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Financial News Online notes that technology mergers have soared recently , hitting nearly $200 billion so far this year (Dealogic). That's second only to 2000, when things were crazed. There are some big differences in the M&A market these days. The previous go-go era was driven by strategic deals. Everyone was angling to get bought by Microsoft, IBM, Cisco and the likes. More recently, deals were driven by private equity funds, and we may be seeing a new era of muted expectation setting in. Some think that will drop the tech deal volume down a notch. But you have to think that the decline of private equity dealmaking is a boon for strategic buyers. There are plenty, and they're likely prowling. So we may not see a huge drop in merger volume. I'm sure the non-sponsor bankers out there are working their contacts right now.