Most mergers and acquisition advisors agree that the volume of closed M&A deals over the last five years is down from the prior decade. This can be attributed to a variety of factors, including:
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The largest integrators are focused on shedding non-core assets or consolidating assets
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A dearth of capable middle market buyers
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Continued focus on quality of assets versus the quantity of revenue/EBITDA
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A lack of good M&A targets
Source: Why it pays to be different in 2017 — Washington Technology