Global tech M&A transaction levels were down in the first half of 2024, versus the same time last year, but mega-deals were up this year, according to the US-based Corum Group.
The research and advisory firm said on its latest half-year tech M&A webcast US-based engineering software company Ansys’s US$35 billion sale to Japan’s Synopsys headed a list of 31 $1 billion-plus transactions in H1 2024, which compared with 19 mega-deals in the first six months of 2023.
Overall, 2296 tech M&A deals in H1 2024 compared with 2603 in the same period last year.
Corum looks at six global tech sectors and 29 sub-sectors in its reports.
CEO Bruce Milne said there was still a record $6 trillion of dry powder for acquisition or investment in the tech space.
The webcast heard non-tech acquirers remained “highly active” in H1 2024 while top strategic acquirer Accenture did twice as many deals in H1 2024 (21 transactions) as same period last year.
“Top volume acquirer” for the latest half, Canada’s Constellation Software, completed 52 deals in the first half of 2024 as it continued to expand across various verticals.
