Top Software Acquisitions in Europe During the First Half of 2025
In the first half of 2025, the software sector in Europe demonstrated a steady flow of capital into companies scaling AI, automation, and digital infrastructure. The sector continued to show resilience and breadth with strong deal activity, as software companies raised a total of €3.6 billion across 335 deals.
The funding landscape in software was more fragmented, with a larger number of smaller- to mid-sized rounds fueling innovation. Despite the presence of mega-rounds in other sectors, the software sector maintained a significant level of investment activity.
The total European tech funding in the first half of 2025 was €33.7 billion, with software companies representing approximately 11% of this total. In terms of the number of deals, software companies accounted for 17% of all tech deals.
The largest software deals in H1 2025 were primarily in sectors such as productivity AI, workforce platforms, enterprise SaaS, risk decisioning, cryptography/FHE, FinOps, and healthtech. While the specific details of these deals were not provided, several large software deals were recorded, including Google's planned $32 billion acquisition of cloud security company Wiz, OpenAI’s $6.5 billion acquisition of AI-device startup Io, and SoftBank’s $6.2 billion cash purchase of chip design company Ampere Computing.
The average deal size in software was approximately €10.7 million, compared to €17.4 million across European tech overall. The raises indicate continued investor interest in AI-enabled, mission-critical tools that address both broad and industry-specific needs.
The total number of tech deals in the first half of 2025 was over 1,940, with the number of large software deals not explicitly mentioned. The first half of 2025 featured several outsized software rounds across Europe, contributing to the overall growth and development of the software industry in the region.
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