In Q1 2025, the IT Services sector’s median disclosed M&A deal size reached $5 million, with disclosed deal values ranging from $2.1 million to $975 million. The median disclosed M&A transaction had a revenue multiple of 1x and we saw a deal in the Contract Manufacturing & Design subsector valued at 1.7x revenue. Public peers in the sector had an enterprise value to sales ratio of 3.1x and an enterprise value to EBITDA ratio of 20.2x.