Analysis
Business and financial services M&A update: Q1 2024
Banks are evolving in their use of cloud technology, shifting from a basic understanding and utilization to a more sophisticated application.¹
Business and financial services trends
- Business process outsourcing (BPO)
In Q1 2024, the accounting and finance BPO market faced a transformative phase, marked by digitalization and increased entrepreneurship, propelling demand for accessible solutions.2
- Consulting
In Q1 2024, the consulting sector saw robust M&A activity, specifically targeting firms specializing in digital transformation, AI, and cloud technologies.3
- Education and training (E&T)
The global LXP market size might even reach $15.96 billion by 2028, with a CAGR of 15.7% from 2021 to 2028.4
- Insurance, legal, and risk services
The total value of global announced mergers and acquisitions (M&A) of law firms in Q1 2024 was $797.6 billion, a 38% increase compared to Q1 2023.5
- Staffing and recruiting
The expected economic recovery and the use of technology to optimize sales and recruitment processes are seen as key to overcoming challenges and achieving industry goals.6
This newsletter is a periodic compilation of certain capital markets information.
Endnotes
1 S&P Capital IQ, select public comparables set in Q1 2024, accessed April 16, 2024.
2 MCF Corporate Finance, “Business services M&A: Accounting and finance BPO – Q1 2024,” March 26, 2024.
3 IBISWorld, Global Management Consultants, March 2024.
4 IBISWorld, Business coaching in the US, February 2024.
5 David Thomas, “US law firms ride rising M&A wave in Q1,” Reuters, April 3, 2024.
6 Dave Anderson, “The top staffing industry trends that will define 2024,” Sense, updated May 30, 2024.
Previous editions
- Business services M&A update: Q4 2023
- Business services M&A update: Q3 2023
- Business services M&A update: Q2 2023
- Business services M&A update: Q1 2023
- Business services M&A update: Q4 2022
- Business services M&A update Q3 2022
- Business services M&A update Q2 2022
- Business services M&A update Q1 2022
- Business services M&A update Q4 2021
- Business services M&A update: Q3 2021
- Business services M&A update: Q2 2021
- Business services M&A update: Q2 2019
- Business services M&A update: Q1 2019
- Business services M&A update: Q4 2018
- Business services M&A update: Q3 2018
- Business services M&A update: Q2 2018
- Business services M&A update: Q1 2018
- Business services M&A update: Q4 2017
- Business services M&A update: Q3 2017
- Business services M&A update: Q2 2017
- Business services M&A update: Q1 2017