M&A is also being driven by companies whose main business is not necessarily IT, which are acquiring tech companies to help digital transformation efforts or building out their own technology offerings. For example, GE recently announced its GE Digital division, which will combine its various technology efforts to compete in the IoT market. The unit will bring together GE's Software Center; the Global IT and commercial software teams; and Wurldtech, which offers industrial security systems.
The highest-value tech acquisition announced in October was Dell's $67 takeover of EMC. But even without that deal, October would have been the highest month of the year for tech company buyers, EY said. The second highest publicly disclosed deal was Western Digital's $19 billion acquisition of SanDisk.
EY polled 1,600 executives in 53 countries for its Capital Confidence Barometer report.
Sign up for MIS Asia eNewsletters.