Global tech M&A touches $31.4 billion in September: Dealogic report

The global merger and acquisition (M&A) activity in the technology sector has touched a whopping $31.4 billion in the month of September, the highest monthly volume for technology targeted M&A since May 2008, thanks to Xerox Corp’s $8.4 billion acquisition of Affiliated Computer Services Inc (ACS), according to Dealogic report.

Recently, Xerox has announced acquiring outsourcing entity Affiliated Computer Services in a cash and stock deal, where the former will shell out $63.11 per share for the latter.

The report says the M&A worth $31.4 billion is the highest monthly volume for technology space since May 2008 out of the total deals announced worth $35.3 billion. The month also witnessed as many as eight deals, including the world’s second-largest PC maker Dell’s $3.9 billion acquisition of Perot Systems, where the former would commence a tender offer to acquire all of the outstanding Class A common stock of Perot Systems for $30 per share in cash.

The finance sector was the biggest contributor to the technology targeted merger and acquisition deals in September, followed by telecom, construction products, machinery, aerospace, publishing and retail.