Data centre deals and SaaS multiples: What SME founders must know now
September’s tech market in Australia and New Zealand didn’t slow down, even as broader indices softened. Infrastructure and SaaS continue to attract premium valuations, with data centres trading at 46.2x EV/NTM EBITDA and networking at 15.1x EV/NTM revenue. These numbers are impressive and directional. They signal where capital is flowing and what buyers are prioritising.
For SME founders, especially those in tech-adjacent sectors, this is a moment to reassess. Whether you're preparing for a sale, raising capital, or refining your growth strategy, understanding how buyers are valuing infrastructure and software is essential. At Morgan Shaw Advisory, we help clients navigate these shifts with precision, using our EBITDA+ SIX STEPS TO SUCCESS™ framework to maximise outcomes.
Why this matters now
The ANZ tech market is buzzing with activity. Atlassian made two major acquisitions totalling US$1.61bn, while Advent and Caterpillar moved on Automic and RPMGlobal respectively. Capital raising is also surging, with Firmus securing A$330m for AI-optimised data centres and PsiQuantum reaching a A$10.6bn valuation.
These moves reflect a broader trend: buyers are prioritising scalable infrastructure, defensible SaaS, and strategic fit. If your business touches these areas, now is the time to tune your metrics and narrative to match what buyers are looking for.
What SME owners should watch
Infrastructure is commanding premium multiples
Data centres and networking assets are trading at levels rarely seen in the region. This is driven by demand for AI-ready infrastructure, low-latency connectivity, and energy-efficient design. If your business supports or enables these capabilities, you may be sitting on undervalued assets.
SaaS remains resilient
Global SaaS and IT services posted gains in September, with EdTech leading the pack at +14 percent. Buyers are still paying for quality, especially platforms with strong retention, vertical integration, or compliance features.
Cross-border buyers are accelerating
Inbound M&A is up 101 percent year-on-year, with Japan and the United States leading the charge. If your business is relevant to a “build versus buy” decision, expect faster cycles and more strategic interest.
How MSA helps founders prepare
At Morgan Shaw Advisory, we guide founders through our EBITDA+ SIX STEPS TO SUCCESS™ framework:
Benchmark valuation against current market comps
Build a compelling equity story tailored to strategic buyers
Prepare for diligence with clean data and governance
Identify buyer personas and map strategic fit
Create competitive tension through structured processes
Close with confidence by managing negotiations and post-deal integration
This framework helps SME owners move from reactive to proactive, especially in fast-moving markets.
What to do next
Review your KPIs: Are they aligned with what infrastructure and SaaS buyers value?
Map your strategic fit: Could your business be a bolt-on or platform play?
Prepare your data room: A well-organised set of materials can accelerate buyer interest.
Engage early: Waiting for the perfect time often means missing the window.
Talk to advisors: A second opinion can reveal hidden value or risks.
Ready to act?
If you're considering a sale, capital raise, or strategic partnership, now is the time to prepare. Book a confidential strategy session with MSA to assess your readiness and position for premium outcomes.
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