According to S&P Global Market Intelligence, August saw a modest recovery in IT deal activity from July’s plummet, but volumes remained compressed compared to earlier in the year.
According to a new data analysis by S&P Global Market Intelligence, sector deal volumes dropped 23.8% year over year during the eighth month of the year to 198 U.S. transactions. That represents the second-lowest monthly deal count of the year behind July, which saw 175 transactions.
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Key findings from the newly released analysis include:
- Despite the modest volumes relative to other recent months, August tracked four IT transactions of more than $1 billion.
- August also saw a return of private capital leading IT deal activity. Vista Equity Partners Management LLC’s $9.81 billion bid for tax-compliance software firm Avalara Inc. was the top announcement of the month. The deal to acquire Avalara is Vista Equity’s second-largest deal announcement in its history and the seventh-largest IT transaction of the year across buyers, according to S&P Global Market Intelligence.
- Three of the five largest transactions in Vista Equity’s history were announced in 2022. Its largest deal to date was the $17.18 billion acquisition of enterprise solutions vendor Citrix Systems Inc. announced in January. That transaction is the second largest across the sector year-to-date.
