Insight

Technology, media, and telecom M&A skyrocketed in 2021

After a year of rising deal volume and deal value, appetite for M&A remains strong in TMT.

Chad Seiler

Chad Seiler

Partner, Deal Advisory, KPMG US

+1 408-367-7603

Mark Gibson

Mark Gibson

Partner, Advisory, NSL & Teams, KPMG U.S.

+1 206-913-6558

Alex Paik

Alex Paik

Partner, Advisory, Financial Due Diligence, KPMG US

+1 408-367-7658

In 2021, the technology, media, and telecom (TMT) sector had a banner M&A year. Overall deal volume jumped 48 percent to 8,354 transactions from 5,630 in 2020. Overall deal value rocketed 83 percent to $941.1 billion from $514.0 billion.

There were 5,958 technology deals worth $697.0 billion, 2,038 media deals worth $189.7 billion, and 358 telecom deals worth $54.3 billion. (See the charts below for more data.)

Key trends that drove TMT deal making in 2021 included:

  • Unprecedented liquidity from government stimulus programs and historically low interest rates
  • COVID-triggered technology acceleration; the need for digitization, content, and cybersecurity fueled many deals
  • A boom in SPAC deals in the first half of year (though this trend cooled in the second half)
  • Growing interest in ESG as a sector and investment thesis

Looking ahead to 2022, deal appetite remains strong in the TMT sector. In a yearend KPMG executive survey, 66 percent of TMT senior executives said they expect deal activity to increase this year. The deal environment, however, could become tougher in the coming months, with stubbornly high inflation, the Federal Reserve’s plans to hike interest rates, and other headwinds.

TMT Deal Volume and Deal Value

Technology Deal Volume and Deal Value


 

Media Deal Volume and Deal Value

Telecom Deal Volume and Deal Value

 

Our Q4’21 report unpacks these trends and what’s ahead—with deep dives on three topics:


Download the full report to uncover what is happening in these dynamic sectors, how deals are being done today—and why.

Contact us

Chad Seiler

Chad Seiler

Partner, Deal Advisory, KPMG US

+1 408-367-7603
Mark Gibson

Mark Gibson

Partner, Advisory, NSL & Teams, KPMG U.S.

+1 206-913-6558
Alex Paik

Alex Paik

Partner, Advisory, Financial Due Diligence, KPMG US

+1 408-367-7658
Phil Wong

Phil Wong

Principal, Advisory, Technology Industry Strategy, KPMG US

+1 617-899-8999
Scott Jones

Scott Jones

Principal, Advisory, Strategy, KPMG US

+1 408-367-7002
Roderick Moon

Roderick Moon

Managing Director, KPMG Corporate Finance LLC, KPMG US

+1 212-954-5834
Kristian Rasmussen

Kristian Rasmussen

Advisory Managing Director, Strategy - PDT, KPMG US

+1 617-988-1556
Charles Ramseyer

Charles Ramseyer

Director Advisory, Strategy - PDT, KPMG US

+1 214-840-2000
Ekrem Shahin

Ekrem Shahin

Associate Director, CF - M&A - NM Lon, KPMG US

+44-207-6945391