Mergers and acquisitions targeting technology companies have hit a record high in Asia Pacific, Dealogic data shows, and dealmakers expect this M&A pace to continue as the pandemic spurs a shift toward virtual activities in the economy.
Tech M&A has totalled US$136.2 billion in 2020, more than double the year-ago levels, according to data provider Dealogic.Tech deals accounted for 28per cent of the regions' overall M&A transactions, which totalled US$482.4 billion as of Wednesday, the highest share in at least a decade, the data shows.
"For a consumer, it affects how you shop, pay, eat, move and entertain. For a business, it affects how you recruit top employees, source your supply chain, manufacture and, of course, sell to customers," he added. The survey of 800 senior executives in Asia Pacific shows over three quarters of the respondents predicting tech deals would increase markedly in the next 12 months.