The Austrian mergers and acquisitions (M&A) market experienced an increase in the number of transactions, but the total value declined due to geopolitical tensions and rising costs impacting business activity.
In 2024, the Austrian M&A market surprised forecasts with a 7.9% increase in the number of transactions, despite a significant drop of 24.2% in the total value of deals. According to data from consulting firm EY, 245 transactions were announced, totaling 5 billion euros – far from the values seen during previous boom years, but reflecting stabilization amid global uncertainties.
The largest transaction of the year was the sale of Austrian mobile phone towers for 803 million euros. Geopolitical tensions, the war in Ukraine, and rising borrowing costs left their mark, contributing to a more moderate market.
The technology sector led in value, with transactions totaling 1.5 billion euros, while the industrial sector dominated by the number of transactions, with 83 deals. However, it is clear that strategic transactions, such as asset sales and spin-offs, have become the norm, while private equity has largely stayed on the sidelines.
Analysts suggest that this new, lower level of market activity in M&A could become the “new normal” in the Austrian corporate landscape.