Dealert Deals Estonia
Country · Estonia

Recent M&A deals in Estonia

Search recent transactions where the target is based in Estonia. Disclosed and estimated figures are kept separate, and every record links back to a supporting source where available.

Deals in this slice
139
Public & account-only records combined
Year range
2025 – 2026
Across the visible recent transactions
Shown below
10
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Account benefit
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Recent transactions

Public snapshots in Estonia

Target Buyer / Investor Sector Geo Transaction size EV / EBITDA
Messente RingCentral VOIP Services $15.7M 19.1×
Outfunnel Pipedrive (Vista Equity-backed) Application Software $14.0M – $18.9M 14.1×
UPGREAT Ringy Consumer Electronics Retailers $5.6M – $7.6M 5× – 6×
Luminor OTP Bank Banks (NEC) $1,632M – $2,208M 7× – 10×
Hansabuss CapMan Infra Highways & Rail Tracks (NEC) $28.1M – $37.9M 5× – 7×
AS Hansabuss CapMan Infra Passenger Transportation, Ground & Sea (NEC) $39.2M – $52.0M 6× – 8×
Workland Group Indrek Haal Business Support Services (NEC) $7.0M – $9.4M 5× – 7×
Prisma supermarkets Coop Estonia Supermarkets & Convenience Stores $60.0M – $72.0M 5× – 6×
Vespia Veriff Financial Technology (Fintech) (NEC) $18.0M – $21.0M 12× – 14×
UPGREAT Ringy, Trind Ventures Consumer Electronics Retailers $4.5M – $6.1M 5× – 6×
Showing 10 of 139 records in this slice. Create a free account for the full view.
Valuations

Valuation multiples in Estonia

Bins are observed deal frequencies across disclosed transactions. Use as a directional reference, not a target valuation.

Mature companies

EV / EBITDA

5.0×
5
5.5×
3
6.0×
10
6.5×
6
7.0×
11
7.5×
8
8.0×
6
8.5×
3
9.5×
1
10.0×
4
10.5×
3
11.0×
2
11.5×
2
12.0×
1
12.5×
1
13.0×
1
14.0×
1
16.5×
1
24.5×
1
25.5×
1
Mean
8.58×
Median
7.57×
P25
6.46×
P75
9.79×
P90
11.88×

EV / EBIT

7.0×
5
7.5×
4
8.0×
5
8.5×
8
9.0×
8
9.5×
5
10.0×
10
10.5×
3
11.0×
2
11.5×
1
12.0×
2
12.5×
2
13.0×
3
14.0×
3
14.5×
1
15.0×
1
16.5×
1
17.5×
1
18.0×
2
18.5×
1
23.0×
1
37.0×
1
Mean
11.12×
Median
9.91×
P25
8.81×
P75
12.43×
P90
15.35×

EV / Revenue

0.5×
14
0.8×
14
1.0×
15
1.3×
3
1.5×
6
1.8×
1
2.0×
1
2.3×
6
3.0×
2
3.3×
2
3.5×
1
3.8×
1
4.0×
1
4.5×
1
5.5×
2
6.0×
1
7.0×
1
Mean
1.70×
Median
1.05×
P25
0.82×
P75
2.21×
P90
3.57×
Early-stage & growth companies

EV / Revenue

3.0×
1
3.3×
2
3.8×
2
4.0×
3
4.3×
1
5.0×
1
5.3×
3
5.5×
2
5.8×
2
6.0×
2
6.3×
3
6.5×
3
6.8×
1
7.0×
1
7.3×
6
7.5×
5
7.8×
1
8.0×
6
8.3×
1
8.5×
2
8.8×
3
9.3×
2
9.5×
2
10.0×
4
10.3×
1
10.5×
1
10.8×
1
11.0×
1
11.8×
2
12.0×
1
12.5×
2
12.8×
2
13.0×
2
13.3×
2
14.0×
2
14.3×
1
15.0×
1
16.0×
5
Mean
8.80×
Median
8.00×
P25
6.36×
P75
10.88×
P90
13.89×

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