01 · Research
Executive Summary
Valuation in digital asset M&A is driven by a combination of quantitative metrics and qualitative factors. While every asset is unique, market multiples provide a critical benchmark for both buyers and sellers. The following heatmaps represent observed multiple ranges from Acquiry's deal flow and proprietary market data as of Q1 2026. These are not absolute figures but directional indicators of market sentiment and risk appetite.
02 · Research
SaaS Multiples
| SaaS Category | Annual Recurring Revenue (ARR) | TTM Revenue Multiple | TTM EBITDA Multiple |
|---|---|---|---|
| Vertical SaaS | $1M - $10M | 5.0x - 8.0x | 15x - 25x |
| Horizontal SaaS | $1M - $10M | 4.0x - 6.5x | 12x - 20x |
| B2C SaaS | $1M - $10M | 2.5x - 4.5x | 8x - 14x |
03 · Research
Fintech Multiples
| Fintech Category | Annual Revenue | TTM Revenue Multiple | TTM EBITDA Multiple |
|---|---|---|---|
| Payments Infrastructure | $5M - $50M | 6.0x - 10.0x | 20x - 30x |
| Wealthtech / Robo-advisory | $5M - $50M | 4.0x - 7.0x | 15x - 22x |
| Consumer Lending | $5M - $50M | 2.0x - 4.0x | 5x - 10x |
04 · Research
Gaming Multiples
| Gaming Category | Annual Revenue | TTM Revenue Multiple | TTM EBITDA Multiple |
|---|---|---|---|
| Mobile (In-App Purchases) | $2M - $20M | 3.5x - 5.5x | 8x - 12x |
| PC / Console (Premium) | $2M - $20M | 2.5x - 4.0x | 6x - 10x |
| iGaming / Real Money | $2M - $20M | 4.0x - 6.0x | 10x - 15x |
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Research · SaaS
Redacted Case Studies
Anonymised summaries of completed transactions. Identifying details have been removed.
Deal Intelligence · SaaS
Francisco Partners puts ~$650m on Weave and takes healthcare's AI engagement platform private
Francisco Partners signed a definitive agreement on 18 August 2026 to acquire Weave Communications (NYSE: WEAV) at approximately $650 million aggregate equity value and $7.40 per share in cash. The ~34% premium take-private folds a 40,000-location AI patient engagement and payments platform into PE ownership with a Q4 2026 close target.
News · SaaS
Exit Readiness for Digital Business Founders: What Acquirers Are Actually Checking in 2026
By Joash Boyton, Founder & Managing Director, Acquiry • February 2026
Explore the sector:SaaS acquisitionsFintech M&A
About the analyst
Joash Boyton
Founder and Managing Director, Acquiry · Melbourne, Australia · Global coverage
Joash Boyton is the Founder and Managing Director of Acquiry, a specialist M&A advisory firm focused on the acquisition and sale of businesses. He executes buy-side and sell-side mandates from USD $1M to $500M across technology, SaaS, fintech, payments, gaming, blockchain and emerging verticals, and is not limited to them. Any sector, any market.