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The State of MarTech Report

There has never been a more exciting time to work in marketing and technology. The world was already digitising rapidly, but the pandemic has accelerated this digital transformation. Companies that have been forced to adapt to evolving customer behaviours to survive now have an opportunity to thrive.

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Martech M&A Activity Continues to Grow in Q3 2021

M&A activity in the martech industry remained strong in Q3 2021, with the numbers of mergers and acquisitions up by 114% year on year. 

According to the Q3 2021 Luma Market Report, the growth figure is down from the 214% quoted in Q2, but is partly accounted for by the dip in activity during the early days of the Covid-19 pandemic in Q2 2020. 

We can still see significant YOY growth in M&A activity, with martech featuring prominently, accounting for 46% of activity in this quarter. 

Luma picks out data and analytics as the common M&A theme, pointing at Thoma Bravo's $6.4bn acquisition of Medallia, TransUnion’s $3.1bn deal to buy Neustar, and IDG’s acquisition of KickFire.

luma M&A activity

Looking at martech activity in isolation, we see continued growth in activity from Q2, with nine deals worth upwards of $100m. Alongside the aforementioned data and analytics acquisitions, the biggest deal was Intuit's $12bn acquisition of Mailchimp - the largest ever bootstrap acquisition. 

luma martech activity

Luma sees customer experience and communications as core drivers of martech M&A activity, and expects to see more activity in this space in the next quarter.