M&A advisory for network management companies
Network management software M&A has been driven by the SD-WAN to SASE consolidation and the convergence of networking and security. Strategic acquirers at the major networking and security platforms and PE platforms running networking-software roll-ups are the most active buyers. Deals price on enterprise contracting, deployment footprint and hardware-software separability.
Active strategic buyers include Cisco, Palo Alto Networks, Fortinet, HPE and the other networking and security platform majors, alongside PE platforms running networking-software roll-ups. Flow has direct access to the networking strategic acquirers and PE platforms that are active buyers in this category.
Flow team has relevant sector experience and has worked with network management companies across SD-WAN and SASE, network monitoring and performance management, network configuration and automation, wireless and Wi-Fi management, and DDI and network services.
"Network management" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing network management M&A targets
ARR
Net retention
Devices / sites under management
Hardware revenue
Hardware gross margin
Software gross margin
Enterprise customer count
Renewal rate
Module attach
CAC payback
Network management valuations in May 2026
Public network management comps trade at 2.5x EV/Revenue. Median revenue multiple across network management M&A deals was 3.8x in the last 12 months.
2.5x
Median EV/Revenue as of May 2026 for public network management companies
4.4x
IBM is the highest valued public network management company based on EV/Revenue (excluding outliers)
3.8x
Median EV/Revenue across network management M&A deals in the last 12 months
16x
Median EV/Revenue across network management VC rounds in the last 12 months
Key recent network management M&A deals
$2.9B acquisition of CSG Systems by NEC was the largest network management M&A transaction completed in the last year.
See all network management M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Oct-25 | CSG Systems |  | CSG Systems International Inc is a purpose-driven, SaaS platform company that enables companies in a wide variety of industry verticals to tackle the growing complexity of business in the digital age. The company's cloud-first architecture and customer-centric approach empower companies to deliver unforgettable experiences for B2B (business-to-business), B2C (business-to-consumer), and B2B2X (business-to-business-to-consumer) customers, making it easier for people and businesses to connect to, use and pay for the services the company offers. The company operates in one segment i.e. Solutions and Services. Geographically, it generates revenue from the United States. | NEC | $2.9B | 2.4x | |
Mar-26 | Ookla | | Ookla is a Seattle-headquartered leader in network performance intelligence, powering Speedtest for over 10 million daily global tests. The platform delivers metrics on broadband speeds, mobile data quality, and latency across 190 countries. Ookla's Downdetector monitors outages for services like Netflix and AWS in real-time. With offices in Memphis and Dublin, the company supplies data to operators including Verizon and governments for infrastructure planning since its 2006 founding. | Accenture | $1.2B | 5.2x | |
Jul-25 | VeloCloud | | VeloCloud Networks is a Mountain View-headquartered developer of cloud-delivered SD-WAN solutions now integrated into VMware's portfolio. The platform automates branch networking over broadband internet, MPLS, and LTE with features like zero-touch provisioning, application optimization, and multi-cloud connectivity. VeloCloud supports distributed enterprises with virtual network functions, centralized orchestration, and secure access to SaaS and IaaS applications. | Arista Networks | $1.0B | - | |
Jul-25 | NetBrain Technologies | | - | Blackstone | $750M | 7.9x | |
May-26 | Alkira | | Alkira is a San Jose-headquartered cloud networking company delivering multi-cloud connectivity as a service. The firm enables enterprises to deploy hybrid networks spanning AWS, Azure, and Google Cloud with integrated security from Palo Alto Networks and Zscaler. Founded in 2018, Alkira's Network Cloud Platform provisions global infrastructure in minutes, serving Fortune 100 companies and service providers. | Lumen | $475M | - | |
Dec-25 | Catchpoint | | Catchpoint is a New York-headquartered leader in digital experience observability, providing visibility into end-user performance for Fortune 500 enterprises through its platform that detects and resolves issues impacting web and application experiences. | LogicMonitor | $250M | - | |
Dec-25 | HPE (telco solutions unit) | | HPE telco solutions unit supplies telecom software encompassing OSS assurance, Home Subscriber Server, 5G Subscriber Data Management, and AI-driven network automation. | HCLTech | $160M | - | |
Dec-25 | vCom Solutions | | vCom Solutions is a Telecom Management as a Service provider offering cloud-based software for inventory control, expense management, carrier relations, and business intelligence to enterprises. | AppDirect | $100M | - | |
May-26 | Superior Fiber & Data Services | | Superior Fiber & Data Services designs, installs, and maintains network infrastructure. The company helps clients achieve high performance and reduce failure risks. | Hexatronic Group | $29M | 0.7x | |
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 | - | |
Mar-26 | ASG 365 | | ASG 365 has delivered computer and network solutions to small and medium businesses in Western New York since 2000. The firm provides managed services, Office 365 migrations, and support for workstations, servers, and tablets. | ITPartners+ | - | - | |
Feb-26 | Big Network | | Big Network is a connectivity platform that enables secure, straightforward integration of people, locations, cloud environments, and devices globally. It facilitates reliable data flows and network management for diverse applications, emphasizing simplicity and robust security protocols. | Contrivian | - | - | |
Feb-26 | IPacket Networks | | IPacket Networks is a managed Wi-Fi provider serving commercial and high-density residential markets with network infrastructure, surveillance cameras, and VoIP telephony. Its software-driven approach ensures scalable, monitored deployments. | SecureVison | - | - | |
Feb-26 | Adaptiv Networks |  | Adaptiv Networks is a cloud connectivity provider offering managed SD-WAN services through a global partner network. It enables businesses to achieve secure, scalable connections to cloud applications, supporting digital transformation with features like traffic optimization, failover redundancy, and zero-touch provisioning. Headquartered in the UK, the company serves enterprises across industries with deployment in over 100 countries. | Scale Computing | - | - | |
Jan-26 | N | Navee Technology |  | Navee Technology delivers satellite communications, network management, TV broadcasting, cybersecurity, and equipment supply services. | Pulsar International | - | - |
Most active buyers of network management companies
Cisco, BlueCat and Contrivian are the most active acquirers of network management companies in the last three years.
See all network management acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Cisco | | Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software such as firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff—25,000 strong across 90 countries. Overall, Cisco employs 80,000 people and sells its products globally. | IsovalentSamKnowsCode BGP+2 | 4 | |
BlueCat | | BlueCat is a provider of DNS, DHCP, and IP address management platforms designed for hybrid cloud infrastructures. Its Adaptive DNS and integrity solutions secure network services for enterprises, government agencies, and telecom providers handling complex environments like IoT deployments, virtualization, and software-defined networking. Headquartered in Aurora, Ontario, Canada, BlueCat supports network scalability amid consolidation and modernization efforts across North America and Europe. The company enables reliable connectivity for devices, virtual machines, and applications in dynamic networks. | LiveActionIndeniMen&Mice | 2 | |
Contrivian | | Contrivian is a telecommunications provider delivering enterprise connectivity, high-speed internet access, and managed network services to businesses. It focuses on reliable infrastructure for data centers and large-scale operations. | Big Network | 1 | |
Univerus | | Univerus is a Vancouver-headquartered Canadian holding company formed in 2019 that acquires and invests in vertical software providers. It supports brands serving sectors like public safety, recreation, and government with SaaS platforms used by hundreds of organizations worldwide. The portfolio includes established products with over a decade of market presence and global customer bases. | Capital NetworksTangicloudVarasset+1 | 1 | |
White Label Communications | | White Label Communications is a provider of white-label unified communications as a service, communications platform as a service, and contact center as a service solutions tailored for resellers and service providers. The company delivers scalable VoIP telephony, video conferencing, messaging, and omnichannel contact center features through customizable platforms. Headquartered in the United States, it supports global deployments with API integrations for rapid branding and launch. White Label Communications serves telecom operators and IT providers seeking to expand their portfolios without building infrastructure from scratch. | IntelitrexGrupo NGN | 1 | |
Accenture | | Accenture is a leading IT services firm that provides consulting, system integration, and business process outsourcing to enterprises around the world. Customers of Accenture come from a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture is the world's largest professional services company by headcount with around 800,000 employees in over 120 countries. | OoklaKeepler Data TechAvanseus Holdings+1 | 1 | |
ITPartners+ | | ITPartners+ delivers managed and co-managed IT services for technology operations. Services cover IT support, infrastructure management, cybersecurity, cloud solutions, and compliance. | ASG 365 | 1 | |
Saothair Capital Partners | | Saothair Capital Partners is a Boston-headquartered private equity firm targeting lower-middle-market manufacturers in industrial sectors like aerospace components and metal fabrication. Since 2015, it has completed over 15 investments with transaction values between 20 and 100 million dollars, holding companies in the Midwest and Southeast United States. | GatesAirApollo AmericaT Bailey+1 | 1 | |
Lumen | | Lumen Technologies is one of the largest telecommunications carriers serving global enterprises. The merger with Level 3 in 2017, the 2022 divestiture of much of its local phone business in rural areas, and the 2026 sale of its remaining consumer fiber network to AT&T have shifted the company’s operations away from the legacy consumer business and toward enterprises services, which account for about 90% of revenue. Lumen offers businesses a full suite of communications services, providing colocation and data center services, data transportation, phone service, and internet access. | AlkiraStreamrootSEAL Consulting+1 | 1 | |
ITRS Group |  | ITRS Group is a monitoring and risk management software provider for financial markets since 1997. London-headquartered with offices in New York and Hong Kong, the firm delivers Geneos for real-time visibility into trading systems, middleware, and execution venues. ITRS supports banks, brokers, exchanges, and hedge funds with predictive alerts and latency analysis. | IP LabelOpsviewUptrends+1 | 1 |
Founders and investors we've worked with
We've supported winning builders across network 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.
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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.
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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.
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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.
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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
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