The third quarter of 2023 saw a slight fall in deal activity after the recovery in the global M&A market in the second quarter. Total deals in Q3 totalled $473bn, a drop of 17% compared to the previous quarter. In terms of deal volume, there was a 16% fall from 8,394 deals in Q2 2023 to 7,083 M&A deals in Q3 2023. The gold standard of business intelligence. Deal activity was impacted by several factors including higher inflation and rising interest rates, which in turn raised concerns over an economic slowdown in many of the world’s leading economies. Key M&A takeaways Below are the key trends that were observed in Q3 2023: Notable deals in Q3 2023 Q3 saw some interesting deals, such as Cisco’s $30bn acquisition of , a security analytics and observability company that will strengthen its cybersecurity offering. Another saw Liaoning Asset Management acquire a portfolio of assets from Shengjing Bank, a commercial banking and related financial services provider, for $24bn. Other prominent deals included ’s merger with Smurfit Kappa, a provider of paper packaging solutions for a deal value of $19bn, and GTCR’s $10bn acquisition of a 55% stake in Worldpay, an online multi-currency payment system. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Thank you! Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Most of these deals were driven by environmental, social, and governance (ESG) and the emerging economies themes. Other noteworthy themes included AI, supply chain disruption, and big data. The outlook for M&A Q4 2023 remains relatively subdued, with the risk of further increases in interest rates and the prospect of mild recessions in several key markets. As businesses navigate the rapidly changing global landscape, integrating ESG principles into M&A strategies has become a necessity for long-term success. However, the M&A market will rebound as we head into 2024 as acquisitions remain a key element of corporate strategy. The gold standard of business intelligence.