Q3 2023 AdTech and Marketing Services Industry Update

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GCG’s Q3 2023 AdTech and Marketing Services Industry Update provides an overview of the latest trends in the sector, including recent performance, valuation multiples, and the state of the middle-market M&A environment.

Key findings include the following:

  • Announced transactions continued to decline, with 86 announced deals in Q3 2023 compared to 100 in Q3 2022, representing a 14% year-over-year decrease. This is a slight increase from the prior quarter, as there were 84 announced transactions in Q2 2023.

  • Over the past year, AdTech public stocks outperformed the S&P 500 and NASDAQ composite indices, while Digital Marketing public stock performance continues to lag behind the aforementioned indices and stocks.

  • Strategic Buyers continue to dominate deal activity, as 92% of AdTech and Digital Marketing transactions in Q3 2023 involved a strategic acquirer.

Click here for the full update.


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