State of the Market
In the face of previous concerns about an imminent recession in 2023, the economic outlook has taken a more optimistic turn. While the prospect of the Federal Reserve halting interest rate hikes, coupled with the potential for rate cuts in 2024, hinges on the trajectory of economic growth and inflation trends. Now, economists suggest that the economy could continue to surpass expectations, fueled by pent-up demand and potential growth in certain sectors. Digital Media is a relatively broad industry with multiple sub-categories. Specifically at FE International, we are seeing increased activity in the ed-tech, ad-tech and digital agency industries. In October of 2023, the US experienced a notable surge in M&A activity, with announced deals for publicly traded companies surpassing $139 billion. This surge represents a substantial increase compared to the same period last year and stands as the highest volume recorded in a single month since June 2019. Corporate leaders are actively pursuing major deals. US Public Company Acquisitions
$100B
$50B
$0B
2023
2019
2020
2021
2022
Source: Bloomberg
With the October surge seen as a positive sign for the short to medium term, the dealmaking environment remains conducive to robust M&A activity, driven by confidence in economic recovery and strategic imperatives.
FE International
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2024 Digital Media M&A Report
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