Irish tech-set told to set their sights on global partnerships

IRELAND’S TECHNOLOGY START-ups should aim for global expansion through mergers and acqusitions, a leading corporate lawyer said today.

Martin Kelleher, who has advised on some of Ireland’s most successful technology deals, including the sale of Mark Little’s Storyful to News Corp, said that the M&A market is strong internationally at the moment.

“Established tech giants show no sign of slowing down their rate of acquisitions. In the space of nine years, Facebook has spent tens of billions acquiring over 40 new and established tech companies.”

Kelleher was speaking at an event organised by law firm Mason Hayes & Curran to show companies the best way to sell their businesses.

“Google recently indicated that it has $50 billion to spend on overseas acquisitions over the coming period. This presents a huge opportunity for indigenous tech companies to grow and develop their companies further with the backing of well-established, experienced international tech partners.”

He said that the increase in global M&A activity was an opporunity for entrepreneurs to exit a business, or to secure extra capital to accelerate growth within a larger organisation, as well as the wider economic gains through job creatoin.

The main drivers of the increase in M&A activity, he said, were the large cash piles held by multinationals, coupled with uninvested capital held by private equity funds.

Read: Storyful acquired by News Corp for €18 million>

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