托管服务供应商（MSP）市场更新 2025年第三季度

MANAGED SERVICEPROVIDER “MSP”MARKET UPDATE NEW YORK | LONDON | LOS ANGELES | PARIS | MUNICHSAN FRANCISCO | BERLIN | DUBAI STRONG TRANSACTION TRACK RECORD ACROSS THE GLOBAL TECH LANDSCAPE OVER 500+ TRANSACTIONS COMPLETED PROVEN TRACK RECORD IN MSP M&A AND GROWTH FINANCING ADVISORY +491733930070RALF PHILIPP HOFMANNManaging PartnerMunich CHRISTOPHE MORVAN +33 687 990 537Managing PartnerParis SAM LEVY +1 646 245 3550PartnerNew York +44 777 305 2247GABY SILVESTRISPartnerLondon Q3 MSP M&A DEAL COUNTS AND DOLLAR VALUE RAMP SIGNIFICANTLY 100+ TRANSACTIONS WITH $2.6 BILLION IN DEAL VALUE MSP M&A activity ramped significantly in Q3 2025, with deal volume increasing 17% Q-o-Q to108 transactions. The disclosed deal value increased sharply to $2.6 billion with a significant In line with previous quarters, both strategic and financial consolidators remained active inpursuing IT service providers to strengthen their service capabilities, with such deals making Strategic buyers continue to consolidate actively, with all the top 10 players acquiring at leastfive MSPs over the past two years. In contrast, financial investors typically focus on one ortwo MSP investments. The global MSP market value reached $305 billion in 2024 and is expected to grow to $571billion by 2033, driven by increasing IT complexities and demand for cost efficiency. STRONG MARKET TRACTION DESPITE ECONOMIC UNCERTAINTY ~7.2% 121 Expected market growth CAGRuntil 2033 Global managed servicemarket value in 2024 Top 3 Most Important Outcomes Achieved From Managed Services Outsourcing IT services to MSPsenables operating cost efficiencies Assist in navigating the complexities WHAT BUYERS ARE REALLY LOOKING FOR IN TODAY’S MSP MARKET As we close out 2025, the MSP M&A market continues to demonstrate resilience and depth—even amid shifting macroeconomic conditions and elevated capitalcosts. Strategic buyers and private equity sponsors remain highly active, but their priorities have evolved. Today’s acquirers are more selective, disciplined, andfocused on tangible value creation levers. Across transactions this year, includingTitan MSP’s acquisition of RFAandFocus Technology’s acquisition of Converged, both buy-side clients ofDrake Star,several themes have emerged that reflect what buyers are really looking for: Cybersecurity and cloud Operational maturity and Vertical expertise and Talent and leadership Recurring revenue quality Security, compliance, and cloudtransformation capabilities havemoved from “nice-to-have” to“must-have.” The ability todeliver secure, compliant hybrid- Buyers increasingly favor MSPswith well-structured deliverymodels, clear accountability While top-line growth remainsimportant, acquirers areprioritizing revenue visibility andstickiness. High-retentionmanaged services with multi- “BothTitan MSPandFocus Technologyexemplify how disciplined, well-capitalized platforms are pursuing strategic acquisitions tobroaden their service portfolios, deepen technical expertise, and expand regional coverage—even as they maintain a sharp focusonintegration and client experience. AtDrake Star, we continue to see strong buy-side and sell-side activity in the sector, underpinned by recurring revenue models,strategic consolidation, and continued investor confidence in IT services. The next wave of transactions will likely reward MSPsthat Sam LevyPartner, Drake Star IT COMPLEXITIES AND COST EFFICIENCY DRIVING MANAGED SERVICES TOREACH $570B MANAGED SERVICES MARKET SIZE | $ BN KEY DRIVERS Increasing Complexity:The swift advancement of technology, varied softwareenvironments, and the integration of numerous platforms are driving the need for Cost Efficiency:Managed services improve cost efficiency by optimizing resourceutilization and reducing operating expenses, thereby enhancing overall profitability. Businesses are increasingly choosing to outsource to MSPs for infrastructure and tools Cybersecurity Challenges:The rising incidence of cybersecurity threats is fueling theneed for MSPs, who provide specialized solutions such as 24/7 monitoring and threat Enhanced Business Agility: Managed services offer the flexibility to promptly adapt IT resources to changes in the market, customer requirements, and emerging M&A ACTIVITY CONTINUES TO GROW, DRIVEN BY IT SERVICES MAKING UP83% OF DEALS 108 ANNOUNCED M&A DEALS IN THE US AND EUROPE IN Q3 2025, WITH $2.6B AGGREGATE DISCLOSED DEAL VALUE MSP PLATFORMS CONTINUE TO CONSOLIDATE WITH TOP 10 CLOSING 5+ DEALS EACH TOP MSP CONSOLIDATORS | Q4 2023–Q3 2025 U.S. CONTINUES TO BE THE LARGEST M&A MARKET TOP M&A DEALS IN THE MSP SPACE | Q3 2025 SELECT M&A DEALS IN THE MSP SPACE Q3 2025 13 PRIVATE PLACEMENTS IN Q3 25, WITH 85% FROM THE US ANNOUNCED PRIVATE PLACEMENT DEALS IN THE US AND EUROPE | Q3 2025 IT CONSULTING & SOFTWARE FIRMS DRIVE INVESTMENTS TOP PRIVATE PLACEMENT DEALS IN THE MSP SPACE | Q3 2025 SELECT PRIVATE PLACEMENT INVESTMENTS IN MSPS Q3 2025 $27MINVESTMENT