DENMARK Trends and Developments Contributed by: Simon Milthers, Thomas Bøgedal Kristiansen, Mikkel Friis Rossa and Emil Steenberg, Bech-Bruun
Bech-Bruun Gdanskgade 18 2150 Copenhagen Denmark Tel: +45 72 27 00 00
Email: info@bechbruun.com Web: www.bechbruun.com/en
The Danish Tech Sector: A Main Driver in M&A Growth The technology sector within M&A has remained strong and continues to evolve. Several key trends and developments are shaping the market outlook for 2026. The Danish technology sector has shown continued resilience amid recent economic uncertainty and has remained a leading contributor to deal activity over the last twelve months in the Danish M&A landscape, accounting for 26% of all reported deals (Merger- market), highlighting the sector’s high and expanding influence. Private equity has played a significant role, with more than 30% of PE deals linked to technol- ogy. Looking ahead, the global focus on AI and digital transformation is expected to drive further investment in the Danish technology sector throughout 2026. EU’s digital transformation agenda The EU’s digital transformation agenda is significant- ly influencing the Danish technology sector. The EU has introduced several legislative measures aimed at enhancing cybersecurity and regulating AI. These reg- ulations are impacting due diligence processes and deal terms in M&A transactions, making compliance and appropriate investments in cybersecurity critical factors for tech companies going into the M&A pro- cess. The extensive use of technology within organisations operating in critical sectors has significantly increased their susceptibility to cyber-attacks. This heightened vulnerability has necessitated the introduction of regu- latory measures aimed at bolstering cyber-resilience.
To ensure uninterrupted services in key sectors, the Network and Information Security Directive (NIS2) was enacted on 16 January 2023. The main Danish Act implementing NIS2 entered into force on 1 July 2025. Sector-specific regulation applies to the telecommu- nications sector, the energy sector and the financial sector, which already had extensive sector-specific cybersecurity regulations in place. NIS2 aims to secure sectors vital to the economy and society and heavily reliant on Information and Communications Technology (ICT), including ener- gy, transport, water, banking, healthcare and digital infrastructures. Companies that are subject to NIS2 are required to implement and document technical, structural and contractual measures – all from a risk- based approach. Additionally, the authorities must be notified in the event of serious incidents. The key aspects of NIS2 are: • management of cyber- and information security risks; • creation of comprehensive security policies; • business continuity and crisis management; • establishment of Computer Security Incident Response Teams and NIS2 authorities; and • creation of a co-operation group for strategic collaboration and information sharing among EU member states. NIS2 compliance is a critical focus during due dili- gence in M&A transactions. Essential companies may • supply chain and vendor security; • cyber-hygiene and access controls;
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