Total disclosed deal value reached $4.9B through September 2024, aided by a megadeal, significantly above levels seen in 2023. Buyers preferred to keep their M&A strategies private as only 11% of deals announced their transaction values.

During the first nine months of 2024 there were 194 M&A deals in the Blue Collar Software sector, above the 10-year high achieved in 2023. Both financial and strategic buyers were eager to pursue acquisitions in this space as PE firms were the buyers in 25% of these transactions.

During the first nine months of 2024, the strategic buyer Ever.Ag acquired 4 Blue Collar Tech enterprises, making it the most active acquirer in this space. The strategic firms Husqvarna Group and Portside, as well as PE firm LEA Partners, all purchased 2 Blue Collar Software firms during this period.

After peaking in 2021, VC funding for Blue Collar Tech firms continued to dry up through the first three quarters of 2024. The median VC investment was $3.3M, well below the median disclosed M&A transaction value. Companies have instead been encouraged to pursue M&A strategies for growth and liquidity.