In a landscape characterized by resilience, DACH M&A has witnessed an impressive surge, boasting a record-breaking 191 deals in 2022 and another 191 deals in 2023, 63 more deals than in 2021. Foreign buyers have taken center stage since 2019, eclipsing domestic players, with acquirers from the US commanding on average 60% of deal value over the past three years. US-Private Equity investors and their portfolio companies remain the most attractive acquirers, paying substantial premiums. The most active sectors in the DACH region are FinTech, MarTech, Industrial Technology, and HCIT, all reaching deal counts above 70 over the last six years. Amidst macroeconomic concerns, a thriving universe of promising technology and software companies live in the DACH region, exemplified by AGC's universe of 700 DACH-based and fast-growing tech firms.