M&A advisory services in Greece
Greece is generating a growing pipeline of technology exits as the first wave of post-crisis startups reaches maturity, with increasing interest from PE firms and strategic buyers in HR tech, payments and marketplace software.
Beat's acquisition by FreeNow and the continued international expansion of Workable, Viva Wallet and Persado have introduced Greek tech M&A to a broad range of corporate development teams in Europe and the US.
Flow advises both bootstrapped and venture-backed Greek founders through their exit - bringing a strong network of PE and strategic acquirers, lean end-to-end deal execution and KPI-driven preparation that positions the business for the strongest possible outcome.
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Greece tech M&A deals in the last 12 months
$32M
Greece median tech M&A valuation
3.0x
Greece median tech M&A revenue multiple
$745M
Greece biggest tech acquisition in the last 12 months
Selling your tech company in Greece
Greek M&A follows European mid-market conventions with country-specific overlays around the participation exemption, the FDI screening regime and the GEMI filing requirements for share transfers.
Completion accounts and locked-box
Greek 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.
W&I insurance is growing
Warranty & indemnity insurance is becoming more common in Greek deals above roughly €15M. Premiums (around 1-1.5% of cover) typically split between buyer and seller.
FDI screening
Greek FDI screening (under EU Regulation 2019/452) requires notification of acquisitions by non-EU acquirers in Greek companies in sensitive sectors - defence, dual-use, AI, critical infrastructure. Adds notification time and conditions to scoped transactions.
Capital gains for founders
Greek individuals are taxed on share disposal gains at 15% (capital income flat rate). Holding-company structures used to defer or reshape the tax bill in some cases - worth planning ahead of a sale.
Corporate participation exemption
Sales of subsidiary shares by a Greek corporate seller can benefit from the participation exemption - typically requires 10%+ holding for two years and the subsidiary being a qualifying entity. Often drives whether a transaction is share or asset-structured.
Merger control
Hellenic Competition Commission (EA) reviews transactions where parties' combined Greek turnover exceeds EUR 150M and at least two parties each have EUR 15M+ Greek turnover. Most tech deals don't trigger.
Recently acquired tech companies in Greece
Biggest M&A recently in Greece was a $745M acquisition of Skroutz.gr by Blackstone in May 2026.
See all M&A deals in Greece| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
May-26 | Skroutz.gr | | Skroutz S.A. is an Athens-based e-commerce company operating Greece's leading product and price comparison platform at www.skroutz.gr, featuring offerings from over 3,500 online merchants and attracting more than 8 million monthly unique visitors. With a workforce exceeding 240 employees and annual revenues of €10.5 million, the firm has expanded to Turkey via www.alve.com and the UK through www.scrooge.co.uk. | Blackstone | $745M | 4.9x | |
Feb-26 | OTS | | OTS is a Greek IT firm developing enterprise software for public sector and private organizations, including systems for financial management, HR, payroll, scheduling, and document workflows. | Real Consulting | $56M | - | |
Feb-26 | interworks.cloud | | interworks.cloud is a cloud services provider offering cybersecurity solutions, hosting, and digital transformation support to businesses globally. | Climb Global Solutions | $9.4M | - | |
Jun-25 | Empedus | | Empedus is a Toronto-headquartered management consulting firm specializing in IT governance, cybersecurity, and enterprise systems implementation. The company advises financial institutions and corporations on COBIT frameworks, risk assessments, and ISO 27001 compliance, delivering audits, training, and managed security services across North America. | Qualco Group | $8.0M | 1.1x | |
May-26 | Irida Labs | | Irida Labs is a computer vision software developer based in Patras, Greece. Solutions apply image processing and ML techniques to CPUs, GPUs, DSPs, or combinations for computational photography and visual analytics in mobile devices, drones, surveillance, automotive, industrial, and robot vision markets. | Renesas Electronics | - | - | |
Jan-26 | C | CrediaBank (merchant acquiring unit) | | CrediaBank's merchant acquiring unit is a Greek payment processor handling card transactions, point-of-sale systems, onboarding, and settlements for retail and online merchants, now integrated into Euronet Worldwide's network. | Euronet Worldwide | - | - |
Dec-25 | SQLearn | | SQLearn is a Cyprus-based provider of e-learning solutions for maritime training, offering STCW-compliant courses with VR, gamification, and management tools for onboard and ashore use. | Mintra | - | - | |
Nov-25 | Payment Components | | PaymentComponents is a B2B software provider for open banking, supplying modular components to banks and fintech firms. The paymentcomponents.com solutions enable digital transformation through secure, interconnected tools for payments and financial services. | ACI Worldwide | - | - | |
Jun-25 | SoftCom International | | SoftCom International is a Slovenia-based software R&D firm founded in 1991 that develops embedded systems for automotive, telecom, and knowledge management. Headquartered in Ljubljana, it supplies middleware for vehicle telematics, 5G networks, and semantic search engines to clients like Renault and telecom operators in Europe. | TAO Digital Solutions | - | - | |
May-25 | CompassAir | | CompassAir is a Singapore-based developer of maritime software for ship management and compliance. Its platform tracks vessel performance, fuel consumption, and regulatory reporting under ISM, ISPS, and MARPOL standards. The company integrates IoT sensors for real-time engine data and crew scheduling. Launched in 2015, CompassAir serves shipowners in Asia-Pacific with cloud-based dashboards accessible via mobile apps. | Sedna | - | - |
Who is buying tech companies in Greece?
Sedna, TAO Digital Solutions and ACI Worldwide are the most active acquirers in Greece.
See all acquirers in Greece| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Sedna | | Sedna is a Singapore-headquartered digital platform comprising Stream for communications and Pulse for analytics, tailored to shipping and logistics firms. It integrates with ERP systems to track vessels, optimize routes, and predict disruptions across Asia-Pacific trade lanes. Founded in 2021, Sedna equips operators handling container fleets in key ports like Singapore and Rotterdam. | CompassAirFlyttaNordic IT+1 | 1 | |
TAO Digital Solutions | | TAO Digital Solutions is a technology services provider headquartered in India serving global enterprises. It specializes in product engineering, cybersecurity, and payment gateways for e-commerce platforms. The firm delivers managed cloud services and DevOps for clients in banking and retail across North America and Europe. | SoftCom InternationalTriGeo Technologies | 1 | |
ACI Worldwide | | ACI Worldwide Inc develops, markets and installs a portfolio of software products focused on facilitating electronic payments. The firm also leverages its distribution network in the Americas; Europe, the Middle East, and Africa, or EMEA; and Asia-Pacific regions to sell software developed by third parties. ACI software products process payment transactions for retail banking clients, billers such as utilities and healthcare providers, and community banks and credit unions. ACI's customers are financial institutions all over the world, but majority of the revenue is generated in the United States and EMEA regions. | Payment Components | 1 | |
Renesas Electronics |  | Headquartered in Tokyo, Japan, Renesas Electronics Corp is an integrated device manufacturer, or IDM, selling semiconductors including microcontrollers, systems on chips, and other analog chips. The company was a combination of parts of the electronics businesses of Hitachi, Mitsubishi, NEC Electronics. Renesas’ manufacturing sites are located in Japan, China, and Malaysia. It employed 21,907 people as of June 30, 2025. | Irida LabsAltiumTransphorm+1 | 1 | |
Blackstone | | Blackstone is the world's largest alternative-asset manager with $1.242 trillion in total asset under management, including $906.2 billion in fee-earning assets under management, at the end of September 2025. The company operates with scale in each of its major product lines: private equity (26% of fee-earning AUM and 33% of base management fees), real estate/real assets (31% and 35%), private credit (34% and 25%), and other alternatives (9% and 7%). While the firm primarily serves institutional investors (84% of AUM), it also caters to clients in the high-net-worth channel (16%). Blackstone operates through 25 offices in the Americas (8), Europe and the Middle East (9), and the Asia-Pacific region (8). | Skroutz.grRoyal Challengers BengaluruAdvanced Cooling Technologies+1 | 1 | |
Climb Global Solutions | | Climb Global Solutions Inc is a cloud-based, value-added IT distribution and solutions company specializing in emerging technologies. It operates across the USA, Canada, and Europe through multiple business units, including Climb Channel Solutions, Sigma, Grey Matter, Interwork, and TechXtend. The company is organized into two reportable operating segments. The Distribution segment distributes technical software to corporate resellers, value-added resellers (VARs), consultants, and systems integrators under the name Climb Channel Solutions. The Solutions segment is a cloud solutions provider and value-added reseller of software, hardware, and services to customers under the name Grey Matter. | interworks.cloudDouglas Stewart Software & ServicesData Solutions | 1 | |
Euronet Worldwide | | Euronet Worldwide Inc is a provider of electronic financial transaction solutions. It offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers. The company's product offerings include comprehensive ATM, POS, card outsourcing, card issuing and merchant acquiring services, software solutions, money transfer services, etc. Its reportable operating segments are EFT Processing, epay, and Money Transfer. Maximum revenue is derived from its Money Transfer segment, which provides money transfer services across the world under the brand names Ria, AFEX, IME, and xe. Geographically, the company generates maximum revenue from the United States, followed by Germany, India, France, Greece, and other regions. | CrediaBank (merchant acquiring unit)PayNoPainCoreCard Software+1 | 1 | |
Mintra | | Mintra is a Bergen-headquartered provider of digital training and HCM software for energy and maritime sectors. Founded in 1997 in Oslo, Norway, it serves 3,600 companies including four of the top five global energy firms from offices in Aberdeen, Dubai, Singapore, and Limassol. Employing 140 specialists, its solutions train millions in safety compliance worldwide. | SQLearnMoxie MediaSafebridge+1 | 1 | |
Real Consulting | | Real Consulting SA operates in the domain of development, processing, installation, distribution and marketing of software systems and programs, as well as in providing integrated IT solutions and distribution of networking products. Its operating segments include Large Enterprises, and Small and Medium Enterprises. | OTSAdvanced Management Solutions | 1 | |
Qualco Group | | Qualco Group SA is a software and technology solutions provider, specializing in operational platforms, data-driven insights and customized digital experiences. Its portfolio includes technology and technology-enabled solutions across receivables management, credit/lending management, analytics, digital transformation and real estate. The company provides credit and lending management software solutions, including debt management, loan origination and administration, supply chain finance, asset-backed securities solutions and E2E platforms that automate and enable digital financial services. Its offerings include technology-driven credit portfolio underwriting and innovative debt collection and recovery strategies. | Empedus | 1 |
Public tech companies in Greece
Allwyn is Greece's largest publicly listed tech company, with a market cap of $11B.
See all public companies in Greece| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Allwyn | Allwyn AG, formerly known as OPAP Holding SA, is a gambling company that operates lotteries and sports betting, including horse races. The company is the exclusive gambling provider in Greece. The firm is organized into segments based on the type of game: Lotteries, Betting, Online betting, Other online games, Instant and Passives, VLTs, Telecommunication and eMoney services. It generates the majority of its revenue from the Lotteries segment. The gaming services are provided either online or through physical retailers. The company generates the vast majority of its revenue in Greece. | $14.15 | -35.2% | $11B | $12B | 2.5x | ||
OPAP Holding | OPAP Holding SA, formerly known as Greek Organisation of Football Prognostics SA, is a gambling company that operates lotteries and sports betting, including horse races. The company is the exclusive gambling provider in Greece. The firm is organized into segments based on the type of game: Lotteries, Betting, Online betting, other online games, instant and passive, Vlts, Telecom and emoney services and others. The gaming services are provided either online or through physical retailers. The company generates the vast majority of its revenue in Greece. | $16.82 | -23.1% | $6.0B | $6.6B | 1.4x | ||
Bally's Intralot | Ballys Intralot SA is a iGaming operator and a world-wide provider of lottery solutions. The company enables operators to modernize their retail and digital offerings, deliver personalized and responsible player experiences, and operate with greater agility and efficiency in an increasingly converging gaming ecosystem. Its products and services include: B2C operations, Gambling Solutions, Betting Solutions, Lottery Solution and Digital Transformation. | $1.30 | - | $2.4B | $4.2B | 3.2x | ||
Quest Holdings | Quest Holdings SA, together with its subsidiaries, engages in diversified business. It operates through four business segments: Commercial activities, Information technology services, Postal services, and Production of electric power from renewable energy sources. The vast majority of its revenue comes from the Commercial activities segment, which Includes sales of products, mostly IT-related, such as IT equipment, Apple and Xiaomi mobile phone devices, air conditioning devices, and other home appliances. The company's geographical segments are Greece, the Eurozone, European countries out of the Eurozone, and Other countries. | $8.29 | +3.2% | $877M | $825M | - | ||
Qualco Group | Qualco Group SA is a software and technology solutions provider, specializing in operational platforms, data-driven insights and customized digital experiences. Its portfolio includes technology and technology-enabled solutions across receivables management, credit/lending management, analytics, digital transformation and real estate. The company provides credit and lending management software solutions, including debt management, loan origination and administration, supply chain finance, asset-backed securities solutions and E2E platforms that automate and enable digital financial services. Its offerings include technology-driven credit portfolio underwriting and innovative debt collection and recovery strategies. | $6.58 | -4.0% | $461M | $499M | 1.9x | ||
Real Consulting | Real Consulting SA operates in the domain of development, processing, installation, distribution and marketing of software systems and programs, as well as in providing integrated IT solutions and distribution of networking products. Its operating segments include Large Enterprises, and Small and Medium Enterprises. | $7.23 | +27.4% | $219M | $220M | - | ||
Profile Software | Profile Systems & Software SA is a software company developing solutions for the international financial sector, business sector and the public sector. Its products include Axia, IMSplus, FMS.next, FMS.next Payments, RiskAvert, Native Wealth Management Mobile App, GS Market Suite, Plexus, Registry and Nowen-net. The company offers services in the field of Investment Management, Banking, Risk and Compliance, Capital Markets and Marketplace Lending in Europe, Middle East Asia, America and Africa. | $8.42 | +18.6% | $207M | $190M | - | ||
Performance Technologies | Performance Technologies SA designs and delivers fast, flexible and dynamic IT architectures that align with the business needs and priorities. The company delivers IT solutions for Virtualization, Private and Public Cloud, Systems Infrastructure, Storage Systems, Backup Software, Security Solutions, Data Protection, Data Replication, Disaster Recovery, IT consolidation/transformation/re-platforming, IT Systems & Service Management, IT Automation, Enterprise Asset Management, Business Process Management, Mobile Device Management and Mobile Engagement. | $10.70 | +55.0% | $150M | $138M | 1.2x | ||
Dotsoft | Dotsoft SA is one of the most innovative and pioneering IT and communications companies. The main objective of the company is to strengthen its competitiveness in the ICT sector and in particular in the services and integrated solutions that will be provided through the new diffusion channels of the internet. The company offers the following solutions to the Greek and International market which includes e-business, e-government & mobile government, digi-culture, e-tourism and Smart and Sustainable cities. | $32.55 | +61.2% | $102M | $102M | - | ||
Ilyda | Ilyda SA is engaged in the business of designing, developing and distributing software applications. The Company's main products include enterprise resource planning systems and software, Business Suite MegaTron ERP, Dioscourides Smart, Dioscourides Xpress, Dioscourides ERP Retail System and KiniTron Smart ERP. Its services include Design & Implementation of Projects, Software Support, User Education and Consultant agency. | $4.70 | +43.5% | $66M | $59M | - | ||
Quality and Reliability | Quality and Reliability SA is engaged in software development and in the provision of integration services for information systems. The company delivers complex Integrated Information Systems for large and mid-size enterprises in the public and private sectors, cutting-edge technology solutions for Financial Institutions, Enterprise web Portals, white label e-Bookstore platforms & label e-commerce solutions, cross-platform Mobile Applications and multi-platform eBook interactive educational authoring tools. | $1.41 | +8.3% | $50M | $54M | - | ||
Space Hellas | Space Hellas R is principally engaged in the business of Telecommunications, IT, Security Systems & Services. The company has three main segments are namely Telecommunications, IT, Security Systems & Services. The company is based in Greece. Approximately 70% revenues derived from Telecommunications and IT sectors. Geographically it operates through the region of Greece. Approximately 70% revenues derived from Telecommunications and IT. | $7.56 | +3.9% | $49M | $123M | - | ||
SOFTWeb - Adaptive IT | SOFTWeb - Adaptive IT Solutions SA is engaged in web & mobile application development. | $3.78 | +85.5% | $23M | $23M | - | ||
Neurosoft | Neurosoft SA is a software company. It designs, develops, customizes, and provides maintenance of integrated software systems for its business areas including Fintech and Analytics, System Engineering and Cyber Security Operations. The group operates under three business segments Cyber Security Operations, Field Services Operations and Infrastructure & Cloud Operations. | $0.668 | -24.8% | $17M | $18M | - | ||
Logismos Information | Logismos Information Systems SA offers information technology services. The company develops and supports business software based on its ERP & software applications for Casino Management Systems. It is also active in the field of Systems Integration. | $2.46 | +25.6% | $12M | $12M | - |
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 Greece and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in Greece.
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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