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Tech, communications, digital media M&A activity jumped 154% in '99

Published on .

New York--The total value of investment banks' global information technology, communications and digital media mergers and acquisitions activity jumped 154% in 1999 over 1998. Last year's $1.2 trillion in tech- and media-driven mergers and acquisitions activity was racked up largely by business-to-business electronic-commerce deals, according to a new report by New York-based Broadview Holdings L.L.P. Statistics regarding the breakdown of b-to-b e-commerce activity were not available. "As companies implement real-time B2B systems for the Web, a competitive frenzy has developed among vendors, each of whom is vying for `gorilla' status in this market segment," said Alec Ellison, managing director of Broadview Holdings, in a statement.
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