In Q1 2024, the number of closed deals decreased by 3.5%, totaling 327 compared to 339 in Q4 2023. The median EV/EBITDA multiple in the sector dropped to 10.9x, down from 11.4x in Q4 2023. Revenue multiples remained consistent with the previous quarter, suggesting that buyers are maintaining their revenue-based valuations to accommodate short-term EBITDA variations. Analysts continue to propose that deal volume may increase if the Federal Reserve decides to lower interest rates, though many are now anticipating that an uptick in deal volume may start in late 2024 or early 2025.