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17 Jul 2009
European technology merger and acquisition (M&A) activity cooled further in the second quarter, but the channel continued to buck the downward trend.
According to merger advisor Regent Associates, there were 650 deals involving European tech firms in Q2, down 16 per cent annually and nine per cent on Q1.
The number of deals worth more than $1bn plunged from nine to zero, year on
year.
However, UK and European IT resellers and distributors are inking as many deals
as ever, with 49 firms in that sub-sector being snapped up during the quarter.
This shows an increase of two per cent on Q2 2008 and 14 per cent on Q2 2007.
Further reading
Prominent deals included SCH divesting its Italian and German arms, Kelway’s acquisition of Repton and ATC’s disposal of Rocom.
Peter Rowell, executive director of Regent Associates, said: “Almost all sectors are down over the past 18 months, but the one bucking the trend is the channel. This is still a consolidating market and, at least at a headline level, it appears to be unaffected by the recession.”
Rowell added that he expected larger tech deals to start coming back in Q3 because valuations have bottomed out.
“Some of the private equity boys are beginning to sniff around quite seriously,” he said.
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