Morning all, Irien Joseph here with the Europe edition of the Wire from the London newsroom. Today’s newsletter is tech-heavy, starting with a listicle on six hospitality tech deals announced since the start of the year. Europe’s $50 billion cybersecurity market is drawing interest from US investors. Houlihan Lokey’s Mark Smith shares with PE Hub what’s fueling this trend and why identity protection is emerging as a particularly hot area. We’ll finish with this week’s deal roundup. The spotlight is on the buzzing tech sector, where PE Hub reported12 deals across the US and Europe. AI macro-trend Private equity firms are increasingly investing in hospitality technology, with an abundance of deals announced in the subsector since the start of 2025, PE Hub’s Sophie Rose writes. Check out the premium version of the Wire to discover why private equity is increasingly focusing on hospitality tech and to get details on the latest deal in the sector. Roll-up opportunities Cybersecurity in Europe has become an interesting arena for US investors, with transatlantic M&A activity in the sector showing a notable rise. Mark Smith, director in Houlihan Lokey’s technology group, told PE Hub that cross-Atlantic interest has been building steadily, turning Europe into a key destination for cyber-focused M&A. Dive into premium version of the Wire to find out why Europe’s cybersecurity market is attracting US investors and the rising importance of identity protection. For a broader perspective on tech investment, check out Craig McGlashan’ story on why Thoma Bravo has identified Europe as its fastest growing region and the key drivers shaping its tech investment landscape. Tech in focus Sticking with our theme, this week’s deal round up focuses on technology. PE Hub has reported 12 tech deals in the US and Europe. Below are the deals: Tower Arch-backed Intelligence Technical Solutions picks up Black Breach HIG Growth Partners invests in AgileBlueArcus-backed FixMap snaps up Stimo.Net Vista Equity Partners backs software company RollKallBain Capital launches data center platform Hscale McNally Capital invests in defense tech company Quiet ProfessionalsMain-backed Relyon picks up FieldBuddy Bregal Sagemount invests in Opex TechnologiesSeva Growth invests in software provider Teleskope Silversmith Capital-backed TMA Systems acquires Virtual FacilityThoma Bravo-backed Nearmap to buy Itelfrom GTCR Tikehau Capital buys EYSA from HIG Before I sign off, a schedule note: There won't be any Monday editions of either newsletter due to a bank holiday in the UK and Memorial Day in the US. Craig McGlashan will bring you the Europe edition on Tuesday, while Obey Martin Manayiti will write Tuesday's US Wire. That’s it from me. John R Fischer will write to you with the US edition later today. Warmly, Irien Read the full Wire commentary on PE Hub ... | 