Mergers and Acquistions News
Categories: IT Services & Consulting
February 16th 2009, 14:08PM
The recession could be a watershed year for mergers and acquisitions in the IT sector, as weak companies fold and strong companies grow, an internet services provider has claimed.
Kate Craig-Wood, managing director of Memset, gave her comments at the Intellect Annual Regent Conference 2009.
Ms Craig-Wood said: "As a whole, obviously things are very bad but I think many businesses are perhaps not in the right place [to survive the recession] and I see it as a time of separating the wheat from the chaff."
She added that opportunities will arise within the sector, if willing companies can spot them - there will be some "good bargains" available.
Figures from Regent - IT corporate finance specialists - show that there were 2,941 acquisitions involving European technology companies in 2008, down nine per cent from the 3,215 deals announced in 2007, with the combined value of all deals last year at £111 billion.
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