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The amount of mergers and acquisitions in the tech market has unexpectedly dropped last month but optimism that things remain on an upward curve remains among market watchers.
There has been a steady recovery in M&A activity this year but a bumper July rather skewed the pitch with the months following that coming under pressure to maintain that momentum.
According to the latest figures from Regent there were 186 transactions in October with a combined value of $8.6bn but that was lower than expected given the trend set over the last few months.
"The combined value of $8.6bn is in line with the norm over the past six months, with the exception of the bumper July which has distorted the three month trend line," stated Regent.
"Valuations have continued their upward momentum and are now back to the pre-recession levels," it added.
Most of the bid deals last month happened outside the UK across Europe and there was an emphasis on telecoms with Vodafone busy in the market buying Quickcomm and TnT Expense Management.