1st Half 2021 Professional Services M&A update

Read more about the M&A activity in the professional services sector

Stephen Guy

Stephen Guy

Managing Director, KPMG Corporate Finance LLC

+1 443-946-9789

Professional services sector landscape

M&A Activity & Aggregate Deal Value: Q2-19 – Q2-21

  • Global aggregate deal value for the Professional services sector increased to $80.3bn* in Q2-21, up from $66.2bn in Q1-21
  • Aggregate global M&A deal volume for the sector however saw a decline of 11.5% in Q2-21 compared to Q1-21
  • In Q2-21, the U.S. Professional services aggregate M&A deal value increased to $66.4bn*, up from $47.0bn in Q1-21. During the same period, M&A deal activity fell by 12.8% to 506 deals
  • The U.S. accounted for 37.4% of global professional services M&A activity in Q2-21, slightly down from 38.0% witnessed during the prior quarter

Professional Services Public Company Sector Overview

Sector LTM Trading Multiples Description
EV /
EV /
Business Process Outsourcing 2.85x 17.3x Outsourced, offshore, or third-party service providers
Diversified Data & Information Services 5.97x 21.6x Providers of data, analytics, and business information services
Data & Information Services: Financial & Media 5.51x 23.6x Companies offering research, insights, and analytics related to financial market data
Governance, Risk, and Compliance 4.95x 16.9x Providers of compliance and risk management solutions
HR Staffing & Professional Services 1.83x 16.7x Workforce solutions and other professional services
Human Resource Outsourcing 3.71x 17.0x Outsourced and managed human resource service offerings
IT Consulting 3.34x 16.2x Providers of information technology solutions
Speciality Consulting 1.72x 15.8x Advisory, consulting, and analytic solution offerings

We hope you find this information valuable, and as always, feel free to reach out if you would like to discuss in further detail. To read the full report, download the PDF below.



During Q2-21, Microsoft Corporation entered into a definitive agreement to acquire Nuance Communications, Inc. for $19.8bn, which comprised 24.7% of global and 29.8% of U.S. aggregate deal value for the Professional Services sector.


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