Tech sector still buoyant, says PwC

Tech sector still buoyant, says PwC

Deals continue despite financial crisis

The UK technology sector is still doing business. A report by
PricewaterhouseCoopers found that it made up a third of all deals globally in
2008.

While the value of deals done in 2008 rose 10 per cent to €17.7 billion, the
actual number of transactions fell.

The tech sector is faring well compared to industries such as retail and
property, but activity is down considerably on 2007 levels.

‘Most of the activity has been what we call ‘mid-market’ activity,’ PwC
corporate finance partner Andy Morgan, told IT Pro. ‘That is, the UK
ecosystem of tech companies is essentially mid-market [so] hasn’t been as
dependent on mega deals.’

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