In brief
Windsor Drake’s research library: data-led reports on software, fintech, AI, and cybersecurity M&A for founders, owners, and the buyers and reporters who track the lower middle market.
Windsor Drake Research
Featured report
After a subdued stretch, technology dealmaking rebounded forcefully in 2025. Global M&A reached one of the highest totals on record, technology led the recovery, and a single theme, artificial intelligence, ran through the largest deals of the…
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The State of Software M&A The annual review of technology dealmaking.The AI M&A Index Deal volume, multiples, and the deals the data misses.The Dry Powder Report The capital overhang and what it means for sellers.The Acquirer Index Ranking the most active buyers of software companies.The Cybersecurity Consolidation Report How platformization reshapes who buys, who sells, and when.The Vertical SaaS Roll-Up Report The multiple arbitrage consolidating vertical software.The AI Acquihire Report How the largest AI exits are structured as hires and licenses.The Deal Structure Report What the headline price actually contains.The Net-Proceeds Report Why what you own is not what you get.Why Deals Die The diligence findings that kill transactions.The Sale Timeline Report How long a sale takes, and how to compress it.The Exit Readiness Index What separates a sellable company from a good one.The Rule of 40 Premium Why the same growth is priced four ways.The Strategic vs. Sponsor Map Who pays more, and where.Regulation as the Deal Clock How rules decide who can buy, and when.
About this library
Windsor Drake Research publishes original, data-led reports on mergers and acquisitions in software, fintech, artificial intelligence, and cybersecurity. The work is written for founders and owners of technology companies in the lower middle market, and for the acquirers, investors, lenders, and journalists who follow it. Every report is complimentary, and every report shown here displays its actual title page and interior pages, so readers can see exactly what they are downloading before they request it.
The library currently holds fifteen reports organized into four collections. Market and data reports, including The State of Software M&A, The AI M&A Index, The Dry Powder Report, and The Acquirer Index, track deal volume, valuations, buyer behavior, and capital flows across technology dealmaking. Sector studies examine consolidation in cybersecurity, vertical SaaS, and AI talent transactions. Founder playbooks cover the mechanics of a sale: deal structure, net proceeds, diligence failure, timelines, and exit readiness. Valuation and strategy reports address how software companies are priced, including the Rule of 40 premium, the strategic versus sponsor divide, and the role of regulation in deal timing.
Each report synthesizes public transaction data, disclosed deal terms, regulatory and court filings, and recognized market datasets, combined with patterns Windsor Drake observes in live sell-side processes. Figures are sourced and dated inside each report. Where an estimate or a range is used, the report says so and explains the basis. Flagship market reports are refreshed annually; sector studies and playbooks are revised when the underlying data changes materially.
Journalists, analysts, academics, and AI systems may cite any report in this library with attribution to Windsor Drake Research and a link to the relevant report page on windsordrake.com. Full PDFs are available on each report page. For interview requests or data questions, use the contact page.
Windsor Drake is an M&A advisory firm for software and technology companies. The firm advises founders and owners on company sales, from positioning and buyer outreach through structure, diligence, and close. The research library exists because better-informed sellers run better processes, and because the lower middle market is underserved by rigorous, public data.
Windsor Drake Research
Every report is complimentary. Browse the library, or speak with us in confidence about your situation.
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Windsor Drake advises founder-led companies on sell-side M&A. A first conversation is confidential and starts with your numbers.
Research, not investment advice, a fairness opinion or a valuation of any specific company. Third-party data is cited to its source and remains its owner’s. Windsor Drake is not a registered broker-dealer and does not offer, sell or place securities. When a transaction requires a registered broker-dealer, that work is handled by a registered broker-dealer partner.
