JP Morgan was the leading financial adviser globally for mergers and acquisitions (M&A) in 2019 in the information and communication technology (ICT) sector, according to GlobalData.
The New York-based financial institution advised on 71 deals worth $219.9bn in 2019. It stood at second place in the GlobalData’s 2019 ranking of top 20 financial advisers for global mergers and acquisitions.
GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If value remains same for multiple advisers, deal volume is given weightage.
Goldman Sachs secured the second spot with 79 deals worth $194.4bn, while Morgan Stanley stood at third position, advising on 60 deals worth a total of $136.7bn.
Nagarjun Sura, financial deals analyst at GlobalData, said: “Latham & Watkins emerged as the top legal adviser in the ICT sector, mainly driven by its involvement in Fiserv’s acquisition of First Data. Interestingly, all top five legal advisers participated in this transaction. With respect to deal value, only JP Morgan was able to cross the $200bn mark, topping the financial adviser category.”
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Percentage decline in ICT sector deals
The ICT sector witnessed a decline of 11.29% in deal value from $766.4bn in 2018 to $679.9bn in 2019. Deal volume, however, increased by 18.05% from 16,173 to 19,093.
US-based law firm Latham & Watkins led the top 10 legal advisers table for 2019 with a value of $162.6bn through 133 deals. Cleary Gottlieb Steen & Hamilton, which advised on 39 deals worth $160.4bn, came at second position. With 169 deals worth $146.8bn, Kirkland & Ellis took the third spot. Latham & Watkins stood at sixth position the global league table of top 20 legal advisers for 2019.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names. All announced deals count towards the totals.
To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website