Global M&A trends in technology, media and communications: 2024 outlook

global: A new record for M&A activity in TMT in the first half of 2023, with approximately 8,500 deals announced, 100 more than the previous record of 8,400 set in the first half of 2021. This year, things are different, with transaction volumes down 31% from the first half of the year to less than 6,000 transactions. Overall, 2023 ended the year with volumes down 1% year-on-year. Transaction value in 2023 was down 44% compared to the previous year. This is primarily due to a combination of small transactions and low valuations. Furthermore, the number of TMT megadeals decreased from 42 in 2021 to 24 in 2022 and only 11 in 2023.

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