Global technology M&A tally hits $31.4 bn in Sept

The global merger and acquisition activity in the technology sector touched a whopping $31.4 billion this month, the highest monthly volume for technology targeted M&A since May 2008.

For the month of September the technology targeted M&A stood at $31.4 billion, led by Xerox Corp's $8.4 billion acquisition of Affiliated Computer Services Inc (ACS).

On September 28, Xerox Corporation announced the acquisition of outsourcing entity Affiliated Computer Services in a cash and stock deal. Both companies have entered into a definitive agreement in this regard and Xerox would be shelling out $63.11 per share for ACS.

"The Xerox-ACS deal is the largest technology deal announced globally this year and the second largest cross industry Technology targeted deal in the past five years," global deal tracking firm Dealogic said.

According to Dealogic, $31.4 billion is the highest monthly volume for technology targeted M&A since May 2008, when transaction worth $35.3 billion were announced.

Besides, the month of September saw as many as eight deals, including the world's second-largest PC maker Dell's $3.9 billion acquisition of Perot Systems.

Under the terms of the agreement, Dell 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 deal would see an entity with $8 billion in services revenue.

The largest cross-industry technology targeted deal so far has been Vivendi's $9.8 billion acquisition of Activision in December 2007.

The maximum number of technology targeted merger and acquisition deals in September came from the finance sector, followed by telecom, construction products, machinery, aerospace, publishing and retail.