Constellation, a leading French IT services group specialized in cloud and cybersecurity, has announced a major fundraising round of over �116 million led by 3i. This transaction marks the exit of Qualium Investissement, which had supported the group since 2021. Historical investor Cap Horn Finance is reinvesting alongside founder Etienne Besan�on and his 32 partners, who together retain nearly half of the company's capital.

The transaction values CONSTELLATION at an EV/Revenue multiple of LOGIN.

This transaction is part of the TMT (Tech, Media, Telecom) industry, which currently tracks an average EBITDA multiple of 13.1x since the beginning of 2026, 4.7% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.