Montagu Private Equity completed the acquisition of IAI Group, a leading e-commerce SaaS provider in Poland, marking a significant transaction in the country's M&A landscape.

Target Information

In the third quarter of 2025, a significant merger and acquisition (M&A) event unfolded in Poland with the complete sale of IAI Group, a leading provider of e-commerce SaaS platforms, to Montagu Private Equity. As a notable player in the market, IAI Group services over 13,000 online stores in Poland and Hungary, accounting for more than 10% of the Polish e-commerce market's revenue. This transaction marks a pivotal moment as it represents one of the largest divestitures in the history of the previous owner, MCI Capital, who successfully realized net revenues of approximately PLN 469.3 million from this sale.

Industry Overview in Poland

The Polish market has recently experienced a decline in merger and acquisition activities, with 76 M&A transactions recorded in Q3 2025, signifying a 14% drop compared to the previous quarter and a 10% decrease year-over-year. However, industry experts forecast a gradual recovery in M&A activity as the year progresses, despite the current transitional slowdown. The activity is widely anticipated to pick up in the latter part of the year.

Within the overarching M&A landscape, the sectors showing the most engagement include Media, IT, and Telecom, representing 21% of transactions, followed by Biotechnology and Hea