Wolf Theiss

M&A Spotlight: CEE / Wolf Theiss Corporate Monitor FY 2017

Welcome to the newest edition of the WOLF THEISS Corporate Monitor’s M&A Spotlight on Central and Eastern Europe ("CEE"), which we are proud to release in cooperation with Mergermarket, a leading intelligence and news service for mergers and acquisitions across the globe.


150 senior-level executives were asked to share their experiences and outlook on M&A in the CEE/SEE region. The study found that 62% of respondents cited TMT as one of the top two industries to watch out for in 2018, followed by consumer and leisure (44%) and pharma, medical and biotech (32%).

Other findings include:  

  • TMT sub-sectors seen as particularly promising are e-commerce, fintech, and data and analytics, each cited by 31% of respondents as among the top two most-appealing areas for investment. Cloud technology was not far behind, acknowledged by 30% of respondents.
  • The dynamism of emerging companies in the CEE tech sector is also prominent, with some start-ups citing growth of up to 200% a year. Indeed, 53% of survey respondents said that they were interested in acquiring or investing in a start-up in the region over the coming year.
  • Austria tops the table as the most-favourable market for M&A in the region, followed by the Czech Republic and Poland. Dealmaking within emerging markets Bulgaria and Romania is picking up pace, with the countries ranking fourth and fifth, respectively.
  • The US is expected to be the largest single source of inbound acquisitions, cited by 29% of respondents, followed by European powerhouse Germany (22%). The UK comes in third in the expectation that its looming break from the EU will encourage British investors to diversify their portfolios into the growing markets of CEE.
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Horst Ebhardt

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