Image: ALBIA IMAP analysis, MergerMarket, TTR
M&A
The Spanish market for mergers and acquisitions in technology consulting saw 14 deals in the second quarter of 2026, stabilizing its activity. According to the latest Albia IMAP report, this period marks a milestone, with investment from private equity funds surpassing that of strategic buyers for the first time.
The Spanish mergers and acquisitions market (M&A) in the sector of the IT consulting It has recorded 14 transactions during the second quarter of 2026, a figure that stabilizes activity after an exceptional start to the year and places it at levels similar to those of the same period in 2025, according to the latest sector report from the advisory firm. Albia IMAPThis quarter marks a historic milestone: the investment activity of Private equityAdding its direct investments and those of its subsidiaries, it has surpassed that of independent industrial buyers for the first time.
Market stabilization after a record first quarter
After an exceptional first quarter with 21 transactions, activity slowed between April and June, declining by seven deals. This volume of 14 transactions is slightly below the quarterly average of 17 transactions recorded over the last eight quarters, but exceeds by two the figure for the second quarter of 2025, when 12 deals were closed. This trend suggests a return to the sustained growth that has characterized the sector over the past two years.
Private Equity marks a milestone in the investor profile
The most significant change during this period has been in the buyer profile. For the first time, the weight of the funds of Private equity is higher than that of strategic investors. Francisco Hidalgo-Barquero, partner of Albia IMAP, It underlines the relevance of this data: "The activity in Q2 reveals an unprecedented figure. Taking into account direct investments and activity of subsidiaries, the operations of Private equity They have accounted for 57%. Until now, M&A activity by independent industrial players was overwhelmingly higher. In 2025, for example, they represented 72% of transactions."
The manager of Albia IMAP This shift is seen as "a natural result of the platform growth we've observed in this sector over the past three years." Breaking down the quarter, industrial investors accounted for 86% of deals, split equally between independent companies (43%) and private equity-backed platforms (43%). Pure financial investors made up the remaining 14%.
| M&A Indicator for IT Consulting | Data (Q2 2026) |
|---|---|
| Total Operations Q2 2026 | 14 |
| Operations Q1 2026 | 21 |
| Operations Q2 2025 | 12 |
| Private Equity activity (direct + investee companies) | 57 % |
| Domestic Buyers | 86 % |
| Foreign Buyers | 14 % |
Strong predominance of the domestic buyer
Regarding the origin of the buyers, Spanish capital continues to be the dominant player, representing 86% of transactions, a notable increase compared to previous periods. The remaining 14% corresponded to foreign buyers, among which the acquisition of [company name] stands out. Talentomobile, specializing in digital solutions for the financial sector, by the Italian Lutech.
Among the most relevant transactions led by independent strategic buyers are the acquisitions of ACK Storm y Sade by Izertis, and the purchase of AMS Solutions by SngularIn the field of platforms Private equityThe purchase of Iparcom by B2 Group (participated by Queka), that of Olocip by Plexus Tech (from the portfolio of Portobello), and the acquisition of Xperientia by Unikal (supported by Ufenau). These are in addition to the purchase of Gloin by Laberit (participated by Nazca) and the entrance of Babel (property of Mubadala) in the IT consulting business of BosonitFrom the perspective of financial investors, the acquisition of LIS Data Solutions by ABE Capital.
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