Acquiry research
Research
Valuation multiples, market reports and underwriting research for buyers and sellers of digital businesses, built from disclosed transactions.
20 published pieces
Latest · Research · Cross-sector
The 2026 EBITDA Add-Back Standard: 20 adjustments and how buyers treat them
Every seller adjusts EBITDA. Every buyer's quality of earnings team unpicks it. This is the reference table we use on live mandates: 20 common add-backs, the evidence that gets each one accepted, and where the line sits.
Research
Research · Research
Deal Structure Playbook
Market benchmarks for earnouts, rollovers, seller notes, and working capital adjustments in digital asset M&A.
Research · Research
Buyer Underwriting Checklist
A structured checklist for pre-LOI, commercial, technical, and legal diligence on digital asset acquisitions.
Research · Research
Deal Team Operating Model
Our repeatable process architecture for executing buy-side and sell-side mandates from intake to close.
Research · Research
International Deal Structuring Notes
High-level notes on M&A mechanics in key global markets for digital assets.
Research · Research
Platform Concentration Risk
Scoring and mitigating dependency on major platforms in digital asset M&A.
Research · Research
Quality of Revenue Framework
An institutional framework for scoring revenue quality in digital asset transactions.
Research · Research
Empirical Studies on the Discount for Lack of Marketability (DLOM)
A comprehensive review of the restricted stock and pre-IPO studies that form the empirical foundation for marketability discounts in private company valuation.
SaaS
Research · SaaS
Bending Spoons Is Building One of Software’s Most Ambitious Acquisition Platforms
Acquiry examines how Bending Spoons combines high-velocity M&A, deep operational transformation and permanent ownership to build a rapidly compounding global software portfolio.
Research · SaaS
Redacted Case Studies
Anonymised summaries of completed transactions. Identifying details have been removed.
Research · SaaS
Vertical Multiples Heatmaps
Observed revenue and EBITDA multiple ranges across SaaS, Fintech, Gaming, and Media verticals.
Cross-sector
Research · Cross-sector
The Buyer Hierarchy: why strategic acquirers can outbid private equity, and when they don't
Founders are told a strategic buyer always pays more. The research says strategics usually do, but not always, and the reason is structural: what each buyer can finance and what each buyer can do with the asset after completion.
Research · Cross-sector
The Decay Curve: the hidden cost of slow deals
Time kills deals. Some of the clock is fixed by regulators and cannot be negotiated. The rest is set by how prepared the seller is. This report separates the two and shows where the risk builds.
AI
Research · AI
Artificial Intelligence and Strategic M&A in 2026
Capital Allocation, Valuation, and Market Structure: Evidence from 2022 to 2025 Transaction Data
Research · AI
The Great Re-rating:Q1 2026 Digital M&A Market Report
The Great Re-rating: Q1 2026 Digital M&A Market Report. Acquiry provides specialist digital M&A advisory for buyers and sellers.
Global M&A
Gaming
Digital M&A
Crypto
Media
Acquiry Digital Index
Public market multiples for listed software and fintech companies, used as a daily proxy for private market sentiment. Private deals typically price at a discount to these levels.
SaaS Index
Feed connecting
Median market cap to TTM revenue across SNOW, SHOP, HUBS, CRM, NOW, DDOG, WDAY, TEAM, MDB, ZS. Figures publish once at least five constituents report.
Fintech Index
Feed connecting
Median market cap to TTM revenue across PYPL, XYZ, AFRM, SOFI, COIN, TOST, FOUR, GPN, FI, NU. Figures publish once at least five constituents report.
Market data from Polygon.io, refreshed hourly. Revenue is trailing twelve months from company filings. Indicative only and not investment advice.
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Any sector, any market. If it is not listed, bring it to us anyway.