Companies across the globe clinched almost $700 billion worth of mergers and acquisitions during the first two months of the year, as consolidation in the technology sector fueled a surge in deal activity.
In February alone, deals totaling $405.3 billion were announced globally, an increase of 45% compared with the same month last year, according to data from Refinitiv. That is the highest February on record since the financial data provider’s records began in the 1970s.
The burst of activity takes the value of M&A announced so far this year to $698.7 billion, 56% more than the same period last year and a year-to-date total only exceeded twice before, in the years 2000 — at the peak of the dot-com boom — and in 2018.
The technology sector dominated global deal activity for the seventh month in a