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UK ranks second for global tech exits in 2016

The UK has ranked second globally in terms of tech exits in 2016.

According to the ‘Global Tech Exits’ report, released by CB Insights today, the United States came on top with more than 1600 tech exits completed last year.

India came in third, followed by Canada, Germany and France which ranked in fourth, fifth and sixth place respectively.

Other European countries such as Sweden and the Netherlands also made the top 10.

UK sector share

Some 55% of exits in the UK were completed by companies operating in the internet space.

In contrast, only 13% of UK tech exits were carried out by companies in the mobile and telecommunications space.

Additionally, of those that exited in 2016 15% were software companies, 5% operated in the electronics space and just 1% developed consumer products and services.

The research also shows that O3B Networks, Skyscanner and MyOptique Group were among the most well-funded UK tech companies to exit last year.

Other top VC-funded firms included Onefinestay, Hailo, YPlan (which sold to the Time Out Group for just £1.6m after raising $37.7m since inception) and Swiftkey, bought by Microsoft.

Comparison to H1 2016

According a previous report, the UK was also ranked in second place throughout H1 2016.

Similarly, the US seems to have maintained its leading position as it was ranked first in the first half of last year.