Technology, Media and Telecom
TMT industry faced headwinds in 2022 due to rising interest rates, declining consumer demand, and SVB collapse. However, growth in AI, sports rights, advertising, and enterprise edge computing is expected to fuel growth in 2023.
Public Company Valuations
CFAW Select Technology Index increased 32% in Q1 2023, but 12-month return was down 8.2%. Software Publishers had highest median revenue and EBITDA multiple.
Mergers and Acquisitions
TMT industry dominated M&A activity in 2022. Despite headwinds, 3/5 of global TMT CEOs plan to pursue M&A in 2023. Deal activity is expected to remain high, but most deals will be small. Video Game and Software are expected to be among the most vibrant M&A segments in 2023.
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