It’s been a strong quarter for M&A deal-flow and funding activity in the tech sector, according to GP Bullhound.
The technology investment bank’s first quarterly barometer reports the number of M&A deals was up 14% in Q3 compared to Q2 and the number of funding rounds was up 17%.
M&A deal flow increased over July (+40%) and August (+11%) but dipped in September (-8%) – but August was top for funding rounds with 347 secured, up 48% on July.
Funding activity remains highest in software, which also tops the M&A total.
And despite the general downturn in hardware, the sector came in second for M&A.
M&A deals by sector
| July | August | September | Q3 Total | |
| Advertising | 39 | 37 | 25 | 101 |
| 50% | -5% | -32% | ||
| Content | 27 | 29 | 15 | 71 |
| 59% | 7% | -48% | ||
| eCommerce | 32 | 38 | 32 | 102 |
| 23% | 19% | -16% | ||
| Hardware | 52 | 64 | 74 | 190 |
| 44% | 23% | 16% | ||
| Internet Technology | 39 | 31 | 40 | 110 |
| 129% | -21% | 29% | ||
| Mobile | 9 | 17 | 14 | 40 |
| -50% | 89% | -18% | ||
| Online games | 4 | 0 | 2 | 6 |
| -20% | -100% | n/a | ||
| Online travel | 5 | 4 | 1 | 10 |
| 400% | -20% | 75% | ||
| Social media | 8 | 7 | 11 | 26 |
| 60% | -13% | 57% | ||
| Software | 86 | 108 | 93 | 287 |
| 34% | 26% | -14% | ||
| Total | 301 | 335 | 307 | 943 |
| 40% | 11% | -8% |