M&A advisory services in the Czech Republic
The Czech Republic produces a steady pipeline of founder-led exits across enterprise software, cybersecurity and SaaS, with deal sizes ranging from strategic bolt-ons to material PE platform acquisitions.
Recent exits including Avast's acquisition by NortonLifeLock and the continued international expansion of companies like Showmax and Behavio have deepened the market's understanding of cross-border tech M&A.
Flow advises both bootstrapped and venture-backed Czech founders through their exit - bringing a strong PE and strategic acquirer network, a lean end-to-end process and KPI-driven preparation that positions Czech companies to achieve the strongest possible buyer interest.
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Czech Republic tech M&A deals in the last 12 months
$11M
Czech Republic median tech M&A valuation
3.5x
Czech Republic median tech M&A revenue multiple
$678M
Czech Republic biggest tech acquisition in the last 12 months
Selling your tech company in the Czech Republic
Czech M&A follows European mid-market conventions with country-specific overlays around notarised closings, the participation exemption for corporate sellers and the FDI screening regime introduced in 2021.
Completion accounts and locked-box
Czech private M&A uses both locked-box and completion accounts. Locked-box is growing in PE-led and tech deals; completion accounts remain frequent in traditional sectors. Choice driven by sector convention and process design.
W&I insurance is growing
Warranty & indemnity insurance is becoming more common in Czech deals above roughly €15M. Premiums (around 1-1.5% of cover) typically split between buyer and seller, replacing traditional escrow as the primary protection mechanism.
FDI screening
Czech FDI screening (in force from 2021) requires notification of acquisitions by non-EU investors of Czech companies in sensitive sectors - defence, dual-use, AI, critical infrastructure. Adds notification time and conditions to scoped transactions.
Capital gains for founders
Czech individuals are taxed on share disposal gains at 15% (up to a ~CZK 1.6M annual threshold) and 23% above. Three-year holding exemption available for unlisted shares meeting specific conditions - worth checking against the cap table well ahead of a sale.
Corporate participation exemption
Sales of subsidiary shares by a Czech corporate seller can be exempt from corporate income tax - typically requires 10%+ holding for 12 months and the subsidiary being a qualifying EU/EEA entity. Often drives whether a transaction is share or asset-structured.
Merger control and notarisation
Office for the Protection of Competition (ÚOHS) reviews transactions where parties' combined Czech turnover exceeds CZK 1.5bn and at least two parties each have CZK 250M+ Czech turnover. Most tech deals don't trigger. Czech s.r.o. share transfers require notarisation - a recurring closing-day cost.
Recently acquired tech companies in the Czech Republic
Biggest M&A recently in the Czech Republic was a $678M acquisition of TESCAN by Shimadzu in December 2025.
See all M&A deals in the Czech Republic| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Dec-25 | TESCAN | | TESCAN is a Brno-headquartered supplier of scanning electron microscopes and focused ion beam systems for materials science and life sciences. It manufactures SEMs with resolutions down to 0.4 nm, including environmental and plasma models for semiconductors, geology, and biology. TESCAN develops correlative microscopy software and detectors. Founded in 1992, the Czech company serves research institutes in 90 countries with subsidiaries in the US, China, and Germany. | Shimadzu | $678M | 3.5x | |
Mar-26 | GAMEE | | GAMEE is a Prague-based gaming platform that delivers high-engagement experiences through missions, tournaments, and prize rewards, integrating blockchain for mainstream audiences. Launched in 2015, it was acquired by Animoca Brands in 2020, expanding its reach in Web3 gaming. Users participate in arcade-style games on mobile and web, earning tokens via skill-based competitions hosted on its app and token.gamee.com ecosystem. | AlphaTON Capital Corp. | $11M | - | |
Dec-25 | ROI Hunter | | ROI Hunter operates a Product Performance Management platform connecting e-commerce product data to ad campaigns on Google Shopping and Meta. Prague-headquartered, it segments inventory for promotions targeting best-sellers, new arrivals, and deadstock while factoring margins and returns. Serving Marks & Spencer, Magalu, and Farfetch as Meta Business Partner and Google Premier Partner, the tool bridges marketing and merchandising teams. | Pattern | $7.0M | - | |
May-26 | Rossum | | Rossum is a Prague-headquartered provider of AI-powered document automation for enterprises. The cloud platform processes invoices, orders, and statements, serving over 275 businesses worldwide including Siemens, Doordash, and Bosch. It extracts data from PDFs and images using cognitive capture, integrates with ERP systems like SAP and Oracle, and automates AP workflows. Founded in 2017, Rossum combines machine learning with human-in-the-loop validation. | Coupa | - | - | |
Feb-26 | Lundegaard | | Lundegaard is a Prague-headquartered digital agency founded in 1998, assisting clients with internet and mobile technologies to expand and optimize business operations. | Expandia | - | - | |
Jan-26 | Kaleido VR | | Kaleido VR is a mental healthcare platform employing virtual reality technologies to promote healthy aging among seniors. | OROI | - | - | |
Jan-26 | iFORO Group | | iFORO Group is a Czech internet firm facilitating online business matchmaking and opportunity mediation for enterprises. | Genesis Growth Equity | - | - | |
Dec-25 | Macaly | | Macaly is an AI platform enabling founders and small businesses to generate, host, and scale SEO-optimized websites and web apps from prompts. | team.blue | - | - | |
Dec-25 | F | FF GROUP | | FF GROUP provides AI solutions for traffic analytics, license plate recognition, and intelligent transportation systems. | Axis Communications AB | - | - |
Sep-25 | Understand Labs | | Understand Labs is a data visualization firm transforming dashboards into interactive stories. It serves analytics teams in tech companies enhancing engagement on platforms like Tableau and Power BI. | GoodData | - | - | |
Aug-25 | Cool Cats | | Cool Cats is a Miami-based Web3 studio developing NFT collections, comics, games, and merchandise around its blue-chip Cool Cats avatar series. Launched on Ethereum in 2021, the project features 9,999 generative cat NFTs with traits like sunglasses and backgrounds, achieving over $100 million in secondary sales volume. It expands via partnerships with brands like Pepsi and games on platforms including The Sandbox. | Animoca Brands | - | - | |
Aug-25 | taikun.cloud | | taikun.cloud is a Vienna-headquartered platform specializing in multi-cloud orchestration technology for building public, private, and hybrid clouds, serving enterprises in Europe and North America. | Cloudera | - | - | |
Jul-25 | C | Coinvexor | | - | Aladdin Tech | - | - |
Jun-25 | Vocalls | | Vocalls is a Tel Aviv-headquartered provider of conversational AI solutions including voicebots, chatbots, emailbots, and live translation tools. Launched in 2016, the company automates customer interactions for enterprises using its proprietary natural language processing engine. Vocalls serves clients in e-commerce, finance, and telecommunications sectors, handling millions of conversations monthly. The platform integrates with telephony systems and supports multilingual deployments across Europe and the Middle East. Its no-code builder allows businesses to deploy customized bots for inquiries, bookings, and support, enhancing retention through efficient resolutions. | CallMiner | - | - |
Who is buying tech companies in the Czech Republic?
ABUGO, Expandia and Pattern are the most active acquirers in the Czech Republic.
See all acquirers in the Czech Republic| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
ABUGO | | ABUGO Group SE is a European holding company consolidating SaaS providers in e-commerce, retail, and customer experience technologies. Headquartered in Luxembourg, it owns platforms for omnichannel selling, payment processing, and loyalty programs used by mid-sized retailers across Germany and France. ABUGO integrates acquisitions like shop software suites and marketing automation tools to deliver bundled services. The group targets scalability through API connections and serves brands in fashion and electronics verticals. | ReservioShopsysSmartsupp | 3 | |
Expandia | | Expandia is a Prague-headquartered financial services firm focusing on loans for manufacturing companies, real estate developments, and general business financing in the Czech Republic. The company provides tailored credit solutions and advisory for industrial expansions and property projects. | Lundegaard | 1 | |
P | Pattern | - | ROI HunterNextWave Talent | 1 | |
Aladdin Tech | | Aladdin Tech is a Dubai-based integrator of financial technologies for digital transformation. It deploys core banking systems, payment gateways, and blockchain solutions for banks and fintechs in the Middle East. Services include API development, cybersecurity enhancements, and compliance tools to modernize legacy infrastructures and enable seamless customer experiences. | CoinvexorInsperia | 1 | |
GoodData | | GoodData is a cloud-native analytics platform enabling enterprises to build embedded BI applications. Founded in 2007 with headquarters in San Francisco and Prague, it powers data products for Zendesk, HubSpot, and RingCentral. The platform processes petabytes of data across marketing, sales, and finance workflows using semantic layers and white-label dashboards. | Understand Labs | 1 | |
Genesis Growth Equity | | Genesis Growth Equity is a Prague-based growth equity manager targeting mid-market companies in Central and Eastern Europe. Led by professionals with extensive investment experience, it collaborates with Genesis Capital on deals in technology, healthcare, and consumer sectors across the Czech Republic and Slovakia. The firm provides expansion capital alongside operational guidance to drive enterprise value. | iFORO GroupTechPlastyHC electronics | 1 | |
AlphaTON Capital Corp. | | AlphaTON Capital Corp. is a digital asset treasury management firm. Based in Toronto, Canada, the company holds and manages cryptocurrencies and blockchain assets for institutional clients, emphasizing secure storage and yield generation strategies. | GAMEETarus TherapeuticsSalvaRx Ltd. | 1 | |
OROI | | OROI is a Barcelona-based developer of virtual reality therapeutic tools for elderly care professionals and nursing homes in Europe. The solutions include VR simulations for cognitive stimulation, fall prevention training, and reminiscence therapy. OROI collaborates with geriatric institutes to deploy headset-based programs since 2019. | Kaleido VR | 1 | |
Shimadzu |  | Shimadzu Corp is a Japan-based company engaged in the manufacture of precision instruments, measuring equipment, and medical devices. The firm operates in four segments: Aviation Equipment, Industrial Equipment, Measuring Equipment, Medical Equipment, and Others. It generates the majority of its revenue from the Measuring Equipment segment, which is engaged in the provision of X-ray television (TV) systems, angiography systems, X-ray imaging systems, and others. | TESCANAlsachim SAS | 1 | |
Axis Communications AB | | Axis Communications AB is a Lund-based global leader in network video surveillance and security solutions. The Swedish company pioneered IP cameras in 1996 and holds the top market position with products including dome, bullet, and thermal cameras integrated with analytics software. Axis serves over 400,000 partners worldwide and supplies systems to sectors like transportation, retail, and banking across 180 countries. | FF GROUPCognimatics2N TELEKOMUNIKACE+1 | 1 |
Public tech companies in the Czech Republic
Czechoslovak Group is the Czech Republic's largest publicly listed tech company, with a market cap of $22B.
See all public companies in the Czech Republic| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Czechoslovak Group | CSG NV is a defence group in terms of medium, large- and small-calibre ammunition sales based in Prague, Czech Republic, operating in Europe, the United States and in other regions including Asia Pacific. The Group's business is divided into two segments: CSG Defence Systems and CSG Ammo. | $21.74 | - | $22B | $26B | 3.2x | ||
Colt CZ Group | Colt CZ Group SE is engaged in the defense sector. The company is a producer of small firearms, firearms tactical accessories and ammunition for military and law enforcement, personal defense, hunting, sport shooting, and other commercial uses. | $50.84 | +43.8% | $3.2B | $3.6B | 2.9x | ||
Primoco UAV | Primoco UAV SE is engaged in developing and producing of unmanned aircraft. It also offers maintenance and Training services. The company sells its aircraft in Asia, the Middle East, Africa and South America. | $39.56 | +4.6% | $186M | $164M | 5.7x | ||
SAB Finance | SAB Finance AS is engaged in providing International Payment Solutions considering the foreign exchange fluctuations. Its platform allows to make outgoing payments and receive incoming payments. Some of the services offered by the company include Market Watch, Foreign Currency Analysis, Regular Payments, and Multi-Payments. | $50.77 | +2.3% | $155M | $162M | - | ||
E4U | E4U akciova spolocnost operates photovoltaic power plants. | $15.33 | -12.4% | $37M | $35M | - | ||
Bezvavlasy | Bezvavlasy AS is a online seller of hair cosmetics in Czech Republic. It is engaged in online sale of professional hair cosmetics for hairdressers and online sales of hair cosmetics products for retail clients. The Company offers a portfolio of 40 global brands of professional hair cosmetics such as Wella, L'Oréal, Schwarzkopf, Londa, Matrix, Goldwell and Olaplex. | $19.64 | -19.9% | $27M | $31M | - | ||
Pilulka Lekarny | Pilulka Lekarny AS operates an online pharmaceutical store by distribution of medicinal products. The store offers over-the-counter-drugs, dietary supplements, baby foods, mother care products, cosmetics, other prescription drugs, sport nutritional products, diagnostic test kits, orthopaedic supplies, first aid kits, and other related products. | $6.23 | -34.8% | $17M | $19M | - | ||
Hardwario | Hardwario provides configurable Internet-of-Things (IoT) devices, connectivity, and cloud services. Together, it successfully deploys IoT projects in manufacturing, agriculture, retail, healthcare, and facility management. The company's products and services include HARDWARIO CHESTER, HARDWARIO TOWER IoT kit, and HARDWARIO CLOUD IoT services. | $0.484 | -7.0% | $6.9M | $6.9M | - | ||
eMan | eMan AS is a provider of applications for smartphones, tablets, websites, cars, and other smart devices as well as more complex solutions. The company's services include Mobile Applications; Websites and Web Applications; Consulting Services; Integrated Solutions; Biometric and Electronic Signatures; Mobile Device Management; and Other Services. | $2.20 | -26.0% | $4.3M | $4.3M | - | ||
AtomTrace | AtomTrace AS provides technology that performs multi-elemental analysis of periodic table elements including those with low atomic weight. The company's products comprise LIBS Interaction Chamber, LIBS Sci-Trace, LIBS X-Trace, LIBS Application Setup, LIBS Software-AtomAnalyzer, and Digital Delay Generator. | $0.335 | -80.8% | $1.5M | $1.3M | - |
Why Flow Partners as your M&A advisor
Access to relevant buyers
We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.
No corporate red tape
We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.
Thorough preparation
KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.
Optimize value, not valuation
Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.
We provide M&A advisory services across the Czech Republic and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in the Czech Republic.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've closed sell-side and buy-side transactions across European, US and emerging-market tech.
Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
Recently completed M&A advisory projects
Selected M&A transactions and prior deal experience.
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