M&A Review

Q4 2023

What’s Inside?

In this report, we provide an in-depth overview of the HRTech M&A market, including the most active players, key drivers, and recent transactions in the third quarter of 2023.

In this report, we look at the emerging trends and notable M&A transactions in HR Technology during the third quarter of 2023.

  • Generative AI and foundation models continue to transform the user experience and capabilities of leading HRTech products in this rapidly evolving technology.
  • Deal volumes increased slightly, with 68 reported transactions in Q4 vs. 61 in Q3 2023.
  • Talent Development remained the most active sub-sector, representing 44% of identified deals.
  • Compensation and Benefits saw an increase from 5% to 18% of all transactions this quarter, with notable transactions reported among cloud payroll, and compensation planning and analytics providers.
Download our full report to see the full analysis of the HRTech industry in Q3 2023.




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