Bloomberg features commentary from Ciesco
“Buyout firms are flush with investor cash and are being drawn to startups helping companies to reinforce their businesses following the impact of the Covid-19 pandemic”, said Chris Sahota, CEO of Ciesco. “2021 will be a time of reinvention for many companies and digital technology is driving that, so the private tech market is booming. After last year’s turbulence, businesses want to be agile and they have started to future-proof their operations.”
Private equity firms are barreling through the records as they place bets on technological revolutions in sectors ranging from finance to health care.
Firms have spent $80 billion acquiring companies in the global technology sector this year, according to data compiled by Bloomberg. That’s an all-time high for a quarter and already up 141% on this point in 2020, which went on to be a record year for such deals.