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Global tech deals shrinking

Q1 of 2023 recorded 150 transactions as against 270-plus deals in Q1 of 2022 and 220 in Q1 of 2021: EY-Nasscom report

- M&A PE deals surged in tech space

- They’re over $57 bn in 2022, more than doubled the amount of $27bn in 2020

- PE deals in IT services rose 2.5x in 2022 compared to 2020

- Large deals ($500 mn plus) account for 62.5%

- BPM and ER&D services experienced growth of 1.5x and 1.8x respectively

New Delhi: The deal activity in the global technology services sector has softened, with over 150 transactions announced in the first quarter of 2023 compared to 270-plus deals in Q1 2022 and over 220 in the first quarter of 2021, according to an EY-Nasscom report.

The report - Mergers and Acquisitions (M&A) Trends and Outlook in the technology services sector - noted that in 2022, the technology service sector proved to be a year of paradoxes.

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