The total value of merger and acquisition deals involving Indian companies rose to $7.7 billion in the September quarter from the year-ago period, according to global consultancy EY. With cross-border transactions being a significant driver of the M&A activity during the last quarter, it reflects "increased business confidence of global players in the Indian economy and domestic companies”, EY said on Monday.
As many as 233 deals involving Indian firms with a cumulative deal value of $7.7 bn were disclosed in the 3 months ended September. “While this represents an 18% increase in terms of aggregate disclosed value (vs $6.5 bn in Q3 of 2014), the deal volume remained at the same levels (232 deals in Q3 2014). “The Tech sector continued to dominate the M&A sector tables in terms of volume, accounting for 36 deals, as firms remained focused on buying SMAC capabilities cos,” EY said.