Technology M and A 2026

BELGIUM Trends and Developments Contributed by: Steven De Schrijver and Carl Dotremont, Allegiance Law

ecosystem, and employee stock ownership plans are increasingly standard to attract and retain talent amid acute competition for senior AI engineers. Although IPOs remain muted, trade sales and secondary buy- outs continue, with incremental growth in structured exits and earn-outs linked to AI milestones or revenue quality. Looking ahead to 2025–26, regulation will continue to shape diligence scopes, deal timetables and integra- tion budgets. Early identification of AI Act classifica- tions and Data Act exposures will help avoid surprises on price and risk allocation. Buyers are likely to pay a premium for clean data rights, demonstrable AI return on investment and secure engineering, while opaque data provenance, weak governance or vendor lock-in will depress valuations or invite specific indemnities. Broader use of private or sovereign AI deployments is expected in sensitive sectors such as health, finance and the public sphere, together with more alliances with EU-located model providers. In Belgium, con- tinued foreign participation, steady mid-market activ- ity and strong demand for AI-augmented assets are anticipated, with execution success hinging on the depth of technology diligence and proactive regula- tory navigation.

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