Enterprise IT spending has so far weathered the combined forces of high inflation, slowing growth and geopolitical instability this year. M&A activity in the enterprise IT sector has also continued to thrive, despite gloomy economic forecasts.
Several high-profile, big-dollar deals in the first half of the year provided a major numbers boost.
Total M&A activity has already reached $104.7 billion this year, led by TIBCO’s leveraged buyout of cloud and SaaS provider Citrix Systems for $13.8 billion in January. Broadcom’s May acquisition of cloud and virtualization tech company VMware for $73.0 billion, and the approval by Zendesk shareholders of a $10.2 billion private equity takeover of the SaaS products company on Sept. 19 were two of the year’s other blockbuster deals.
