Megabuyte CEOBarometer Podcast: Q4 2025

Megabuyte CEOBarometer Podcast: Q2 2026

This quarter’s CEOBarometer captures a sharp shift in the UK tech landscape, as three powerful forces converge: rising geopolitical uncertainty, a rapid repricing of software driven by AI disruption, and tightening dynamics in private capital markets. While headline growth expectations remain modestly positive, sentiment has deteriorated, sales cycles are lengthening again, and confidence across boards, investors, and buyers is becoming more fragile. Against this backdrop, we explore what’s being described as a “SaaSpocalypse” – not as the end of software, but as a fundamental reset in how value, defensibility, and competitive advantage are assessed in an AI-native world. We examine the growing disconnect between market sentiment and underlying business realities, the implications for valuations and deal activity, and why software transactions are likely to slow significantly as investors reassess risk and long-term strategy. The episode also unpacks the evolving role of private credit and its indirect impact on UK tech, alongside a detailed view on growth expectations, capital markets, private equity, venture activity, and M&A trends. Throughout, the focus is on what this moment demands from leadership teams: a far more rigorous, CEO-led approach to AI strategy, tighter alignment with investors, and a clear-eyed view of where sustainable value will be created as the market moves into a more selective and unforgiving phase.   Timings and topics covered  00:00 - Market Reset: The “Three Horsemen” - Geopolitics, AI-driven software disruption, and private capital dynamics combine to weaken sentiment and reshape the outlook for UK tech. 07:19 - AI, Software & the “SaaS Apocalypse”- What’s really happening behind the AI hype, why software valuations are resetting, and how investor behaviour is shifting. 22:07 - Capital & Strategy Implications - Private debt, leverage, and funding dynamics — plus what boards must do now, with AI strategy becoming a CEO-level priority. 39:15 - Growth & Capital Markets - Updated growth expectations, continued weakness in IPOs and fund-raising, and ongoing de-equitisation trends. 48:30 - Deal Activity: PE, VC & M&A - Bifurcation in private equity, resurgence in AI-led venture funding, and diverging trends across software and ICT services M&A.

Megabuyte CEOBarometer Podcast: Q1 2026

This quarter’s CEOBarometer marks the start of a new year with a UK tech sector still operating in a tough environment – but with clearer signals about where value creation will (and won’t) come from over the rest of the decade. Growth across Software and ICT Services remains constrained after a disappointing 2025, capital markets continue to underserve the sector, and deal activity is selective rather than expansive. Against that backdrop, we step back from short-term forecasts and focus on the six strategic themes Megabuyte believes boards must prioritise in 2026 – from AI market impact and pricing models to organic growth, people strategy, and the future shape of M&A. We explore why tactical AI initiatives are no longer enough, how deflationary dynamics are reshaping Software and Services business models, why traditional roll-up strategies face diminishing returns, and what the “AI Goldilocks period” really means for long-term value creation. As ever, we ground the discussion in hard data on growth, valuations, capital flows, private equity, venture capital, and M&A. The episode also looks ahead to Megabuyte’s 2026 events programme, where these themes will be explored in depth across specific markets and sectors. Timings 00:40 – 2026 Key Trends for 2026: Six priorities for boards in 2026, with AI reshaping strategy, pricing, growth, people, and M&A. 22:59 – Growth & Trading: 2025 underdelivered across Software and ICT Services, with modest improvement emerging late in the year. 32:11 – Capital Markets: Valuations remain low, IPO and fund-raising activity scarce, and de-equitisation accelerating. 42:06 – Private Equity: Capital remains available for high-quality assets, but selectivity has increased sharply. 49:42 – Venture Capital: Fewer deals, stable capital volumes, and continued pressure at the early stage. 56:20 – M&A: Lower volumes, reset valuations, and a shift toward more strategic, capability-led deals.

Megabuyte CEOBarometer Podcast: Q4 2025

This quarter’s CEOBarometer analyses a UK tech sector showing signs of stabilisation but still struggling to regain pre-COVID momentum. Growth across Software has levelled off while ICT Services remain under pressure, and capital markets and private equity deal flow are subdued. We look at why 2025 has disappointed, what cautious optimism for 2026 looks like, and how vertical focus, disciplined go-to-market execution, and realistic budgeting will define success for companies. Plus, we look ahead to Megabuyte’s 2026 events programme and the State-of-the-Nation event in January, which will set the agenda for tech boardrooms – from AI and growth strategy to financial benchmarking and M&A.   Timestamps: * 00:50 - Megabuyte 2026 Events: Preview of the 2026 events programme, including the State-of-the-Nation on 29 Jan. * 08:30 - Growth Outlook: Stabilisation without rebound, and what “flat being good” says about 2025 performance. * 19:07 - Capital Markets: Minimal IPO and fund-raising activity, and valuations still under pressure. * 29:26 - Private Equity, Venture & Growth Capital: Selective investors, continued “flight to quality,” and cautious appetite for mid-market deals. * 48:27 - M&A: Deal volumes low but standout assets still command premium multiples; Software outperforming ICT Services. About this podcast Our quarterly podcast offers a clear, strategic perspective on the forces shaping the UK tech sector—M&A, capital flows, valuations, AI, and more. Hosted by Megabuyte’s Founder & Chairman, Ian Spence, and Megabuyte’s Head of Research & Consulting, Neel Arampatta, the CEOBarometer is designed for CxOs of scale-ups and mid-market companies who value depth over noise. Learn how at www.megabuyte.com [https://bit.ly/3XvTpAf] or search ‘Megabuyte for CxOs’.   Transcript available here [https://mb-ceohub.s3.eu-west-1.amazonaws.com/Megabuyte+CEOBarometer+Podcast+Q4+2025.pdf] or save for offline by hitting 'Download' above

Megabuyte CEOBarometer Podcast: Q3 2025

This quarter’s CEOBarometer dives into the realities of a UK tech sector that entered 2025 expecting growth but is instead facing slower trading, elongated sales cycles, and selective capital. We explore the standouts bucking the trend - from ICT players like Wireless Logic to software innovators like Nervecentre and Origin - and unpack how AI adoption, capital market shifts, private equity’s “flight to quality,” and selective M&A are reshaping the landscape. The takeaway? In today’s market, success comes down to sharp positioning, clear focus, and strong execution. Timestamps: * 01:16 - Growth Outlook - Who’s outpacing the slowdown and how they’re doing it. * 15:11 - AI in Action - MSPs transform with automation; vertical AI gains serious traction. * 39:53 - Capital Markets - UK tech stocks surge; could Visma’s IPO land in London? * 48.30 - Private Equity, Venture & Growth Capital - Premium deals for top performers despite cautious capital. * 54:20 - M&A - Selective buyers, standout valuations, and SS&C’s £800m+ Calastone play. Transcript available here [https://mb-ceohub.s3.eu-west-1.amazonaws.com/Megabuyte+CEOBarometer+Podcast+Q3+2025+-+Transcript.docx] or save for offline by hitting 'Download' above About this podcast Our quarterly podcast offers a clear, strategic perspective on the forces shaping the UK tech sector—M&A, capital flows, valuations, AI, and more. Hosted by Megabuyte’s Founder & Chairman, Ian Spence, and Megabuyte’s Head of Research & Consulting, Neel Arampatta, the CEOBarometer is designed for CxOs of scale-ups and mid-market companies who value depth over noise. Learn how at www.megabuyte.com [https://bit.ly/3XvTpAf] or search ‘Megabuyte for CxOs’.

Megabuyte CEOBarometer Podcast: Q2 2025

This quarter’s CEOBarometer spotlights subdued trading conditions, faltering investment flows, and the selective rise of AI. Organic growth has slowed across the board—Software companies posted 13% growth, while ICT Services lagged at 7%. The deceleration is sharpest in consulting services, where low recurring revenue and discretionary budget cuts have driven many businesses into stagnation. In contrast, recurring revenue models continue to provide resilience in Software, where growth has largely stabilised at pre-COVID levels. Despite these challenges, standout performers in areas like cybersecurity and defence—such as Bridewell, DIGI2AL, and FSP—are still delivering strong double-digit growth, proving that execution and sector positioning remain critical. The investment landscape also reflects mounting caution. UK-listed tech valuations have dipped below 10x EV/EBITDA, IPO activity remains stalled, and private equity deal volumes have halved year-on-year. Meanwhile rising debt levels and cash interest payments continue to cause stress for some. While top-tier software firms continue to command strong multiples, ICT Services valuations—particularly in consulting—have seen a significant reset. Venture funding tells a two-speed story: capital remains available for late-stage, AI-native businesses such as Quantexa and Luminance, but pre-Series A funding has collapsed, narrowing the pipeline for future investment. As the sector recalibrates, this episode offers critical insights into where growth is holding up, where confidence is fading, and what tech leaders need to consider as they navigate another year of cautious optimism and selective momentum. Transcript available here [https://mb-ceohub.s3.eu-west-1.amazonaws.com/Megabuyte+CEOBarometer+Podcast+Q2+2025+-+Transcript.docx] or save for offline by hitting 'Download' above About this podcast Our quarterly podcast offers a clear, strategic perspective on the forces shaping the UK tech sector—M&A, capital flows, valuations, AI, and more. Hosted by Megabuyte’s Founder & Chairman, Ian Spence, and Megabuyte’s Head of Research & Consulting, Neel Arampatta, the CEOBarometer is designed for CxOs of scale-ups and mid-market companies who value depth over noise. Learn how at www.megabuyte.com [https://bit.ly/3XvTpAf] or search ‘Megabuyte for CxOs’. Skip to: Growth Outlook 01m 37s Capital Markets 22m 20s Private Equity 33m 57s Venture & Growth Capital 55m 56s M&A 01h 01m 18s