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New heights: US M&A H1 2021
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Sector overview: TMT and healthcare continue to dominate

TMT M&A tops the sector charts again

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The tech industry has seen strong growth over the last 12 months, as businesses, employees, consumers and students have relied on technology to continue trading, working, shopping and studying.

 

The TMT sector led US M&A activity through H1 2021 and was the largest by both deal value and deal volume, carrying momentum from 2020 into the first six months of this year.

The value of TMT M&A in the US totaled US$473.2 billion in the first half of the year, up more than sixfold on H1 2020 levels. Volume was up 62 percent to 1,080 transactions.

The tech industry has seen strong growth over the last 12 months, as businesses, employees, consumers and students have relied on technology to continue trading, working, shopping and studying. 

PMB ranked as the next largest sector by deal value but was some distance behind TMT, with value totaling US$174 billion. The sector was the fourth largest by volume, recording 435 deals, a 24 percent rise on H1 2020 levels.

Industrials and chemicals was the second largest sector by deal count, with 523 deals recorded in H1 2021—a 29 percent rise on the same period in 2020. Value also rose, more than doubling from US$59.9 billion in H1 2020 to US$157 billion in the same period this year—making it the third biggest sector by value.

Business services was the third largest by deal volume, with the number of transactions in the sector increasing from 383 in H1 2020 to 468 over the first six months of this year. Business services was only the sixth largest sector by deal value, even as value climbed significantly from US$18.2 billion in H1 2020 to US$64.6 billion.

The leisure and consumer sectors, which were both directly impacted by lockdowns, showed encouraging signs of recovery through the course of H1 2021 as the US economy reopened and vaccine roll-outs accelerated. Leisure deal value has improved from just US$5.3 billion in H1 2020 to US$25.6 billion—and deal volume has gone up from 37 to 68. In the consumer space, deal volumes have improved from 192 transactions to 248, while value more than doubled from US$20.2 billion over the first six months of last year to US$52 billion in H1 2021.

 

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New heights: US M&A H1 2021

 

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