38% of sellers utilized SaaS business models and at least 17% were developing AI technologies during the first nine months of 2024. Speaking of deal sizes, disclosed M&A transaction values for the sector ranged from $0.08M to $1.275B, with the median disclosed M&A value coming in at $12M. The Telecom Integration subsector saw the highest disclosed valuations at 8.1 times revenue followed by Email & Message Security at 6 times sales.