Analysis of the key themes driving private equity deal activity reveals that ecommerce accounted for 12 technology deals announced in Q4 2023, worth a total value of $772m. The $217m institutional buy-out (ibo) StarTek by Capital Square Partners was the industry’s largest disclosed deal. A thorough analysis of the disruptive themes and the Private Equity deal activity are included in GlobalData’s Tech, Media and Telecom (TMT) Industry Mergers and Acquisitions Deals by Top Themes report. Buy the report here.

In value terms, ecommerce-related deal activity decreased by 91% in Q4 2023 compared with the previous quarter’s total of $8.4bn and rose by 160% as compared to Q4 2022. Related deal volume decreased by 33% in Q4 2023 versus the previous quarter and was 29% lower than in Q4 2022.

The top-ranked financial advisors supporting these private equity deals in Q4 2023 were Morgan Stanley; code & co; Goldman Sachs Group with 3, 2, 2 deals respectively.

The top-ranked legal advisors supporting these private equity deals in Q4 2023 were Latham & Watkins; Kirkland & Ellis; Blake, Cassels & Graydon with 5, 4, 2 deals respectively.

For further understanding of GlobalData's Tech, Media and Telecom (TMT) Industry M&A Deals by Top Themes in 2023 – Thematic Intelligence, buy the report here.

This content was updated on 8 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Buyouts and Direct Investments done by Private Equity firms.