M&A activity in the sector was up 20.6% year over year in October with 252 deals recorded by S&P Global Market Intelligence. The jump in activity is notable because M&A activity had returned to normal by October 2020 after a pandemic-related dip. The 209 transactions recorded a year ago were 0.5% more than the same month in 2019, itself a healthy year for information technology deal activity.
October also saw a new face among the biggest information technology transaction advisers as LUMA Partners LLC advised on a transaction between Twitter Inc. and newly public AppLovin Corp., which provides marketing and monetization services to digital application developers.
In the transaction, AppLovin will acquire Twitter’s MoPub Inc. digital advertising and mobile transaction service for $1.05 billion in the fifth largest information technology deal of the month. LUMA will consult AppLovin on the deal.
Click the button to read the full article.