EXXING Banking Insights — TMT Transaction Analysis & Market Trends

Research & Intelligence

TMT Deal Intelligence

In-depth analysis of M&A trends, capital markets, and sector dynamics. Actionable intelligence from 20+ years of transactional experience.

Research Library

Publications covering the full spectrum of TMT transactions.

25 publications

EXXING INSIGHT Geopolitical Risk & TMT

TMT Markets in the Fog of War: Geopolitical Shock, Semiconductor Exposure & Cyber Escalation

Analyse factuelle de l'impact du conflit US-Israël-Iran sur les marchés TMT. Performances boursières, semi-conducteurs asiatiques, cyberattaques et perspectives.

Read Article →
March 202612 min read

US-Israel military operations against Iran trigger cross-asset repricing. S&P 500 TMT -7.3%, STOXX Europe 600 Tech -5.8%, TA-35 -12.4%. Asian semiconductor supply chains face acute pressure. Cyberattack frequency on TMT infrastructure +340% YoY.

-7.3%
S&P 500 TMT
+340%
Cyberattacks YoY
Download Full Report (DOCX)
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

EXXING INSIGHT
M&A Trends · Featured Report

The Evolution of Telecom M&A in EMEA

Exploring consolidation patterns, 5G infrastructure investments, and the emergence of fiber-as-an-asset strategies across European and African markets.

Read Report →
March 20268 min read

Key Findings

  • → Operators restructuring portfolios toward asset-light models
  • → FiberCo and TowerCo carve-outs accelerating across EMEA
  • → Private equity dry powder targeting digital infrastructure
  • → Cross-border deals increasing as African markets mature
  • → Regulatory approvals remain primary deal timeline risk

Based on EXXING's analysis of 90+ TMT engagements across 15+ countries.

EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

MWC 2026: When AI Becomes Infrastructure
EXXING INSIGHT
Strategy

MWC 2026: When AI Becomes Infrastructure

From 109,000 professionals at MWC Barcelona, five structural breaks emerge: AI shifts from promise to infrastructure, sovereignty reshapes vendor strategy, Chinese players stage a comeback, and European operators face an existential technology gap.

Read Article →
March 20269 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

TMT M&A 2025-2026: Value Creation in a K-Shaped Market
EXXING INSIGHT
M&A

TMT M&A 2025-2026: Value Creation in a K-Shaped Market

Five structural trends define the current TMT M&A cycle: vertical integration, strategic carve-outs, sovereignty-driven acquisitions, media scale plays, and the European tech consolidation imperative. Analysis based on Mergermarket and PwC Global M&A Trends data.

Read Article →
January 202610 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Raising Capital in the AI Era
EXXING INSIGHT
Capital Markets

Raising Capital in the AI Era

How TMT companies are positioning themselves for capital raises in 2026. What investors look for. The role of AI infrastructure spend in valuation multiples and investor appetite.

Read Article →
March 202610 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Fintech in Africa: Regulatory Landscape & Deal Dynamics
EXXING INSIGHT
Sector Analysis

Fintech in Africa: Regulatory Landscape & Deal Dynamics

A comprehensive review of fintech M&A activity, regulatory frameworks, and transaction structures across African markets. Payment systems, mobile money, and cross-border implications.

Read Article →
February 202612 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Spectrum Policy & 5G Rollout Timelines in MENA
EXXING INSIGHT
Regulatory Watch

Spectrum Policy & 5G Rollout Timelines in MENA

Regulatory outlook for 5G spectrum auctions across Morocco, Tunisia, and the broader MENA region. Timeline implications, expected investment requirements, and M&A consequences.

Read Article →
February 202611 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Infrastructure Carve-Outs: Fiber & Tower Plays in 2026
EXXING INSIGHT
M&A Trends

Infrastructure Carve-Outs: Fiber & Tower Plays in 2026

Why telcos are spinning out infrastructure assets. Valuation approaches for fiber networks and tower portfolios. Deal structures, buyer profiles, and comparables.

Read Article →
January 20269 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

European Telecom Debt Markets: Refinancing Outlook
EXXING INSIGHT
Capital Markets

European Telecom Debt Markets: Refinancing Outlook

Credit spreads, covenant structures, and refinancing risk for major operators. Impact of interest rate expectations on debt-financed M&A and operator strategies.

Read Article →
January 20267 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

SaaS Enterprise Consolidation Trends
EXXING INSIGHT
Sector Analysis

SaaS Enterprise Consolidation Trends

Roll-up strategies in enterprise software. Valuation multiples for B2B SaaS. Growth vs. profitability in acquisition decisions. Cross-border M&A in European tech.

Read Article →
December 202510 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Data Privacy & GDPR Compliance in M&A
EXXING INSIGHT
Regulatory Watch

Data Privacy & GDPR Compliance in M&A

Due diligence playbook for GDPR compliance. Common issues in European deals. Impact on valuation and deal structure. Post-closing privacy integration.

Read Article →
December 20258 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

BPO Disruption: From Labor Arbitrage to AI-Native
EXXING INSIGHT
Sector Analysis

BPO Disruption: From Labor Arbitrage to AI-Native

$525B1 BPO market by 2030. 90% reduction in labor needs with conversational AI. 25.1%2 CAGR for generative AI in BPO (2024-2029). Implications for Intelcia, Concentrix, and the outsourcing value chain.

Read Article →
March 20269 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Sovereign AI: The Africa Opportunity
EXXING INSIGHT
Capital Markets

Sovereign AI: The $50B3 Africa Opportunity

Why African governments are building national AI infrastructure. Competitive dynamics with hyperscalers. Investment strategies for capturing emerging AI capex.

Read Article →
February 20268 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

The Inevitable Consolidation of European Fibre AltNets
EXXING INSIGHT
M&A Trends

The Inevitable Consolidation of European Fibre AltNets

Why fragmentation of the European fibre market is unsustainable. Rising interest rates, overbuild economics, and scale imperatives are accelerating M&A. Transaction structures and valuation frameworks for fibre consolidation deals.

Read Article →
November 202514 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

5G Monetization: Private Networks, FWA & Slicing
EXXING INSIGHT
Sector Analysis

5G Monetization: Private Networks, FWA & Slicing

How operators unlock 5G ROI through Private Networks, Fixed Wireless Access, and Network Slicing. Strategic analysis grounded in backhaul economics and tested in North African markets.

Read Article →
December 202414 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

North Africa in the Data Centre Shift
EXXING INSIGHT
Sector Analysis

North Africa in the Data Centre Shift

North African data centre investment analysis. Digital sovereignty requirements, hyperscaler entry, and submarine cable investments transforming the market. 17.4% CAGR through 2030.

Read Article →
October 202514 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Digital Infrastructure: TowerCos & FiberCos Value
EXXING INSIGHT
Capital Markets

Digital Infrastructure: TowerCos & FiberCos Value

Comprehensive framework for valuing TowerCos and FiberCos in emerging markets. DCF methodology, operational risks, and value creation strategies with African and EMEA case studies.

Read Article →
December 202415 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

TMT Trends 2025: Consolidation, Sovereignty & AI
EXXING INSIGHT
M&A Trends

TMT Trends 2025: Consolidation, Sovereignty & AI

Strategic movements across Europe and Africa: Sovereign Cloud consolidation driving €25.5B market by 2028, generative AI transformation in financial services, and regulatory reshaping of competitive dynamics.

Read Article →
November 202515 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

The Economics of Web3 Gaming: Exploratory Reflections
EXXING INSIGHT
Sector Analysis

The Economics of Web3 Gaming: Exploratory Reflections

92% of 2021 Play-to-Earn projects now inactive. Economic analysis of sustainable tokenomics, the inflationary trap, and frameworks for building viable gaming economies.

Read Article →
December 202415 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

DCF Sensitivity in Telecom M&A: Why Terminal Value Kills Deals
EXXING INSIGHT
Valuation

DCF Sensitivity in Telecom M&A: Why Terminal Value Kills Deals

Common valuation errors in telecommunications M&A. How to stress-test assumptions, build defensible models, and negotiate better prices in emerging markets.

Read Article →
February 20269 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Telecom Operator M&A in Africa: Deal Dynamics & Value Drivers
EXXING INSIGHT
M&A

Telecom Operator M&A in Africa: Deal Dynamics & Value Drivers

Analysis of recent consolidation trends, why smaller operators struggle in competitive markets, and strategic options for creating scale in emerging TMT sectors.

Read Article →
February 202610 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Value Creation vs. Accounting Results in TMT M&A
EXXING INSIGHT
M&A Strategy

The Blue Line Imperative: Value Creation vs. Accounting Results in TMT M&A

Why TMT acquirers who optimize intrinsic economic value (ROIC vs. WACC spread) consistently outperform those chasing accounting metrics. A framework for uncontested value creation.

Read Article →
March 20268 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

Post-Merger Integration in TMT
EXXING INSIGHT
M&A Strategy

Post-Merger Integration in TMT: The 100-Day Playbook

Why 50–60% of TMT integrations destroy value. A structured 100-day playbook addressing network synergies, IT/BSS/OSS, talent retention, and customer migration.

Read Article →
March 20268 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

BPO at the AI Inflection Point
EXXING INSIGHT
Sector Analysis

BPO at the AI Inflection Point: Valuation Reset for TMT Investors

GenAI breaks legacy BPO economics. FTE-based pricing collapses while AI-augmented operators see margin expansion. Multiples resetting: legacy 6–8x vs. AI-first 12–15x EBITDA.

Read Article →
March 20269 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

TMT M&A 2025 Transaction Trends
EXXING INSIGHT
TMT Observatory

TMT M&A 2025: $166B in Deals, Software Dominance, and the AI Megadeal Era

Based on EXXING TMT Strategist data: 35 transactions worth $166.2B in H1 2025. Software captures 47% of deal value, AI deals surge, North America concentrates 68%.

Read Article →
March 202610 min read
EP

Eric Pradel-Lepage

Managing Director · TMT Specialist

No articles in this category.

1 Source: Grand View Research, BPO Market Report 2025

2 Source: Industry estimates, Generative AI in BPO sector analysis

3 Source: Africa Data Centres Association, 2025 projections

Looking for deal-specific intelligence?

Our team tracks 2,664+ TMT transactions and provides custom analysis for your specific deals.

Request Transaction Briefing Book a Meeting