M&A advisory services in Austria
Austria has an active M&A market for technology exits, anchored by Vienna and drawing strategic acquirers from across the DACH region and Western Europe, with strong PE interest in the fintech, edtech and enterprise software sectors that have produced Austria's breakout companies.
Bitpanda's growth investment from Peter Thiel's Valar Ventures, GoStudent's Softbank-backed raises and Storyblok's international growth rounds illustrate the appetite from global acquirers and investors for Austrian tech assets - and the importance of running structured exit processes rather than reactive ones.
Flow advises both bootstrapped and venture-backed Austrian companies through M&A exits. We run lean, KPI-driven preparation processes, bring a deep PE and strategic acquirer network across DACH and Europe, and manage the end-to-end transaction - from information memorandum through buyer qualification, term sheet and close - while helping founders navigate the Beteiligungsertragsbefreiung and FlexCo equity treatment ahead of a sale.
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Austria tech M&A deals in the last 12 months
$108M
Austria median tech M&A valuation
4.6x
Austria median tech M&A revenue multiple
$729M
Austria biggest tech acquisition in the last 12 months
Selling your tech company in Austria
Austrian M&A follows European mid-market conventions with country-specific overlays around notarised closings, the Investment Control Act and the corporate group exemption for share sales by Austrian corporate sellers.
Locked-box and completion accounts
Austrian private M&A uses both locked-box and completion accounts. Locked-box is increasingly common in tech and PE-led processes; completion accounts remain frequent in traditional sectors. Choice driven by sector convention.
W&I insurance is increasingly common
Warranty & indemnity insurance is now standard in Austrian deals above roughly €25M. Premiums (around 1-1.5% of cover) typically split between buyer and seller, replacing traditional escrow.
Foreign investment review
Austria's Investment Control Act (Investitionskontrollgesetz) requires authorisation for non-EU/EEA acquirers taking 10%+ stakes in Austrian companies in sensitive sectors - defence, dual-use, AI, critical infrastructure, biotech. Adds notification time and conditions.
Capital gains for founders
Austrian individuals are taxed on share disposal gains at 27.5% (Kapitalertragsteuer). Holding-company structures (Austrian Privatstiftung or GmbH holding) used to defer taxation - worth planning 12+ months ahead of a sale.
Beteiligungsertragsbefreiung
Sales of shares by an Austrian corporate seller can benefit from the Austrian participation exemption (Beteiligungsertragsbefreiung) - typically requires 10%+ holding for one year and the subsidiary being a qualifying entity. Often drives whether a transaction is share or asset-structured.
Merger control and notarisation
BWB (Bundeswettbewerbsbehörde) reviews transactions where parties' combined worldwide turnover exceeds €300M and Austrian turnover exceeds certain thresholds. Most tech deals don't trigger. All GmbH share transfers require notarisation in Austria - a recurring closing-day cost.
Recently acquired tech companies in Austria
Biggest M&A recently in Austria was a $729M acquisition of Frauscher Sensor Technology by Wabtec in July 2025.
See all M&A deals in Austria| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Jul-25 | Frauscher Sensor Technology | | Frauscher Sensor Technology is a provider of wheel detection systems, axle counters, and tracking solutions for railway infrastructure, relying on inductive sensors and distributed acoustic sensing. Headquartered in Austria with subsidiaries in Australia, India, the UK, and the USA, the company equips operators on five continents for network monitoring and protection. Established in 1992, Frauscher delivers components for level crossing systems, signaling, and asset management, enabling self-sufficient design, installation, and maintenance through customized training programs. Its technologies integrate into CBTC, ETCS, and Positive Train Control standards. | Wabtec | $729M | 4.6x | |
Feb-26 | A | ams OSRAM (non-optical sensor unit) | | ams OSRAM's non-optical sensor unit specializes in analog and mixed-signal sensors for industrial and automotive applications worldwide. | Infineon | $673M | 2.6x |
Jun-25 | Biocrates Life Sciences | | Biocrates Life Sciences is an Austrian company specializing in targeted metabolomics kits for biomarker discovery and validation in precision medicine. Its MxP Quant 500 kit enables absolute quantification of over 630 metabolites across 61 pathways using LC-MS technology, supporting research in oncology, neurology, and cardiology. The platform includes automated sample preparation with the EVO kit and cloud-based MetaboAnalyst software for data processing. Innsbruck-headquartered since 1998, Biocrates serves academic labs and pharma companies worldwide, including collaborations with Roche and AstraZeneca. | Bruker | $108M | 8.3x | |
Aug-25 | emotion3D | | emotion3D is a software provider of Human AI perception for automotive in-cabin monitoring. Munich-headquartered, the company analyzes camera images for body joint positions, head poses, and facial data in real-time. Integrated into its CABIN EYE product, the technology detects driver drowsiness, fatigue, and crash scenarios. emotion3D licenses its algorithms to OEMs and suppliers like Bosch for safety, automation, and personalized vehicle controls. | Indie Semiconductor | $20M | - | |
Jan-26 | OGDC | | OGDC is a European infrastructure company developing power and data centers optimized for AI and digital economy demands. | VivoPower | $13M | - | |
May-26 | Emmi AI | | Emmi AI is a physics-informed artificial intelligence company headquartered in Tel Aviv. The startup accelerates industrial engineering by replacing slow simulations with AI models for manufacturing processes, aerodynamics, and structural analysis in sectors like aerospace and automotive design. | Mistral AI | - | - | |
Mar-26 | TSPD Group | | TSPD Group centers on IT lifecycle management and circular economy practices. | VTC Industriebeteiligungen | - | - | |
Feb-26 | Inoqo | | Inoqo is a mobile app that tracks environmental, social, and biodiversity impacts of grocery purchases, recommending lower-impact alternatives to promote sustainable consumer choices. | Mondra | - | - | |
Feb-26 | Elfer Spot | | Elfer Spot is an online marketplace specializing in classic and pre-owned Porsche vehicles, connecting buyers and sellers across Europe. | duPont REGISTRY Group | - | - | |
Feb-26 | Redem | | Redem is a SaaS platform automating the cleaning of survey data for market research firms, applying quality checks to remove invalid responses and enhance analysis accuracy. | Rep Data | - | - | |
Jan-26 | Storyclash | | Storyclash is an influencer marketing platform identifying creators based on content relevance rather than follower counts, analyzing Instagram Stories and posts across platforms. Berlin-based since 2016, it tracks campaigns for brands in fashion, beauty, and tech, providing discovery tools, performance benchmarks, and automated matching via AI sentiment analysis. Clients access real-time insights on audience demographics and engagement authenticity. | Kolsquare | - | - | |
Jan-26 | dataspot | | Dataspot is an Austrian provider of data governance and metadata management software. Vienna-based, it helps organizations achieve data quality, compliance, and oversight through intuitive tools available in multiple languages. | Softproject | - | - | |
Dec-25 | G | Green Mobility Partners | | Green Mobility Partners leases sustainable locomotives and provides rail services. Austria-based, the company supports freight operators with low-emission rolling stock and maintenance. | KKR | - | - |
Nov-25 | W2P Engineering | | W2P Engineering is an Austrian specialist in high-precision 3D printers tailored for professional and industrial use. | Redon Technology | - | - | |
Oct-25 | Txture | | Txture is a software platform for cloud migration and transformation projects. It supports business case development, application portfolio assessment, target architecture design, and migration roadmapping. Amsterdam-headquartered Txture partners with Accenture, Deloitte, Kyndryl, and cloud providers like AWS and Azure, delivering projects across Europe, North America, Asia, and Australia. | IBM | - | - |
Who is buying tech companies in Austria?
FLEX Capital Management, Verdane and KKR are the most active acquirers in Austria.
See all acquirers in Austria| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
FLEX Capital Management | | FLEX Capital Management is a private equity firm targeting majority buyouts in internet and software companies throughout the DACH region. Founded in 2018, Vienna-based FLEX Capital invests in businesses generating revenues between EUR 5 million and EUR 30 million. It supports portfolio companies with operational expertise to accelerate growth in e-commerce, SaaS, and digital services. The firm partners with management teams to execute expansion strategies in German-speaking Europe. | Evol.XEvolit ConsultingOmikron | 2 | |
Verdane | | Verdane is a growth equity investor targeting tech-enabled companies in Northern Europe. The firm pursues opportunities in digital consumer services, enterprise software, and sustainable technologies from offices in Berlin, Copenhagen, Helsinki, London, Oslo, and Stockholm. Verdane supports portfolio companies through minority or majority stakes and operational expertise since 2003. | CropsterEversportsAugmentum Fintech+2 | 2 | |
KKR | | KKR is one of the world's largest alternative asset managers, with $723.2 billion in total managed assets, including $585.0 billion in fee-earning AUM, at the end of September 2025. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). | Green Mobility PartnersNothing Bundt CakesAllfleet+2 | 1 | |
Wabtec | | Westinghouse Air Brake Technologies Corp provides value-added, technology-based products and services for the freight rail and passenger transit industries and the mining, marine, and industrial markets. It provides its products and services through two main business segments: Freight and Transit. The company generates maximum revenue from the Freight segment, which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives, provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products, including electronics, positive train control equipment, signal design, and engineering services. Geographically, it generates a majority of its revenue from the United States. | Frauscher Sensor TechnologyGE TransportationDellner Couplers+1 | 1 | |
SPIE | | SPIE SA is a European provider of multi-technical services in electrical, mechanical, and HVAC engineering and communication systems as well as specialized energy-related services. It helps its customers design, build, operate and maintain facilities that are energy-efficient and environmentally friendly. The group structures its activities around operating segments: France, North-Western Europe, Germany, Central Europe, and Global Services Energy. The majority of its revenue is derived from the France segment. It has a geographic presence in Europe, Africa, North, America, Asia-Pacific and Middle East. | ECOexperts AutomationRofa Industrial AutomationWorley Power Services+2 | 1 | |
Newsrooms.ai | | Newsrooms.ai is an AI-driven platform for content production and management tailored to businesses and news organizations. It automates the full content lifecycle, including research, generation, editing, and multichannel publishing across websites, social media, and apps. The system supports scalable output for editorial teams seeking efficiency in digital journalism and marketing. | Trending Topics | 1 | |
Valutico | | Valutico is a Vienna-headquartered provider of web-based company valuation software. Founded in 2014, the platform enables users to perform discounted cash flow, comparable company, and precedent transaction analyses. Valutico maintains an additional office in Frankfurt, Germany, and serves clients including investment banks, private equity firms, and corporate finance teams across Europe. The tool supports over 20 valuation methodologies compliant with international standards. | Paraloq | 1 | |
fonio.ai | | fonio.ai is a Vienna-based provider of AI-powered virtual phone assistants launched in 2024. The platform handles inbound calls 24/7 by answering queries, booking appointments, and routing leads while transcribing conversations for CRM integration with tools like HubSpot and Salesforce. It supports multilingual interactions for small businesses in Europe, automating up to 80 percent of customer service tasks. | fluently | 1 | |
Banijay Group | | Banijay Group NV media and entertainment company. It has over 130 production companies across 23 territories, a multi-genre catalogue boasting over 185,000 hours of original standout programming, and a complementary live entertainment business. | WerktitelAll3MediaTipico Group+1 | 1 | |
Indie Semiconductor | | Indie Semiconductor Inc is empowering the Autotech revolution with next-generation automotive semiconductors and software platforms. It focuses on edge sensors for Driver Assistance Systems including LiDAR, connected car, user experience, and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms. Geographically, the company generates majority of its revenue from Greater China and rest from United States, Europe, South Korea and other regions. | emotion3Dams OSRAM (CMOS image sensor unit)Exalos+1 | 1 |
Public tech companies in Austria
AT&S Austria is Austria's largest publicly listed tech company, with a market cap of $5.3B.
See all public companies in Austria| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
AT&S Austria | AT&S Austria Technologie & Systemtechnik AG manufactures printed circuit boards and operates through segments of electronic solutions, microelectronic, and others. The products are manufactured in the European and Asian markets and are directly distributed to original equipment manufacturers as well as contract electronic manufacturers. | $135.55 | +591.8% | $5.3B | $6.9B | 3.2x | ||
ams-OSRAM | ams-OSRAM AG designs manufactures and sells sensors, sensor interfaces, and analog integrated circuit solutions. The company is an important supplier to customers in the consumer, communications, medical, automotive, and industrial end markets. The firm operates in three segments semiconductors, CMOS Sensors & ASIC and Lamps and systems. The majority of its revenue is generated from the semiconductors segment. The company generates maximum revenue from the Asia Pacific region and the rest from the Americas, and Europe, Middle East, and Africa (EMEA). | $25.92 | +155.3% | $2.6B | $3.7B | 1.0x | ||
PIERER Mobility | PIERER Mobility AG is an automotive niche player that includes brands KTM, Husqvarna, GASGAS. The reportable segments of the company are; Motorcycles, Bicycles, and Others. The Motorcycles segment which generates the majority of the revenue, comprises the development, production and distribution of motorcycles under the KTM, Husqvarna Motorcycles, and GASGAS brands as well as components of the WP brand. The Bicycles segment's focus is on developing, manufacturing and trading e-bicycles and bicycles under Husqvarna E-Bicycles, GASGAS Bicycles. Geographically, key revenue for the company is derived from Europe (without Austria), and the rest from North America and Mexico, Austria, and other regions. | $94.68 | - | $2.1B | - | - | ||
Austriacard | Austriacard Holdings AG is a B2B (business-to-business) provider of secure data solutions mainly in Europe, with market share in many European countries. It engages in the business areas of Digital Security and Information Management. The Digital Security division provides end-to-end secure data solutions and offers personalization services and products for the sensitive areas of financial institutions, government, the public sector, transportation as well as industry & retail. The information management division provides products and services for secure document and information management, as well as specialized solutions for the digital transformation of businesses and organizations under the brand INFORM. | $11.08 | +79.1% | $398M | $493M | 1.1x | ||
Fabasoft | Fabasoft AG is a software manufacturer and provider of cloud services for the digital control of documents as well as electronic document, process, and record management. The software ensures the consistent capture, organization, secure storage, and context-sensitive findings of all digital business documents and the media-neutral multi-channel publishing of digital content. Its software products can be used based on purchasing models with payment of one-off software license fees and optional recurring update tees or based on recurring usage fees for cloud services, Software-as-a-Service (SaaS). The company earns revenue from sales of software and services. Its business is classified under geographical segments that include Austria, Germany, Switzerland, and Other countries. | $13.72 | -30.7% | $146M | $115M | 1.1x | ||
Kapsch TrafficCom | Kapsch TrafficCom AG is an Austria-based company which provides intelligent transportation systems (ITS). The company's operating segment includes Tolling and Traffic Management. It generates maximum revenue from the Tolling segment. Tolling segment comprises activities relating to the implementation and the technical and commercial operation of toll collection systems. Traffic Management segment primarily comprises activities relating to the implementation and operation of systems and solutions for controlling traffic and mobility behavior, as well as the relating components business. Geographically, it derives a majority of revenue from Europe, Middle East, Africa and also has presence in Austria, Americas, and Asia-Pacific. | $6.74 | -21.0% | $96M | $94M | 0.2x |
Why Flow Partners as your M&A advisor
Access to relevant buyers
We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.
No corporate red tape
We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.
Thorough preparation
KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.
Optimize value, not valuation
Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.
We provide M&A advisory services across Austria and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in Austria.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've closed sell-side and buy-side transactions across European, US and emerging-market tech.
Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
Recently completed M&A advisory projects
Selected M&A transactions and prior deal experience.
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