The UK technology sector experienced the most mergers and acquisitions (M&As) in Europe for the second consecutive quarter, according to a report by Ernst & Young.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The number of M&A deals in the UK technology sector grew by one-third in the second quarter of 2010, compared to the same period in 2009, ranking the UK as Europe's most acquisitve technology sector for the first half of the year and second only to the US globally, said Ernst & Young's global technology M&A report.
Despite continued growth in M&As, Neil Hutt, UK technology transactions partner at Ernst & Young, said M&A activity is difficult to predict for the second half of the year. "Macroeconomic headwinds have returned and are blowing at different intensities in different regions. Right now the UK is clearly an important geography for technology transactions and the trends that are driving technology sector M&A activity are not likely to abate soon.
"The global shift to an economy based on 'smart' everything, 'mobile' everything, and the blurring of boundaries continues to present new deal opportunities," he said.
Forty M&A deals were closed in the UK between April and June this year, compared to 30 deals for the same period in 2009. The report also showed the UK made a greater number of cross-border transactions than in the first quarter of 2010.