- M&A advisory
- Switzerland
M&A advisory services in Switzerland
Switzerland is one of Europe's most active M&A markets for tech exits, with a mature base of strategic acquirers in financial services, pharma, industrials and defence technology and strong cross-border interest from US and Asian buyers drawn to Swiss IP and regulatory standing.
Exits across the ecosystem - from Scandit's Advent International investment to Acronis's growth recapitalisations and On Holding's NYSE IPO - illustrate the range of liquidity paths available to Swiss founders, whether bootstrapped operators or venture-backed companies seeking full or partial exits.
Flow advises both bootstrapped and venture-backed Swiss companies through M&A exits. We bring a strong PE and strategic acquirer network, run a lean end-to-end process from KPI-driven preparation through vendor due diligence to close, and help founders understand deal structure, cantonal tax consequences and the participation deduction well before they receive an offer.
77
Switzerland tech M&A deals in the last 12 months
$211M
Switzerland median tech M&A valuation
5.0x
Switzerland median tech M&A revenue multiple
$5.9B
Switzerland biggest tech acquisition in the last 12 months
Selling your tech company in Switzerland
Swiss M&A follows European mid-market conventions with country-specific overlays around cantonal tax practice, the participation deduction for corporate sellers, and the limited (but proposed-to-expand) foreign investment review regime.
Locked-box and completion accounts
Swiss private M&A uses both locked-box and completion accounts. Locked-box is more common in PE-led and tech deals; completion accounts remain frequent in industrials and family-owned business sales. Choice driven by sector convention and process design.
W&I insurance penetration is growing
Warranty & indemnity insurance is now common in Swiss private equity and tech deals above roughly CHF 30M. Premiums (around 1-1.5% of cover) typically split between buyer and seller, replacing traditional escrow.
Foreign investment review
Switzerland currently has no general FDI screening regime - sector-specific approvals apply in banking, telecoms and certain critical infrastructure. A broader FDI screening law has been under discussion. Lex Koller restricts foreign acquisition of Swiss residential and certain commercial real estate, but does not typically apply to tech M&A.
Capital gains for founders
Private individuals selling shares typically benefit from the Swiss capital gains exemption - no federal or cantonal tax on private capital gains for non-business assets. The exemption is subject to qualifying conditions and to specific anti-abuse rules (indirect partial liquidation, transposition). Worth pre-clearing with the cantonal tax authority on material exits.
Participation deduction (Beteiligungsabzug)
Sales of shares by a Swiss corporate seller can benefit from the participation deduction (effectively a full exemption) where the seller has held 10%+ for one year, or holds shares worth CHF 1M+ at the time of disposal. Often drives whether a transaction is share or asset-structured.
Merger control
Wettbewerbskommission (COMCO/WEKO) reviews transactions where the parties' combined worldwide turnover exceeds CHF 2bn or CHF 500M in Switzerland, and each of at least two parties has CHF 100M+ Swiss turnover. Most tech deals don't trigger.
Recently acquired tech companies in Switzerland
Biggest M&A recently in Switzerland was a $5.9B acquisition of Nexthink by Vista Equity Partners in October 2025.
See all M&A deals in Switzerland| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Oct-25 | Nexthink | Nexthink is a Lausanne-headquartered leader in digital employee experience management, deploying SaaS analytics across endpoints for enterprises like Airbus and General Mills. The platform monitors device performance, application responsiveness, and user sentiment in real time, enabling IT remediation via automation scripts. Publicly listed on Nasdaq since 2023, Nexthink processes trillions of IT events daily from Fortune 500 deployments. | Vista Equity Partners | $5.9B | 17x | ||
Oct-25 | A | ABB (robotics unit) | - | SoftBank | $5.4B | 2.3x | |
Aug-25 | u-Blox | u-Blox Holding AG is a manufacturer of wireless semiconductors and modules for use in consumer, automotive, and industrial applications. The firm's business is organized into two segments namely Positioning and Wireless products segment develop and distribute GPS/GNSS positioning receivers and wireless communication modules which are mainly used in automotive, industrial, and consumer applications, and Wireless Services, which offer wireless communication technology services for reference designs and software. Roughly half of the firm's revenue is generated in the Asia-Pacific region, with the rest coming from Europe, Middle East and Africa, and the Americas. | ZI Zenith | $1.2B | 4.0x | ||
Jul-25 | Green.ch | Green.ch is a Zurich-headquartered ICT provider in Switzerland emphasizing renewable energy-powered services. It delivers fiber optic internet up to 10 Gbps, VoIP telephony, cloud hosting, and managed IT infrastructure for SMEs and enterprises. The company operates 15 data centers across the country, certified for energy efficiency and data sovereignty compliance. | IFM Investors | $1.1B | - | ||
Jul-25 | Beekeeper | Beekeeper is a Zurich-based mobile communication platform designed for frontline and deskless workers, enabling real-time messaging, task management, and broadcasts across multiple languages and locations. The platform integrates with over 100 third-party tools such as HR systems, time clocks, and safety apps to streamline operations in industries like manufacturing, hospitality, and retail. Beekeeper supports organizations in 18 languages, fostering employee engagement through features like newsfeeds, surveys, and compliance training. Founded in 2011, it serves global enterprises including Coca-Cola and TUI Group from its headquarters in Switzerland. | LumApps | $1.0B | 6.7x | ||
Aug-25 | Ypsomed | Ypsomed Holding AG is a Swiss company that develops and manufactures injection and infusion systems that allow patients to self-administer medication. Specifically, the company focuses on ensuring the ease of diabetes and insulin injection. The company offers various products such as pen needles with a click-on function. The company operates under two reportable segments: Ypsomed Delivery Systems and Ypsomed Diabetes Care. | TecMed | $475M | 1.8x | ||
Aug-25 | Daedalean | Daedalean is a developer of machine learning avionics for civil aviation and urban air mobility. The Zurich-headquartered company, with offices in Switzerland, the European Union, and the United States, produces Pilot Eye and Ailumina Vista for visual traffic detection in fixed-wing aircraft and helicopters. Partnerships with EASA and FAA support certification of AI systems for applications like power line detection and landing guidance at daedalean.ai. | Destinus | $225M | - | ||
Jul-25 | Keri Medical | Keri Medical is a Lyon, France-based orthopedics firm manufacturing specialized implants and instruments for hand and wrist surgery. Its product line includes plates, screws, and anchors used in trauma repair, arthritis treatment, and reconstructive procedures by surgeons worldwide. | Medartis | $211M | 6.0x | ||
Nov-25 | HomeBuddy | HomeBuddy is a platform generating high-intent leads for home services, connecting homeowners exclusively with providers for repairs, maintenance, and improvements. | QuinStreet | $190M | 1.3x | ||
Mar-26 | RIVR | RIVR is a Zurich-based robotics company advancing Physical AI for last-mile delivery. Rebranded from Swiss-Mile in 2025, it deploys wheeled-leg robots powered by neural networks capable of navigating urban terrains at scale. The technology equips one operator to manage fleets equivalent to 1,000 human couriers, trialing in European cities. | Amazon | $100M | - | ||
Oct-25 | N-Dream AG (AirConsole) | N-Dream AG is the Zurich-based creator of AirConsole, a cloud-gaming platform that turns smartphones into multiplayer controllers. The company develops browser-based games accessible via TV screens, focusing on social gaming experiences without downloads. | KPIT Technologies | $19M | 9.5x | ||
May-26 | NIRLAB | NIRLAB is a Swiss company and University of Lausanne spin-off that delivers real-time material analysis using AI and near-infrared spectroscopy for industries including pharmaceuticals, agriculture, food, and recycling across more than 30 countries. | 908 Devices | $15M | 6.0x | ||
Apr-26 | Sleap.io | Sleap.io is a blockchain-based hotel booking platform that accepts cryptocurrency payments and uses AI search tools for better rates. Blockchain data generates personalized offers sent to users' wallets. | Staynex | $15M | - | ||
May-26 | curli | curli is an online retailer of dog harnesses, leashes, and accessories. | Thule | $13M | 1.6x | ||
Jan-26 | Future | Future is a Zug-based Bitcoin treasury company in Switzerland building institutional-grade custody and growth strategies. Launched in 2023, it holds Bitcoin assets for high-net-worth individuals and firms using multi-signature wallets and yield-generating protocols within compliant frameworks. | H100 Group | $800K | - |
Who is buying tech companies in Switzerland?
Healthcare Holding, Bruker and Sword are the most active acquirers in Switzerland.
See all acquirers in Switzerland| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Healthcare Holding | Healthcare Holding is a distributor of advanced medical devices ensuring treatment continuity in Switzerland. Zurich-based, it supplies imaging equipment, endoscopy tools, and surgical robotics to 200 clinics and hospitals. Founded in 2015, the company partners with Siemens Healthineers and Medtronic, maintaining stock for rapid deployment across German-speaking regions. | PlusORTHO ProthetikEffectum CH-REPMVB Medizintechnik+1 | 3 | ||
Bruker | Bruker Corp manufactures scientific instruments and diagnostic tests for customers in the life sciences, applied markets, pharmaceutical, and biotechnology industries. The company operates in segments, namely, Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Supercon Technologies (BEST). The company generates maximum revenue from the BSI CALID segment. Geographically, it derives the maximum of its revenue from United States. | TOFWERKChemspeed TechnologiesMIRO Analytical+1 | 3 | ||
Sword | Sword Group is a computer engineering services company which provides consulting, services and software. The firm's main business segments are IT Services and Software. These segments encompass information and content engineering systems integration, targeting of regulated markets, compliance management, software for risk and compliance, document and project management. The firm generates revenues mainly from consultancy and engineering services and sale of software licenses. Its targeted markets are institutions and government authorities, healthcare, banking and insurance, intellectual property and sports federations. | Bubble-goincor agCirrusHQ+1 | 2 | ||
Straumann Group | Straumann is a global leader in tooth replacement and orthodontics solutions. Its line of products includes dental implants, abutments, clear aligners, biomaterials, and computer-aided design/computer-aided manufacturing equipment. The firm's core products are dental implants, and it holds over one third of the CHF 6 billion global market. Originally a pure premium implant player, Straumann entered the value market in 2012 with its acquisition of Neodent. Straumann now accounts for almost half of the global premium market and around 15% of the value market. While its premium product catalog is marketed under Straumann, its value brands include Neodent, Anthogyr, and Medentika as well as other local and regional brands. | MininavidentGalvoSurge DentalAlliedStar | 2 | ||
Swiss Post | Swiss Post is Switzerland's national postal operator delivering mail, parcels, and logistics services nationwide. Based in Bern, it runs 900 post offices and operates PostBus routes covering alpine regions. Swiss Post provides electronic payment solutions through PostFinance and e-commerce logistics via Swiss Post Solutions. | Open SystemsterreActiveSpotMe | 2 | ||
Rayner Surgical Group | Rayner Surgical Group is a Worthing-headquartered designer and manufacturer of intraocular lenses and injector devices for cataract surgery, operating from the United Kingdom. Established in 1910, Rayner supplies over 2 million IOLs annually to ophthalmic surgeons worldwide, with products like the RayOne and RayAcrylfamily featuring advanced biomaterials for premium vision outcomes. The group maintains facilities in the UK and India. | Think in SystemSophiSurgicon Enterprise | 2 | ||
GROUPE FACTORIA | GROUPE FACTORIA is a Nantes-headquartered provider of commercial printing, secure document management, data processing, and telecommunications services. The company handles variable data printing and archiving for businesses in western France. | Digital MaterialPRINTHOF | 2 | ||
Bregal Unternehmerkapital | Bregal Unternehmerkapital is a Munich-based private equity investor owned by the von Bechtolsheim family. It acquires majority stakes in mid-sized German and Austrian companies with €10-€50 million EBITDA in industrials, services, and healthcare, supporting family successions and buyouts. | Business Systems Integration AGNetricsCommunardo+1 | 2 | ||
Collana IT | Collana IT GmbH is a Dortmund-headquartered provider of specialized ERP systems for asset and facility management, maintenance management software, and mobile solutions for field service operations. The company delivers cross-industry applications that integrate planning, execution, and reporting for maintenance tasks across manufacturing, real estate, and public sectors. Collana IT supports over 300 customers in Germany and Europe with its modular platforms, including the flagship Collana Suite for digitalizing work orders and inventory control. Established in 2001, it emphasizes seamless integration with existing IT landscapes through standard interfaces like SAP and Oracle. | CloudspiritOption 4.0 | 2 | ||
Reinsberg Group | Reinsberg Group is a manufacturer and supplier of medical equipment based in the Czech Republic. | Rein Medical | 1 |
Public tech companies in Switzerland
Roche is Switzerland's largest publicly listed tech company, with a market cap of $330B.
See all public companies in Switzerland| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Roche | Roche is a Swiss biopharmaceutical and diagnostic company. The firm's bestselling pharmaceutical products include a variety of oncology therapies from acquired partner Genentech, and its diagnostics group was bolstered by the acquisition of Ventana in 2008. Oncology products account for 50% of pharmaceutical sales, and centralized and point-of-care diagnostics for more than half of diagnostic-related sales. | $51.81 | +27.4% | $330B | $353B | 4.4x | ||
ABB | ABB supplies electrical equipment and automation products. Founded in the late 19th century, the company was created out of the merger of two old industrial companies: ASEA and BBC. Its products include electrical equipment, industrial robots, and equipment used for industrial automation, sold via approximately 19 business divisions. ABB is the number-one or -two supplier in two-thirds of its product segments. | $104.48 | +76.2% | $190B | $193B | 5.5x | ||
STMicroelectronics | A merger between Italian firm SGS Microelettronica and the nonmilitary business of Thomson Semiconducteurs in France formed STMicroelectronics in 1987. STMicroelectronics is a leader in a variety of semiconductor products, including analog chips, discrete power semiconductors, microcontrollers, and sensors. It is an especially prominent chip supplier to the industrial and automotive industries. | $64.15 | +155.1% | $57B | $55B | 4.4x | ||
Garmin | Garmin produces GPS-enabled hardware and software for five sectors: fitness, outdoors, automotive, aviation, and marine. Garmin has built a strong reputation for durable, high-precision devices through a vertically integrated design and manufacturing approach. The company’s product lines include smartwatches, fitness trackers, communication equipment, and a comprehensive suite of systems for marine and aviation navigation. Garmin operates globally, with its business focused primarily on North America and Europe. | $239.78 | +18.1% | $46B | $44B | 5.8x | ||
Schindler Group | Switzerland-based Schindler is a top-four global supplier of elevators and escalators. The business generates revenue in three ways: selling new elevators and escalators, modernizing old equipment, and servicing existing installations. Most of the company's profit comes from the last activity, where contracts are rolled over annually with built-in price increases. Ninety percent of its business is in elevators, which are more numerous globally than escalators. Its business model is similar to that of closest competitors Otis, Kone, and TK Elevator. | $322.44 | -11.5% | $34B | $30B | 2.1x | ||
Alcon | Alcon is one of the leading visioncare companies in the world. Following nine years as a Novartis subsidiary, it was spun off as a public company in April 2019. Alcon operates in two segments: visioncare and surgical. Visioncare comprises contact lenses, lenscare solutions, and a suite of ocular health products. With brands like Dailies, Total1, and Air Optix, Alcon controls about one fourth of the US contact lens market. Surgical comprises intraocular lenses, ophthalmic surgical equipment, and consumables used during surgeries. Its main products include Centurion, a phacoemulsification device used during cataract surgeries, and a portfolio of IOLs including PanOptix and Vivity. Alcon has one of the largest installed bases of eye surgical equipment in the world. | $67.44 | -21.6% | $33B | $36B | 3.5x | ||
VAT Group | VAT Group AG manufactures and sells valves that are used in machines. The company has two segments. The Valves segment which is a developer, manufacturer and supplier of vacuum valves for the semiconductor, displays, photovoltaics and vacuum coating industries as well as for the industrial and research sector. The second segment, Global Service, provides local support to customers and offers spare parts, repairs and upgrades.. The company derives maximum revenue from the Valves segment. The company derives maximum revenue from China. | $759.42 | +90.6% | $23B | $23B | 16x | ||
SGS | Switzerland-listed SGS is the largest and one of the oldest companies in the testing, inspection, and certification industry. The company's primary activities involve testing products and materials, inspecting sites/industrial equipment, and certifying products and systems to ensure global/company standards. SGS is one of only three TIC companies operating globally across agriculture, food, life sciences, and transportation services. SGS was first listed in 1981 and employs almost 100,000 people worldwide. | $111.19 | +1.7% | $22B | $25B | 2.7x | ||
Sonova | Sonova is one of the world's largest manufacturers and distributors of hearing aids. The company is based in Switzerland and distributes its products in more than 100 countries through its internal sales team and independent retailers. It also sells cochlear implants and audio technologies. | $259.24 | -21.0% | $15B | $17B | 3.6x | ||
Belimo | Belimo Holding AG is engaged in the development, production, and sales of field devices for the energy-efficient control of heating, ventilation, and air-conditioning system. The focus of the core business is on damper actuators, control valves, sensors, and meters, such as fire damper actuators, valve actuators, globe valves, throttle valves, duct sensors (air), and outdoor sensors (air), among others. The company, along with its subsidiaries, has four reportable operating segments: EMEA, Americas, Asia Pacific, and Shared Services. Maximum revenue for the company is generated from the Americas. | $984.22 | -2.7% | $12B | $12B | 7.9x | ||
Swissquote | Swissquote Group Holding SA is engaged in providing online financial and trading services. It provides a comprehensive suite of online financial services to a broad spectrum of customers, ranging from retail investors, affluent investors to professional and institutional customers. The Group operates through Swissquote Bank Ltd and globally under the Swissquote brand. It has two segments namely the Securities trading and the Leveraged forex. The Group’s revenues are mainly generated by a transaction fee for each transaction. Swissquote’s core competencies include stock market trading, trading and custody of crypto assets, Forex trading and the Robo-Advisor solution. In addition, Swissquote is active in the payment card, mortgage and leasing markets. | $509.33 | -18.8% | $7.6B | $7.0B | 7.5x | ||
Temenos | Temenos is a Swiss company that provides banking software to financial institutions around the world. Its main product is core banking software that helps banks manage accounts, customer information, transaction processing, loans, security, and financial reporting. Besides core banking software, Temenos offers products for digital banking, payments, wealth management, compliance, and analytics to help banks improve customer experience and meet regulatory requirements. | $85.01 | +9.3% | $5.7B | $6.4B | 5.8x | ||
Ypsomed | Ypsomed Holding AG is a Swiss company that develops and manufactures injection and infusion systems that allow patients to self-administer medication. Specifically, the company focuses on ensuring the ease of diabetes and insulin injection. The company offers various products such as pen needles with a click-on function. The company operates under two reportable segments: Ypsomed Delivery Systems and Ypsomed Diabetes Care. | $415.80 | -19.6% | $5.5B | $5.8B | 6.2x | ||
INFICON | Inficon Holding AG operates in the technology sector in Switzerland. It caters to the scientific equipment industry by offering products that find their use in various industrial applications such as air conditioning, automotive manufacturing, manufacture of LEDs, semiconductors, and optical and solar devices. Its main products are leak detectors and gauges which help reduce the harmful effects of gases on the environment and reduce energy consumption. The other products in its portfolio comprise chemical detectors, electron beam gun control, mass spectrometers, gas concentration monitors, vacuum gauge controllers and cables, and vacuum transmitters. The Asia Pacific region accounts for majority of the company's product sales. | $203.07 | +65.1% | $5.0B | $4.9B | 7.0x | ||
Sportradar | Sportradar Group AG is a technology platform enabling next-generation engagement in sports, and a provider of B2B solutions to the sports betting industry. It generates revenue through two primary sources: subscription-based revenue and revenue sharing. Geographically, it operates in North America, Africa, AsiaPac & Middle East, Europe, and LATAM & Caribbean. | $13.01 | -45.6% | $3.8B | $3.5B | 2.2x |
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 Switzerland and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in Switzerland.

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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