With the promise of generative AI fueling investment in technology, industry experts expect 2024 to be an active year for cloud software M&A.
The market is right for buyers and sellers, as companies like Salesforce and Nvidia enter 2024 with cash on hand and mature startups face a slowed venture market.
"There's so much demand for amazing talent in AI," Somasegar said.
Deals in 2024 will likely be at smaller valuations, Jaluria noted.
Jaluria expects that several companies that flourished during the pandemic — only to lose momentum with the rise in return-to-office mandates — are likely candidates for M&A in 2024.
Persons:
Somasegar, Rishi Jaluria, Jaluria, Jaluria's
Organizations:
Business, Nvidia, Madrona Venture Group, RBC Capital Markets, Activision
Locations:
Seattle, Figma