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    M&A activity in IT sector in sharp decline

    M&A activity in IT sector in sharp decline

    The value of mergers and acquisitions in the European IT sector fell by almost 50% last year, according to a report released by Big Four firm Ernst & Young yesterday.

    Author Date published May 21, 2003 Categories

    Link: Merger standard ‘way over the top’

    The value of deals fell from $45.8bn (£27.7bn) in 2001 to $23.3bn in 2002. It represents a slump of 49.1%. The number of transactions also fell from 1,767 to 949 – a 46% decline.

    E&Y maintains that US companies will remain the biggest buyers this year, with transactions within the software sector accounting for 40% of all M&A deals in Europe.

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