M&A advisory for IT operations management companies
IT operations management M&A is dominated by strategic consolidation at the major platforms - ServiceNow, BMC, Atlassian and the endpoint management majors - and PE platforms running ITSM and IT operations roll-ups. Deals price on enterprise ARR, module attach and multi-year renewal durability.
The most active strategic buyers are ServiceNow, BMC, Atlassian and the endpoint management majors, alongside PE platforms running ITSM and IT operations roll-ups across enterprise IT software. Flow has direct access to the IT operations strategic acquirers and enterprise PE platforms that drive deal activity in this category.
Flow team has relevant sector experience and has worked with IT operations management companies across ITSM, monitoring and observability for enterprise IT, IT asset management, endpoint management and configuration, and AIOps and automation.
"IT operations management" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing IT operations management M&A targets
ARR
Net retention
Enterprise logo count
Module attach
Multi-year contract mix
ARPU per customer
Renewal rate
Services share
Gross margin
CAC payback
IT operations management valuations in May 2026
Public IT operations management comps trade at 2.5x EV/Revenue. Median revenue multiple across IT operations management M&A deals was 17x in the last 12 months.
2.5x
Median EV/Revenue as of May 2026 for public IT operations management companies
7.5x
ServiceNow is the highest valued public IT operations management company based on EV/Revenue (excluding outliers)
17x
Median EV/Revenue across IT operations management M&A deals in the last 12 months
4.2x
Median EV/Revenue across IT operations management VC rounds in the last 12 months
Key recent IT operations management M&A deals
$5.9B acquisition of Nexthink by Vista Equity Partners was the largest IT operations management M&A transaction completed in the last year.
See all IT operations management M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Oct-25 | Nexthink |  | Nexthink is a Lausanne-headquartered leader in digital employee experience management, deploying SaaS analytics across endpoints for enterprises like Airbus and General Mills. The platform monitors device performance, application responsiveness, and user sentiment in real time, enabling IT remediation via automation scripts. Publicly listed on Nasdaq since 2023, Nexthink processes trillions of IT events daily from Fortune 500 deployments. | Vista Equity Partners | $5.9B | 17x | |
Nov-25 | Chronosphere |  | Chronosphere is an observability platform for cloud-native environments, enabling DevOps teams to monitor metrics, traces, and logs at petabyte scale. San Francisco-headquartered since 2020, it serves clients like DoorDash, Snap, and Zillow, reducing infrastructure costs by up to 50% through hosted Prometheus and custom querying. The platform processes trillions of data points daily across AWS, GCP, and Azure, supporting thousands of engineering teams globally. | Palo Alto Networks | $3.4B | 21x | |
Oct-25 | Jamf | | Jamf is a Minneapolis-headquartered software provider specializing in Apple device management and security solutions. Jamf Pro enables IT administrators to deploy, configure, and monitor Macs, iPads, iPhones, and Apple TVs in enterprise environments. Complementary products include Jamf Protect for endpoint threat detection, Jamf Connect for identity management with Okta and Azure AD integration, and Jamf Nation for community resources. The company supports organizations in business, education, and government sectors worldwide. | Francisco Partners | $2.2B | 3.2x | |
Jul-25 | NetBrain Technologies | | - | Blackstone | $750M | 7.9x | |
Apr-26 | Bindplane | | Bindplane is an observability platform delivering agent-based data collection and visualization tools. As a contributor to the OpenTelemetry project, it supports metrics, logs, and traces for cloud-native environments used by enterprises and open-source communities. | Dynatrace | $256M | - | |
May-26 | LayerX |  | LayerX is a Tel Aviv-headquartered browser security platform monitoring web activities in real-time. The solution enforces policies on Shadow IT, phishing, and data exfiltration across unmanaged browsers. Deployed by enterprises with over 100,000 endpoints, it integrates with Microsoft Intune and Chrome Enterprise. Founded in 2020, LayerX raised $19 million in Series A funding. Clients in finance and government sectors use its AI-driven risk scoring for compliance with GDPR and SOC 2. | Akamai | $205M | 21x | |
Sep-25 | DevOcean | | DevOcean is a security platform that automates vulnerability prioritization and remediation across teams and assets. Tel Aviv-based, it consolidates findings from scanners like Qualys and Tenable, assigning risk scores based on exploitability and business impact. DevOcean integrates with Jira and Slack for streamlined fix workflows, reducing mean time to resolution in cloud environments like Kubernetes and AWS EC2. The tool serves DevSecOps teams in tech companies. | Pentera | $30M | - | |
Feb-26 | MightyID | | MightyID provides identity and access management solutions emphasizing data backup, recovery, and migration across identity providers, ensuring business continuity during transitions and outages. | Semperis | $20M | - | |
Mar-26 | MySky Networks |  | MySky Networks offers managed network operations, infrastructure, and software services including guest WiFi analytics, people counters for venues like malls and hotels, and cloud-based VoIP solutions. | iOCO | $3.2M | - | |
Apr-26 | NS12 |  | NS12 delivers IT services, designing and implementing ICT solutions in Java and Microsoft technologies. The firm aids companies with employee training to address market demands. | All Things Mobile | - | - | |
Apr-26 | L | Logline | Logline delivers ultra-fast, cost-effective log search for observability stacks like Loki. | Grafana Labs | - | - | |
Apr-26 | Bravas |  | Bravas equips SMBs and startups to manage and secure IT fleets, users, accounts, and licenses without IT expertise. Employees access a seamless experience while administrators benefit from ease of use in one solution. Bravas, founded in 2021, raised funds from a family office, investor club, and IT business angels. | Remote | - | - | |
Mar-26 | Shreveport Communications | | Shreveport Communications provides device management, equipment repair, maintenance contracts, FCC licensing, and mobile installation services. | Mobile Communications America | - | - | |
Mar-26 | BetterCloud | | BetterCloud is a New York-headquartered SaaS management platform automating user provisioning and security for over 200 applications. The tool serves 2,000 enterprises including Unilever and Fox, reducing IT tickets by 90 percent. Founded in 2010, it processes billions of workflow actions annually. | CoreStack Inc | - | - | |
Mar-26 | TSPD Group |  | TSPD Group centers on IT lifecycle management and circular economy practices. | VTC Industriebeteiligungen | - | - |
Most active buyers of IT operations management companies
Francisco Partners, NVIDIA and Dynatrace are the most active acquirers of IT operations management companies in the last three years.
See all IT operations management acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Francisco Partners | | Francisco Partners is a San Francisco-headquartered private equity firm specializing in technology and technology-enabled companies. Established in 1999, it targets control-oriented investments in businesses at strategic, technological, or operational turning points across software, hardware, and services sectors. The firm supports portfolio companies worldwide through offices in New York and London, with holdings that have included GoodRx, Redis Labs, and Sumo Logic. Francisco Partners focuses on transactions in private companies navigating growth phases in North America, Europe, and Asia. | JamfBlancco OyBlackline Safety+2 | 2 | |
NVIDIA | | Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence to run large language models. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads. | SchedMDShoreline.ioillumex+1 | 2 | |
Dynatrace | | Dynatrace is a software-as-a-service company that enables customers to monitor and analyze their information technology infrastructure, from servers to applications and Python scripts. Dynatrace’s unified platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to optimize their business for service-level objectives and ensure uptime. | BindplaneRookoutDevCycle+1 | 2 | |
Freshworks | | Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks. It offers solutions that serve the needs of users in the CS and ITSM categories and has also expanded its offering with Sales and Marketing automation products. These product offerings enable organizations to acquire, engage, and serve their customers and employees. The group derives revenue from North America, Europe, the Middle East and Africa, Asia Pacific, and Other regions. | FireHydrantDevice42Flint | 2 | |
Virtana | | Virtana is a Raleigh-headquartered platform optimizing hybrid cloud infrastructures for enterprises. Its tools analyze application dependencies, forecast costs, and automate migrations across AWS, Azure, and on-premises environments. Virtana serves Fortune 500 clients in finance and healthcare, including Barclays and Pfizer, to reduce cloud spend by identifying inefficiencies. Acquired by NTT Data in 2022, it operates globally from North America and Europe. | ZenossOpsCruise | 2 | |
Dataprise | | - | Hooks Systems TechnologyPEI360IT Partners+1 | 2 | |
Thoma Bravo | | Thoma Bravo is a Chicago-headquartered private equity firm focusing on software and cybersecurity investments with over $30 billion in committed capital. Founded in 1980, it has completed more than 400 transactions, pioneering buy-and-build strategies in enterprise software. The firm owns companies like Qlik, ConnectWise, and Darktrace, operating 17 offices globally including London and Sydney. | SecureWorksUSU Product BusinessWWEX Group+2 | 2 | |
KKR | | KKR is one of the world's largest alternative asset managers, with $723.2 billion in total managed assets, including $585.0 billion in fee-earning AUM, at the end of September 2025. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). | DatagroupOmnissaNothing Bundt Cakes+2 | 2 | |
Snowflake | | Founded in 2012, Snowflake is a fully managed platform that consolidates data hosted on different public clouds for centralized analytics and governance. Snowflake’s cloud-native architecture allows users to independently scale the compute and storage layers, providing customers with optimized performance at lower costs. The company’s data lake and data warehouse products support a variety of use cases, including business analytics, data engineering, and artificial intelligence. Snowflake is widely used by Fortune 2000 companies in financial services, media, and retail sectors. | ObserveSelect StarDatometry+1 | 1 | |
Semperis | | Semperis is a Hoboken, New Jersey-headquartered enterprise identity protection company founded in 2014. Its directory services platform safeguards Active Directory, on-premises, and cloud environments against changes and disasters. Capabilities include automatic forest restoration, rapid recovery of thousands of objects or single attributes, and instant reversion to prior states. Customers span Fortune 500 firms in finance, healthcare, government, and other sectors worldwide. | MightyID | 1 |
Founders and investors we've worked with
We've supported winning builders across IT operations management and beyond.
MAILINGWORK
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.
See more
TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
See more
Resillion
We provided buy-side advice to a dominant TIC industry player on the carve-out and acquisition of Resillion (fka Eurofins Digital Testing), a Hasselt-based digital testing, cybersecurity and forensics provider.
See more
Digital Asset Management Software Provider
We provided buy-side advice to Byron Capital Partners on its acquisition of a leading European digital asset management (DAM) software platform.
See more
Boryszew
We provided buy-side advice to Boryszew, a Warsaw-listed diversified industrial group across automotive, metals and chemicals, on industrial software market mapping and target screening for its buy-and-build strategy.
See moreRecent M&A advisory track record
See our M&A advisory experience across IT operations management and beyond.
Explore our M&A advisory offering for similar verticals
We're a specialized M&A advisor to software companies.
Our M&A experience spans across all software verticals.
Explore other sectors
We know tech inside & out.
We provide M&A advisory services to companies operating across the entire tech.
More services
M&A is the ultimate goal, but we play a long game. We're your fractional CFO to help you build financial discipline, and advise you on raising growth capital.
Fractional CFO for IT operations management companies
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
Learn moreVC fundraising for IT operations management companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreTalk to us
Schedule a call to get a health check on your business and see how we could help.
Fractional CFO
- Fractional CFO for Software
- Fractional CFO for AI & ML
- Fractional CFO for Fintech
- Fractional CFO for Consumer internet
- Fractional CFO for Digital media
- Fractional CFO for E-commerce & marketplaces
- Fractional CFO for Consumer products
- Fractional CFO for Mobility
- Fractional CFO for Digital health
- Fractional CFO for Industrial technology
- Fractional CFO for Digital infrastructure
- Fractional CFO for IT services
Stages
Countries
- UK Fractional CFO
- Ireland Fractional CFO
- France Fractional CFO
- Germany Fractional CFO
- Spain Fractional CFO
- Portugal Fractional CFO
- Italy Fractional CFO
- Netherlands Fractional CFO
- Belgium Fractional CFO
- Switzerland Fractional CFO
- Austria Fractional CFO
- Denmark Fractional CFO
- Sweden Fractional CFO
- Norway Fractional CFO
- Finland Fractional CFO
- Poland Fractional CFO
- Estonia Fractional CFO
- US Fractional CFO
- Canada Fractional CFO
- Mexico Fractional CFO
- Brazil Fractional CFO
- UAE Fractional CFO
- Australia Fractional CFO
Cities
- London Fractional CFO
- Dublin Fractional CFO
- Paris Fractional CFO
- Berlin Fractional CFO
- Madrid Fractional CFO
- Lisbon Fractional CFO
- Milan Fractional CFO
- Amsterdam Fractional CFO
- Brussels Fractional CFO
- Zurich Fractional CFO
- Vienna Fractional CFO
- Copenhagen Fractional CFO
- Stockholm Fractional CFO
- Oslo Fractional CFO
- Helsinki Fractional CFO
- Warsaw Fractional CFO
- Tallinn Fractional CFO
- New York Fractional CFO
- Toronto Fractional CFO
- Mexico City Fractional CFO
- São Paulo Fractional CFO
- Dubai Fractional CFO
- Sydney Fractional CFO