M&A advisory services in Morocco
Morocco is Francophone Africa's most active M&A market for tech and services businesses, with Casablanca-based acquirers, European strategic buyers and Gulf PE increasingly targeting Moroccan companies as regional growth vehicles.
Exit activity spans bootstrapped trade sales and venture-backed acquisitions across B2B commerce, logistics and fintech - with ORA Technologies and Tisalabs representing the range of strategic acquirer interest from European and pan-African buyers.
Flow advises both bootstrapped and venture-backed Moroccan founders through sell-side M&A, drawing on a strong PE and strategic acquirer network across Morocco, Europe and the Gulf, KPI-driven preparation, and a lean end-to-end process from mandate to close.
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Morocco tech M&A deals in the last 12 months
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Morocco median tech M&A valuation
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Morocco median tech M&A revenue multiple
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Morocco biggest tech acquisition in the last 12 months
Selling your tech company in Morocco
Moroccan M&A follows European mid-market conventions with country-specific overlays around CFC mechanics, foreign exchange considerations and the Competition Council merger control regime.
Completion accounts dominate
Moroccan private M&A is predominantly completion-accounts based, with detailed working-capital target and adjustment mechanics. Locked-box has limited adoption.
W&I insurance is growing
Warranty & indemnity insurance is becoming more common in Moroccan deals above roughly USD 25M, particularly in cross-border transactions. Premiums (1.5-2.5% of cover) typically split between buyer and seller.
Competition Council review
Moroccan Competition Council (Conseil de la Concurrence) reviews transactions above the relevant turnover and asset thresholds. Most pure-tech tuck-in deals don't trigger.
Capital gains for founders
Moroccan individuals are taxed on share disposal gains at specific rates depending on holding period and share type (typically 15-20% for unlisted shares). Offshore holding structures materially shape the post-tax exit outcome.
FX and Office des Changes
Repatriation of proceeds from Morocco is subject to Office des Changes regulations. Offshore exit structures via parent typically avoid Moroccan FX restrictions but can trigger Moroccan source taxation.
Cross-border tax considerations
Most material Moroccan tech exits involve offshore (France, UK or Delaware) holding entities. Moroccan source taxation can apply to sales of foreign entities deriving substantial value from Moroccan assets. Treaty network with France, Spain and EU shapes the structuring options.
Recently acquired tech companies in Morocco
Disclosed M&A deals in Morocco in the last twelve months, ranked by valuation.
See all M&A deals in Morocco| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Sep-25 | Cathedis | | Cathedis is a Morocco-based e-commerce solutions provider serving merchants in North Africa. The company delivers website development, payment gateways, logistics integration, and personalized storefronts using Shopify and WooCommerce platforms. It operates from Casablanca, supporting brands with mobile-optimized designs and data analytics for customer retention. | ORA Technologies | - | - |
Who is buying tech companies in Morocco?
ORA Technologies is the most active acquirer in Morocco.
See all acquirers in Morocco| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
ORA Technologies | | ORA Technologies is a Moroccan fintech providing a digital payments app bundling P2P transfers, e-commerce marketplace, food delivery via Kooul, chat features, and ORA Cash wallet. Launched in Casablanca, the all-in-one platform processes transactions across Africa, enabling merchants and users to handle remittances, shopping, and on-demand services seamlessly on iOS and Android. | Cathedis | 1 |
Public tech companies in Morocco
Cash Plus is Morocco's largest publicly listed tech company, with a market cap of $695M.
See all public companies in Morocco| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Cash Plus | Cash Plus SA is a fintech company. The company provides payment-services company proviby offering online and offline money-transfer solutions, and allowing users to send and receive funds nationally and internationally through its mobile app. | $28.32 | - | $695M | $620M | - | ||
Hightech Payment Systems | Hightech Payment Systems SA is the group that provides solutions and services involving electronic payment. The group offers are structured in the following business units - HPS Solutions, HPS Processing, HPS Services, Safety, and Other Products. HPS Solutions designs, develops, markets, installs, and supports a suite of multi-channel electronic payment solutions. PowerCARD software suite offers comprehensive, configurable and scalable solutions to meet the user needs. The company's software and services are sold covering many geographical areas such as Europe, Americas, Africa and the Middle East and Asia. The group's majority revenue is generated from the sale of HPS solutions. | $66.42 | +13.0% | $492M | $508M | 3.0x | ||
Vicenne | Vicenne distributes and installs technological medical equipment for hospitals and clinics in Morocco and Tunisia. The company’s business portfolio includes radiotherapy, medical imaging and cardio-vascular equipment. It includes also surgical and prescription devices. Its segments include Equipment, Consumables, Services, Waste Management, and International. | $42.75 | - | $439M | $380M | - | ||
Microdata Morocco | Microdata SA is an IT infrastructure company engaged in deploying and maintaining IT infrastructure in Morocco. The company's services include Datacenter to Software-Defined Datacenter, Virtualization, Application Modernization, Cloud Computing, and Security. | - | - | $94M | $107M | - | ||
M2M Group | M2M Group SA is a provider of processing solutions, securities management and secure electronic services. The company helps banks, governments, transport operators, universities and businesses to accelerate its digital transformation and offer its customers digital services that combine innovation, conviviality and trusted products. | - | - | $49M | $49M | - | ||
Societe Maghrebine de Monetique | Societe Maghrebine de Monetique SA offers services covering all needs in the field of electronic banking. The company provides wide range of products and services to the requests of its customers, that includes electronic payment solutions, smart card applications, e-commerce solutions, TPE, outsourcing, personalization of means of payment. | - | - | $15M | $15M | - |
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 Morocco and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in Morocco.
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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M&A is the ultimate goal, but we play a long game. We're your fractional CFO to help you build financial discipline, and advise you on raising growth capital.
Fractional CFO in Morocco
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
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We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
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