The European tech M&A market needs its own Christie's

In 2025, 2,698 SaaS transactions were recorded worldwide. In Europe, the tech market represented €14.2 billion in volume. And yet, if you ask a French or Swiss founder how to sell their asset, the answer is invariably the same: "I don't know where to start."

The European tech M&A market paradox

The market exists. The buyers exist. The sellers exist. What does not exist is the infrastructure that connects them reliably, with certification, and in confidence.

Flippa lists anyone for $29. Acquire.com has 500,000 registered buyers, most of whom have never closed a deal. FE International and Quiet Light operate well, but from the United States, for the American market, with processes calibrated for an Anglo-Saxon M&A culture.

“The European tech market has no Christie's. It has bazaars.”

— Aegryn Research

What Christie's understood that marketplaces have not

Christie's does not list paintings. Christie's selects works, authenticates them, establishes their provenance, and presents them to a circle of buyers who have proven their capacity and seriousness. The refusal is the product. In 2023, Christie's refused more lots than it accepted, and it is precisely this signal of selectivity that justifies the prices achieved.

Antiquorum does the same for collectible watches. Each lot receives a multidimensional grade issued by independent experts following a reproducible protocol. It is not a rating, it is a certification. The difference is fundamental: a rating is an opinion, a certification is a responsibility.

The Aegryn thesis

A tech asset deserves the same treatment as a 1963 Rolex Daytona or a Picasso from the Blue Period. It has a provenance (its build history), a condition (its C/I/F/S grade), an authenticity (its independent documented certification), and a market value (its adjusted ARR multiple).

• Certification replaces estimation, each asset receives an AEG ★/AAA/AA/A/B grade issued by Aegryn certified analysts following an independent protocol
• The closed circle replaces the marketplace, acquirers are pre-qualified before accessing any file
• Escrow replaces the verbal promise, 10% of the transaction price is paid upon signing the Transaction Promise
• Documentation replaces blind trust, the exact codebase state is documented and versioned at transfer

Why Switzerland

This is not marketing. Switzerland is the world's most important wealth management hub, CHF 630 billion managed by Swiss family offices, with 38% allocated to alternative assets. The most creditworthy institutional acquirers in Europe have their offices in Zurich, Geneva, and Zug. Being anchored in Switzerland is not a signal of neutrality, it is a signal of access.