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Thursday October 23, 2014

NYC Ranks Second in Tech Acquisitions for 2012

Downtown New York

Downtown New York (Photo credit: sreevishnu)

According to a recent report by PrivCo., 100 mergers and acquisitions occurred for privately held tech companies in the city in 2012. These acquisitions added up to $8.3 Billion, leaving NY in second place after Silicon Valley. The Valley has 226 deals that accounted for $21.5 Billion.

PrivCo’s CEO Sam Hamadeh said that NY companies’ average deal value of $83 million was a dramatic step from previous years and that it’s a testament that NYC can create private technology companies without being acquired. Between 2005 and 2010, the number of tech-related jobs in NY increased by 30 percent and Bloomberg is making initiatives to further enrich the tech scene.

Third place was held by the Boston-Cambridge corridor with 62 deals at $1.7 billion.

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