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ARTICLE · 18 MARCH 2015

Information Technology Sector M&A, 2014

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If there was one sector that truly dominated the headlines globally throughout the course of 2014, it was the Information Technology (IT) sector....

Cayman IslandsWealth Management
Judy Lee
Judy Lee
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If there was one sector that truly dominated the headlines globally throughout the course of 2014, it was the Information Technology (IT) sector where a flurry of IPOs and eye-watering valuations for dotcom businesses spurred talk of a bubble. The offshore world took its fair share of the action, witnessing 269 IT deals worth a cumulative value of almost USD60bn. The most notable was Alibaba Group, the Chinese internet firm incorporated in Cayman, which listed on the New York Stock Exchange to raise an eye-watering USD21.8bn in September. That far exceeded the USD16bn raised by Facebook in 2012.

In all, the offshore jurisdictions witnessed eight technology deals each worth over one billion dollars in 2014. Four deals, including the Alibaba IPO, were worth in excess of USD3bn, amongst them the USD4.9bn acquisition of Oldford Group, an Isle of Man based computer games firm, by Amaya Gaming Group of Canada.

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