With deals such as the $3.6 billion take-private acquisition of Riverbed Technology and the $2.4 billion purchase of Blue Coat Systems, PE investors this year have already made some of the largest software investments we've seen. But while certain deals have been massive, global counts for the sector look to be slowing relative to recent years. With 142 completed transactions to date, 2015's pace appears unlikely to match last year's decade-high 366. On a quarterly trajectory, software deals have declined steadily (albeit slightly) from 98 transactions in 2Q 2014 to 84 in 1Q of this year. One growing trend has been consolidation, with add-ons accounting for over 44% of all 2015 deals thus far, compared to around 37% to 39% each year from 2011 to 2014.
Top PE investors in the software space over the last 12 months and their deal counts (incl. add-ons):