Deal Tracker: Infotech M&A activity slips YOY in April 2023

IT companies in North America saw decreased M&A activity in April compared to the same period in 2022, according to S&P Global Market Intelligence data.

There were 123 M&A transactions announced in April worth a total of $1.30 billion. In comparison, there were 199 deals struck in April 2022 with a total value of $28.25 billion.

The total IT deal value for April also declined compared to the prior month. A total of 151 deals were recorded in March with $20.98 billion as the aggregate transaction value.

None of the transactions in April exceeded the $1.00 billion mark, and only five transactions had deal values of more than $100.0 million.

The largest deal of the month involved software company Thomson Reuters Elite, which entered into an agreement to sell a majority stake to TPG Inc. at a transaction value of $400.0 million.

This was followed by Finland-based F-Secure Oyj's agreement to buy Lookout Life, a mobile security platform developer, for $222.2 million.

– Run a custom screen of M&A by industry or geography on S&P Capital IQ Pro's Transactions Statistics page.

The proposed $160.3 million acquisition of TESSCO Technologies Inc. by Lee Equity Partners LLC and Twin Point Capital LLC ranked third in terms of deal value.

The planned $11.17 billion takeover of software company Qualtrics International Inc. by private equity firm Silver Lake Technology Management LLC and Canada Pension Plan Investment Board remains the largest announced IT deal year to date.