Over the past few months, tech companies have continued to consolidate and invest, even while under the microscope of antitrust authorities, reported CNN. Some acquisitions appear to be strategic ways to adjust to a post-pandemic world, like Uber’s acquisition of the delivery app Postmates, while others, like Amazon’s Acquisitions of self-driving technology start-up Zoox, look like the sort of thing investors would have expected to see in the Before Times.
The value and number of tech deals has outpaced that of other sectors so far this year and has made up about a quarter of all M&A in the US according to data from Dealogic. Researchers say the sector is primed to continue growing even with the threat of increasing coronavirus case numbers. That’s because the pandemic has made consumers even more reliant on tech platforms and devices to work and socialize, speeding up the need for innovation that’s fueled by the industry’s large access to capital. Dealogic’s data is based on publicly available M&A announcements as of July 9 of this year, and includes deals that haven’t closed yet.