In 2026, the French tech M&A market is bucking the trend. While SME business transfers are declining overall in France, the Technology, Media, and Telecommunications (TMT) sector continues to close deals and gain prominence in the economy. According to the 10th edition of the “Regions & Business Transfers” report by In Extenso Finance and Epsilon Research (April 2026), TMT transactions are up 21% and alone account for more than 40% of SME mergers and acquisitions, while other sectors are stagnating or declining. In this context, every merger or acquisition tells the same story: companies seeking greater scale, more innovation, and greater resilience in an environment where competition for talent, technology, and markets shows no signs of letting up.
The 10 Largest M&A Deals in the Tech Sector in France in theFirst Half of 2026:
- Montefiore Investment – Takes a Stake in Arche MC2
Arche MC2 (revenue: €70 million), a software publisher specializing in the medical-social sector, has brought on a new shareholder—the investment fund Montefiore Investment, a partner recognized for its industry expertise and experience working with rapidly growing companies—to support the group’s expansion into neighboring countries. Montefiore Investment is partnering on an equal footing with Activa Capital, the group’s long-standing investor.
- TeamSystem SPA – Acquisition of ACD Group
The Tourangeau ACD Group (revenue: €37 million, >300 employees), a major player in the accounting profession in France with over 40 years of experience serving 3,500 firms, is joining the TeamSystem Group, an Italian technology giant specializing in artificial intelligence and the cloud, and a leader in the electronic invoicing reform in Italy. With revenue of one billion euros and sustained growth (through 2024), TeamSystem brings a solid industrial infrastructure to the table.
- Cerea Partners – Takes a Stake in the WIIO Group
To support the transfer of ownership from its outgoing Chairman, Fabien Dupuis, to its CEO, Adrien Soulier, the investment fund Cerea Partners, through its Mezzanine & Sponsorless fund, is acquiring a stake in the WIIO Group (Wireless Input Output—a major player in the field of IT solutions for identification, traceability, and mobility designed for logistics platforms, carriers, distributors, and manufacturers), as part of a sponsorless transaction structured around a bond financing and the acquisition of a minority stake in the company.
- Visma – acquires a minority stake in the full-service solution
Norwegian software publisher Visma (2025 revenue: €2.8 billion) is acquiring a minority stake in fulll, the SaaS provider founded by In Extenso that serves more than 250,000 clients with accounting and payroll solutions. The transaction, which was finalized earlier this year, comes just a few months before the widespread adoption of electronic invoicing and is expected to strengthen fulll’s market position.
- RadNet – Acquisition of Gleamer
The U.S.-based RadNet Group (2025 revenue: $2 billion), the largest U.S. provider of outpatient imaging and diagnostic services, is acquiring the French startup Gleamer—which specializes in artificial intelligence (AI) for radiology, mammography, MRI, and CT scans—for more than €200 million. The all-cash transaction is expected to total €230 million, including a “small portion” of an earn-out (an amount contingent on meeting certain targets), the exact amount of which has not been disclosed.
- Airbus – Acquisition of Quarkslab
European aircraft manufacturer Airbus is acquiring the French cybersecurity company Quarkslab (Paris and Rennes, 100 employees). This investment is part of Airbus’s strategy to consolidate its position as a trusted partner of French authorities and to strengthen its presence in the European cybersecurity market. Founded in 2011, Quarkslab specializes in areas such as reverse engineering, cryptography, software protection, and vulnerability research.
- Solocal – Acquisition of Arthur’in (formerly MyPassPro)
The Solocal Group (2025 revenue: €324.4 million), France’s leading digital marketing company, which supports local businesses—mid-sized companies, very small businesses, SMEs, major retailers, and local governments—in their digital transformation and business growth, has announced the signing of an agreement to acquire Artur’In (2025 revenue: €8 million), a pioneer in artificial intelligence that boosts the local digital presence of microbusinesses and SMEs. This modest-scale transaction, expected to close once the conditions precedent are satisfied, is part of Solocal’s transformation into an AI Company and will be financed with available cash. Founded in 2016, Artur’In has developed a turnkey platform that enables microbusinesses, SMEs, and chain businesses to transition from a static digital presence to dynamic, automated, and scalable communication using generative AI.
- Ekinops – Acquisition of Chimere
Ekinops (headquartered in Lannion, Department 22, Q2 2026 revenue: €30.6 million), a leading provider of optical networking, connectivity, and SASE solutions for service providers and enterprises, announced the signing of an agreement to acquire 100% of the equity of Chimere (headquartered in Aix-en-Provence/13), an innovative French cybersecurity specialist. Chimere offers a universal ZTNA (Zero Trust Network Access) solution that securely interconnects all endpoints with all corporate resources.
Chimere’s ZTNA solution offers a high-performance alternative to traditional enterprise VPN technologies and firewalls, supporting new use cases such as digital mobility, remote work, and third-party access. It is available on a subscription basis, in SaaS (Software as a Service), hybrid, or on-premises modes.
- Mitem France – Acquisition of Yzyfree
The Mitem France Group, led operationally by its founder Michel TEMAN, which aims to bring together several digital services companies offering consulting, project management, data and AI expertise, and infrastructure management (infrastructure, cybersecurity, cloud), has announced the acquisition of Izyfree, a company recognized for its technical depth and its ability to work on critical projects where requirements are at their highest.
- MyTower – Acquisition of TDI, Winddle, and Belharra E-SCM
French supply chain software publisher MyTower is accelerating the consolidation of the European market for software solutions dedicated to transportation, customs, and trade compliance. Backed since December 2025 by the Verto Growth fund, the group is joining forces with three recognized industry players—TDI, Winddle, and Belharra e-SCM—to build a leading European player in the transportation digitization market for industrial shippers and distributors.
TDI(headquartered in Lyon, 69) is a leading solution for multi-carrier shipment management, courier services, package label printing, and last-mile delivery.
Winddle ( headquartered in Paris/75) is a collaborative supply chain management platform for the fashion, retail, and industrial sectors that enables integrated management of supplier collaboration and international upstream and downstream transportation.
Belharra e-SCM (headquartered in Biarritz, Pyrénées-Atlantiques), is a solution recognized for its expertise in international supply chain management, supplier relationship management (SRM), and visibility into upstream supply chains (upstream TMS) for companies in the luxury, fashion, and textile industries.
Docoon, a major player in the electronic invoicing market
Reflecting a dynamic tech market—driven by industry momentum centered on the development of new growth areas (AI, cloud infrastructure, and data centers), as well as the emergence of digital sovereignty issues*—the Docoon Group has successfully anticipated and prepared for a major reform with the upcoming implementation of thefirst phase of the electronic invoicing reform.
*Read the op-ed by Victor Delancray, Sales and Marketing Director and Partner at Docoon: EXPERT OPINION – Why Does Electronic Invoicing Reinforce the Strategic Importance of the Sovereign Cloud?
First, through the 2024 acquisition of Neovacom, a leading player in digital transformation for the real estate and construction sectors—which became Docoon.immo in 2025—enabling the group to offer the Freedz Certified Platform (PA), tailored to the specific needs of public housing providers, local governments, and real estate and construction industry stakeholders. Second, through the success in 2026 of the marketing strategy for Docoon Invoice—the Group’s PA—in 2026. Rather than approaching end customers directly, Docoon chose to rely on a dense network of software publishers, integrators, and resellers who integrate the Docoon PA as a white-label or gray-label solution into their own offerings. This model allows partners to capitalize on the reform without having to bear the burden of certification, regulatory updates, and technical oversight themselves, while retaining control over customer relationships and business positioning. For its part, Docoon standardizes the processing of data flows, pools investments, and leverages economies of scale: this partnership-based approach drives a high rate of new client sign-ups and explains why the group feels justified in targeting 5 to 10% of the national volume of invoices once the reform is fully deployed 1.
⏩ (1) For more on this topic, see: Electronic Invoicing: Docoon Scales Up and Aims for 5 to 10% of the National Volume
