What technology businesses sell for in Australia
- Australia8.0 times EBITDA, middle half 5.5 to 10.0, 100+ deals
- New Zealand7.0 times EBITDA, middle half 5.5 to 9.5, 10+ deals
- United Kingdom11.5 times EBITDA, middle half 7.0 to 14.5, 30+ deals
- United States8.0 times EBITDA, middle half 6.0 to 12.5, 50+ deals
- Canada8.0 times EBITDA, middle half 6.0 to 12.0, 20+ deals
Source: deals in our database with a published value and an EBITDA multiple, from company filings, experts' reports and press reports. Medians by onestepright.
- 2010 to 20148.0 times EBITDA, middle half 7.0 to 10.0, 20+ deals
- 2015 to 20198.0 times EBITDA, middle half 5.5 to 10.5, 30+ deals
- 2020 to 20266.5 times EBITDA, middle half 5.0 to 8.5, 30+ deals
Source: deals in our database with a published value and an EBITDA multiple, from company filings, experts' reports and press reports. Medians by onestepright.
| Multiple | Size (A$) | Median (times) | Middle half | Deals | Years |
|---|---|---|---|---|---|
| EBITDA | A$10m to A$500m | 8.0 | 5.5 to 10.0 | 100+ | 2006 to 2026 |
| EBITDA | A$500m to A$2bn | 12.5 | 10.0 to 14.5 | 20+ | 2005 to 2026 |
| EBITDA | Under A$2bn | 8.0 | 5.5 to 10.5 | 100+ | 2005 to 2026 |
| EBITDA | All deals | 8.5 | 5.5 to 11.5 | 100+ | 2005 to 2026 |
| EBIT | A$10m to A$500m | 14.5 | 11.5 to 16.0 | 10+ | 2008 to 2021 |
| EBIT | Under A$2bn | 16.0 | 13.0 to 19.0 | 20+ | 2005 to 2021 |
| Revenue | A$10m to A$500m | 2.6 | 1.3 to 5.0 | 30+ | 2015 to 2025 |
| Revenue | Under A$2bn | 3.9 | 1.8 to 7.0 | 50+ | 2015 to 2025 |
| Revenue | All deals | 3.9 | 1.8 to 6.8 | 50+ | 2015 to 2025 |
Only deals with a published value count in a size band.
Most of these deals had a listed buyer or an independent expert's report. Treat them as a rough guide to what buyers paid.
Used where earnings are small or negative. Margins vary widely, so treat it as a rough guide.
Technology, software, media and telecommunications: median 8.0 times EBITDA. The middle half of deals ran from 5.5 to 10.0 times (100+ deals of A$10 million to A$500 million, announced 2006 to 2026).
Where deals also reported EBIT or revenue, those multiples follow. EBIT is EBITDA less depreciation and amortisation.
Times EBIT. Technology, software, media and telecommunications: median 14.5 times EBIT. The middle half of deals ran from 11.5 to 16.0 times (10+ deals of A$10 million to A$500 million, announced 2008 to 2021).
Times revenue. Technology, software, media and telecommunications: median 2.6 times revenue. The middle half of deals ran from 1.3 to 5.0 times (30+ deals of A$10 million to A$500 million, announced 2015 to 2025).
Used where earnings are small or negative. Margins vary widely, so treat it as a rough guide.
These are reported multiples of EBITDA from Australian business sales. They show where buyers' prices landed.
Deals updated October 2026
Most of these deals had a listed buyer or appear in an independent expert's report. They span more than one market cycle. Treat them as a rough guide to what buyers paid, and expect your own figure to differ.
Some deals did not publish their enterprise value. They are left out wherever a deal size is shown.
The page covers software, IT services, media and telecommunications businesses bought in Australia. Where a part of the sector has enough deals of its own, it has its own line and page below.
Within technology
- Telecommunications and networks: median 8.0 times EBITDA. The middle half of deals ran from 6.0 to 10.0 times (20+ deals of A$10 million to A$500 million, announced 2008 to 2025).
- IT services: median 7.0 times EBITDA. The middle half of deals ran from 5.0 to 9.0 times (30+ deals of A$10 million to A$500 million, announced 2012 to 2023).
- Broadcasting (TV and radio): median 7.5 times EBITDA. The middle half of deals ran from 6.0 to 8.0 times (10+ deals of A$10 million to A$500 million, announced 2007 to 2021).
- Software: median 10.0 times EBITDA. The middle half of deals ran from 8.0 to 12.0 times (10+ deals of A$10 million to A$500 million, announced 2011 to 2024).
- Hosting and colocation (small businesses): median 4.0 times EBITDA (5+ deals under A$2 billion, announced 2015 to 2021).
- Data and information services: median 11.5 times EBITDA (5+ deals under A$2 billion, announced 2005 to 2015).
- Publishing and print media: median 8.0 times EBITDA (5+ deals announced 2006 to 2019).
- Web hosting and domains: median 8.5 times EBITDA (5+ deals of A$10 million to A$500 million, announced 2014 to 2019).
- Technology, software, media and telecommunications, other: median 6.5 times EBITDA (5+ deals of A$10 million to A$500 million, announced 2020 to 2026). Some figures in this sector come from press reports. The rest come from company documents.
By period and deal size
Where enough deals sit in a narrower cut, its line appears here.
- Since 2015. Technology, software, media and telecommunications: median 7.0 times EBITDA. The middle half of deals ran from 5.0 to 9.0 times (50+ deals of A$10 million to A$500 million, announced 2015 to 2026).
- Since 2021. Technology, software, media and telecommunications: median 6.5 times EBITDA. The middle half of deals ran from 4.5 to 9.0 times (30+ deals of A$10 million to A$500 million, announced 2021 to 2026).
- All years. Technology, software, media and telecommunications: median 12.5 times EBITDA. The middle half of deals ran from 10.0 to 14.5 times (20+ deals of A$500 million to A$2 billion, announced 2005 to 2026).
- Since 2015. Technology, software, media and telecommunications: median 12.0 times EBITDA. The middle half of deals ran from 9.0 to 14.5 times (10+ deals of A$500 million to A$2 billion, announced 2015 to 2026).
- All years. Technology, software, media and telecommunications: median 8.0 times EBITDA. The middle half of deals ran from 5.5 to 10.5 times (100+ deals under A$2 billion, announced 2005 to 2026).
- Since 2015. Technology, software, media and telecommunications: median 7.0 times EBITDA. The middle half of deals ran from 5.0 to 9.5 times (100+ deals under A$2 billion, announced 2015 to 2026).
- Since 2021. Technology, software, media and telecommunications: median 6.5 times EBITDA. The middle half of deals ran from 4.5 to 9.0 times (30+ deals under A$2 billion, announced 2021 to 2026).
- All years. Technology, software, media and telecommunications: median 8.5 times EBITDA. The middle half of deals ran from 5.5 to 11.5 times (100+ deals announced 2005 to 2026).
- Since 2015. Technology, software, media and telecommunications: median 7.5 times EBITDA. The middle half of deals ran from 5.0 to 10.5 times (100+ deals announced 2015 to 2026).
- Since 2021. Technology, software, media and telecommunications: median 7.5 times EBITDA. The middle half of deals ran from 5.0 to 13.0 times (30+ deals announced 2021 to 2026).
Deals where the multiple was stated
In these deals the buyer, or an independent expert, stated the multiple in a public document. Each links to the company's own copy.
- Nexgen Investment Group Pty Ltd (sold by Infotrust Ltd, ASX:ITS), bought by Aussie Broadband Ltd, 2026-02-23: 7.0 times EBITDA as stated (FY25 EBITDA). Source
- Vonex Ltd, independent expert's valuation by Titan Partners Corporate Finance, 2025-07-29: 5.8 times EBITDA as stated (The independent expert's valuation, on trailing FY24 EBITDA, underlying). Source
- Exetel, bought by Superloop Ltd, 2021-06: 10.0 times EBITDA as stated (Forward FY21 EBITDA). No company copy to link.
- ComActivity, bought by Atturra Ltd, : 6.95 times EBITDA as stated (Forward EBITDA). No company copy to link.
What moved the multiple in these deals
- Larger deals sold for higher multiples than smaller ones.
- Listed companies sold for higher multiples than private businesses.
How to read the range
The median is the middle deal. Half the deals sold for more and half for less. Where a line gives a middle half, a quarter of the deals sold below it and a quarter sold above it.
The band says how many deals stand behind the line. A band of 5+ means at least five. Under ten deals, a line shows the median only. Fewer deals leave more room for error, so read a 5+ line with more care than a 50+ one.
The years are when the deals were announced. Multiples rise and fall with interest rates and share prices, so a long span mixes strong years with weak ones.
A buyer applies the multiple to the EBITDA it accepts after due diligence. Two businesses with the same EBITDA can sell at different multiples, for the reasons below.
What moves a multiple up or down
- Size. Larger businesses usually sell at higher multiples than smaller ones in the same sector.
- Growth and margin. Growth a buyer can see in the run-rate, and steady margins, raise the multiple. A plan the record does not support does not.
- Who buys. Investment funds and companies buying a business pay for different things, so they can pay different multiples for the same business.
- Recurring revenue. Revenue under contract or from repeat customers raises the multiple. One-off project revenue lowers it.
- Customer concentration. A few large customers lower the multiple, because losing one would cut earnings.
- Dependence on the owner. A business that needs its owner to win and keep customers sells for less, or with an earn-out.
How listed companies compare
Listed companies trade every day, and most are larger than the businesses in these deals. Their multiples usually sit above what a private business sells for. Read them as context for the deal figures.
Listed companies in Australia, New Zealand and Canada traded at 12.0 times their combined EBITDA in January 2026. Source: Aswath Damodaran, NYU Stern, data as of January 2026.
Where would yours sit?
The range tells you where deals landed. Where would yours sit?
- Put your own figures through the exit value bridge. It splits value at exit into EBITDA growth, the change in multiple and lower net debt, on multiples you choose.
- Take the seller check. About twenty-five questions on what a buyer's team will ask, before they ask it.
- Take the Strategy check. A buyer prices the plan it believes. The check shows where your strategy practices stand.
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For advisers and brokers
Using these figures with clients? We are deciding whether to build sourced reports and data exports. Nothing is for sale yet. Tell us if you would use them.
Questions
Does this value my business? No. It shows what buyers paid for other businesses in the sector. A buyer sets the multiple for a particular business after testing its earnings, its customers and its plan. The earnings calculator multiplies your own EBITDA by these multiples. That is arithmetic on reported deals, and still not a valuation.
Where do the figures come from? From company announcements and independent experts' reports on Australian businesses that were bought. Each figure is enterprise value over EBITDA. Some are stated in the source. The rest are worked out from the price and earnings it reports, and a second reader checks each one.
Why do these deals lean to larger businesses? A listed company usually announces a large purchase, and a takeover comes with an independent expert's report. Private sales of smaller businesses rarely publish a multiple.
How often do the figures change? Whenever deals are added. Each page shows the date it was last updated.
Related
Updated 2026-10-08.