Global TMT M&A Update Q3 2021

Read more about Global TMT M&A trends

David Creamer

David Creamer

Managing Director, KPMG Corporate Finance LLC

+1 669-308-2159

Unprecedented Trillion Dollar Deal Making

  • Replicating the performance of Q1’21, Global tech M&A activity registered an aggregate deal value of $359B with 1,174 deal announcements in Q3’21, making it the second-best quarter on record in terms of deal value
  • Sustained growth in deal value was propelled by 33% Q-o-Q increase in total M&A spending by strategic buyers, which announced 777 deals with an aggregate deal value of $304B
  • Making most of the highly receptive loan market, financial buyers continued to put the record amount of capital to work and witnessed the best quarter to date, announcing a record 397 transactions (including add-on deals) collectively worth $54.6B
  • The largest deal for the quarter came from Jack Dorsey’s fintech company, Square, which announced the $29B acquisition of Afterpay, an Australia-based payment processing & installments payments SaaS company
  • Catapulted by the unprecedented deal making through the first nine months, aggregate deal value surpassed the previously unfathomable trillion-dollar mark. The record deal making was fueled by
  • Largest spending by strategic buyers, with total strategic deal value for 9M’21 which already exceeded CY2020 spending by more than 66%
  • Highest number of $1B+ transactions (~250), 2.2x times the 2020 annual numbers and 23% more than 2019 and 2020 numbers combined
  • Significant investments by financial buyers during the first three quarters, announcing deals worth an all-time high aggregate value of more

Global Quarterly TMT M&A Activity: Q4’18 – Q3’21

Global Quarterly TMT Mid-Market M&A Activity (≤$500M): Q4’18 – Q3’21

Sources: 451 Research (proprietary database accessed on September 30, 2021)

Most Active Buyers

Global Quarterly TMT M&A Trend by Buyer Type: Q4’18 – Q3’21

Top 10 Active Global TMT Strategic Buyers:
Q1’20 – Q3’21

Top 10 Active Global TMT Financial Buyers:
Q1’20 – Q3’21(1)

Note: (1) PE deals include bolt-on acquisitions to existing portfolio companies and excludes co-investments
Sources: 451 Research (proprietary database accessed on September 30, 2021)

In our Q3 2021 edition of the TMT M&A Newsletter, we cover global TMT M&A activity, notable M&A transactions, key industry trends/drivers, as well as buyer activity/appetite. To read the full report, download the PDF below.

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