Tech Industry Revenues, M&A Will Heat Up in 2013
If your company's chief financial officer is smiling these days, it's probably because he likes what he's seeing in the 2013 revenue forecasts. The vast majority of technology industry CFOs, in fact, expect their company's revenues to increase over those achieved in 2012, according to a recent survey from BDO USA. In addition, the findings show that these days, IT companies can fully expect to play the part of either the hunter or the hunted, as a wealth of CFOs anticipate that merger and acquisition (M&A) activity will heat up. "We are at the beginning of a new ecosystem in the tech industry," says Aftab Jamil, partner and director of the Technology and Life Sciences practice at BDO USA. "The 'acquire or retire' mentality is growing among technology companies that see acquisitions as a way to enhance IP and gain access to talent that will advance their brand and product portfolio." An estimated 100 CFOs took part in the research.