investment analysis, valuation and fund structuring across Significa's advisory and investment practices, and teaches valuation and fund structures in the CVC Builder curriculum. Concurrently Chief M&A and Growth Officer at AlternativeSoft in London; co-founder of MarkeScope, which developed the first stock-screening solution to incorporate risk measures. Treasurer of CFA Society Egypt; BSc Electrical, Electronics and Communications Engineering, Cairo University.