The move by Lumison to spend £22m for BlueSquare Data Services at the end of last month was the highlight in terms of M&A activity as the number of deals overall slowed from the start of the year.
According to the latest monthly report from Regent the level of deals in February, 210 across Europe, was the same as in the same period in 2010 but the pace had dropped from the tail end of last year.
"Acquisition activity slowed somewhat in February but it was no more than is usually seen after the normal turn-of-the-year deal flow," stated the financial services company.
"The combined value of deals jumped because of some substantial telecoms transactions to $22bn. The valuation multiples have remained reasonably stable for some time, giving confidence to both buyers and sellers," it added.
In Europe there was some buying activity around the SaaS market with Citrix wrapping up a deal with German web conferencing outfit Netviewer.