The UK has ranked second in terms of the number of global tech exits to have taken place throughout the first half of 2016, according to a recent report.
Perhaps unsurprisingly, the US led the ranking while India, Canada and Germany came in third, fourth and fifth place.
In stark contrast, CB Insights’ ‘Global Tech Exits Report H1 2016‘ shows that China failed to make the top 10, having previously finished 2015 at number seven.
Share of exits
Additionally, the report says that every country in the top five had exits dominated by the internet sector.
Some 55% of tech exits in the UK were related to the internet sector whilst 11% happened in the mobile and telecommunications industry.
10% of UK tech exits were concentrated in the software space, 18% in computer and hardware services, 4% in electronics and 1% product and services.
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The report says: “It’s not surprising that internet exits attracted the most attention. Mobile exits have slowed down, reaching a five quarter low to account for 15% of global tech exits in Q2’16.”
European exit activity
The report also found that European M&A activity improved somewhat, with 208 acquisitions and three initial public offerings (IPO) taking place in the second quarter of this year.
In this instance, the UK topped the ranking with 135 mergers and acquisitions and one IPO.
Germany came in second with 63 M&A deals and one IPO. France followed with 38 mergers and acquisitions.
Interested in reading more about tech exits? Check out our editor Emily Spaven’s latest feature on the subject.