During the first quarter of 2026, a total of 21 M&A transactions in IT consulting were recorded, marking the strongest start to the year in recent history. This growth becomes even more significant when compared to previous years: 6 transactions in Q1 2023, 8 in Q1 2024, and 12 in Q1 2025.
This increase confirms the strong momentum of a sector where organic growth is no longer sufficient for many companies, which are increasingly turning to inorganic expansion as a way to scale their business, enhance capabilities, and strengthen their competitive positioning.
Clear predominance of industrial investors
One of the most notable features of the quarter is the buyer profile. 100% of the transactions were led by industrial players, meaning companies within the sector seeking to strengthen their offerings through strategic acquisitions.
In addition, nearly 40% of these investors are backed by private equity, highlighting the growing role of financial sponsors as catalysts for sector consolidation.
This hybrid model—industrial + financial sponsor—is enabling the creation of larger technology platforms, capable of competing at a European scale.
Strong international interest in the Spanish market
The attractiveness of Spain’s IT sector continues to grow beyond its borders. In Q1 2026, 52% of transactions involved international buyers.
This interest is mainly driven by three key factors:
Countries such as Italy, France, and Belgium have played a significant role in recent transactions, reinforcing Spain’s position as a key market within the European technology ecosystem.
Key segments: where investment is heading
M&A activity also reflects the areas attracting the greatest strategic interest within the sector. The most relevant segments include:
These areas not only respond to market demand but have also become core growth drivers for technology companies.
A sector in accelerated consolidation
Beyond the quantitative data, the key insight from the quarter is clear: IT consulting in Spain has entered a phase of accelerated consolidation.
Companies are seeking to gain scale, expand their service offerings, and strengthen their positioning in the European market. In this context, M&A has become the primary strategic lever.
At the same time, domestic companies are intensifying their international expansion plans, while multinational players continue to strengthen their presence in the Spanish market.
Outlook: more deals and increasing competition
Looking ahead to the coming quarters, all signs point to the continuation of this trend. Expectations include:
In this environment, factors such as specialization, talent, and post-merger integration capabilities will be critical to the success of transactions.
The start of 2026 confirms that Spain’s IT consulting sector is experiencing a period of strong momentum and transformation. The combination of industrial investment, private capital, and international interest is shaping an increasingly competitive and consolidated market.
For companies in the sector, the challenge will not only be to grow, but to do so strategically in an environment where scale, innovation, and execution capabilities will make the difference.
By ALBIA I IMAP
cloud technology axon
The company generates annual revenues of approximately €90 million a...
