Resilient domestic economy, strong valuations in parts of tech sector and insurance broker sector consolidation support deal traffic, Davy finds
“The domestic Irish economy is continuing to perform well in contrast to the UK and some other jurisdictions,” he said. “There is a strong indigenous technology sector here in Ireland, which continues to drive overall M&A deals. Valuations in certain parts of the tech space, including cybersecurity, artificial intelligence and data analytics continue to be fairly strong.”
“Thirdly, there continues to be a trend of consolidation in certain sectors in Ireland, such as insurance broking,” said Mr Simmons. Large deals during the first half include technology entrepreneur Terry Clune’s CluneTech group agreeing to sell payroll software developer Immedis to US multinational UKG in a deal said to be worth €575 million.
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