Following significant challenges at the outset of the pandemic, 2020 ended on a very positive note, with both M&A and capital markets activity accelerating throughout Q4. M&A saw a full return to scaled transactions in Q4, with activity actually outpacing pre-pandemic levels across most sectors. Check out our new “LUMA’s M&A Themes” to better understand the key trends driving this increased momentum and their impact on future deal-making.
In the public sector, the IPO market remained red hot, capping off one of the biggest years for US IPOs in the past two decades with more than $170Bn raised. Outside of IPOs, technology companies also leveraged direct listings and Special Purpose Acquisition Companies (SPACs) to enter the public markets throughout 2020. The SPAC market has grown so large and fragmented that it prompted us to create a new SPAC LUMAscape.
In addition to strong public market access, public Digital Media and Marketing companies also performed well through the end of the year. In a new feature, “LUMA’s TMT Sub-Sectors” we define our own public TMT landscape based on the most important companies to the Digital Media and Marketing ecosystem.
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